CNO Financial Group, Inc. $CNO Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,492,497 shares of the financial services provider’s stock after purchasing an additional 114,000 shares during the quarter. Principal Financial Group Inc. owned about 1.59% of CNO Financial Group worth $61,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new stake in shares of CNO Financial Group in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its holdings in CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares in the last quarter. Osaic Holdings Inc. grew 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 valued at $46,000 after buying an additional 336 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of 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 acquiring an additional 1,243 shares during the last quarter. Finally, First Horizon Corp increased its stake in shares of CNO Financial Group by 119.7% in the 4th quarter. First Horizon Corp now owns 1,795 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 978 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Price Performance

NYSE:CNO opened at $53.48 on Friday. CNO Financial Group, Inc. has a 52 week low of $35.24 and a 52 week high of $53.72. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $4.99 billion, a P/E ratio of 21.48 and a beta of 0.81. The stock’s fifty day moving average is $49.54 and its two-hundred day moving average is $44.82.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio is 28.92%.

Insider Activity

In related news, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the transaction, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. The trade was a 6.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Jefferies Financial Group downgraded 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. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Finally, Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.50.

CNO Financial Group Company 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.