UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO – Free Report) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,842 shares of the financial services provider’s stock after selling 28,694 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CNO Financial Group were worth $10,902,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in CNO Financial Group by 72.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 474 shares during the period. Bessemer Group Inc. boosted its stake in shares of CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 487 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 649 shares during the last quarter. Osaic Holdings Inc. increased its stake in CNO Financial Group by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after buying an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,243 shares during the period. 95.43% of the stock is owned by institutional investors.
CNO Financial Group Stock Down 0.1%
CNO stock opened at $56.67 on Monday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 19.47 and a beta of 0.80. CNO Financial Group, Inc. has a 52 week low of $38.22 and a 52 week high of $57.59. The firm has a 50-day simple moving average of $53.85 and a 200-day simple moving average of $47.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65.
CNO Financial Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. CNO Financial Group’s payout ratio is presently 24.74%.
Wall Street Analysts Forecast Growth
CNO has been the topic of a number of research analyst reports. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Capital One Financial set a $70.00 price objective on CNO Financial Group in a report on Wednesday, August 26th. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods raised their price objective on CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.00.
Insider Transactions at CNO Financial Group
In other news, insider Karen J. Detoro sold 5,964 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $55.12, for a total value of $328,735.68. Following the transaction, the insider directly owned 36,450 shares of the company’s stock, valued at approximately $2,009,124. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanne L. Linnenbringer sold 3,919 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $55.11, for a total transaction of $215,976.09. Following the sale, the insider directly owned 26,209 shares of the company’s stock, valued at approximately $1,444,377.99. This represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,319 shares of company stock valued at $7,033,335 over the last ninety days. Company insiders own 3.44% of the company’s stock.
CNO Financial Group Profile
CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.
Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.
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