JPMorgan Chase & Co. Buys 91,417 Shares of CNO Financial Group, Inc. $CNO

JPMorgan Chase & Co. lifted its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 11.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 882,512 shares of the financial services provider’s stock after acquiring an additional 91,417 shares during the period. JPMorgan Chase & Co.’s holdings in CNO Financial Group were worth $34,903,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings 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 purchasing an additional 336 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of CNO Financial Group by 8.1% in the third quarter. Blue Trust Inc. now owns 5,409 shares of the financial services provider’s stock worth $214,000 after buying an additional 403 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of CNO Financial Group by 12.6% during the 2nd quarter. Assetmark Inc. now owns 3,963 shares of the financial services provider’s stock worth $153,000 after buying an additional 444 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of CNO Financial Group by 8.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,253 shares of the financial services provider’s stock worth $247,000 after buying an additional 502 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in shares of CNO Financial Group by 7.0% during the 3rd quarter. Merit Financial Group LLC now owns 7,779 shares of the financial services provider’s stock worth $308,000 after buying an additional 510 shares during the period. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Trading Down 3.0%

CNO Financial Group stock opened at $41.77 on Friday. The business has a 50 day moving average price of $42.51 and a two-hundred day moving average price of $40.84. The company has a quick ratio of 0.18, a current ratio of 0.17 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.85. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 18.73 and a beta of 0.84.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. The business had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $1 billion. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.CNO Financial Group’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. As a group, equities analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is currently 30.49%.

Insider Buying and Selling at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 9,283 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $42.60, for a total value of $395,455.80. Following the sale, the chief marketing officer owned 73,932 shares of the company’s stock, valued at $3,149,503.20. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gary C. Bhojwani sold 45,357 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total transaction of $1,958,061.69. Following the transaction, the chief executive officer owned 320,547 shares of the company’s stock, valued at approximately $13,838,013.99. This represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,431 shares of company stock valued at $9,715,996 over the last quarter. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Jefferies Financial Group upgraded CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $47.00 in a research note on Monday, December 15th. Evercore restated an “underperform” rating and set a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday, February 18th. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler increased their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.25.

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.