CNO Financial Group, Inc. $CNO Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 102.1% in the 4th quarter, Holdings Channel reports. The fund owned 45,025 shares of the financial services provider’s stock after acquiring an additional 22,749 shares during the quarter. Hsbc Holdings PLC’s holdings in CNO Financial Group were worth $1,914,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in shares of CNO Financial Group in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of CNO Financial Group by 123.1% during 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. lifted its holdings in shares of CNO Financial Group by 39.2% during the second 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 period. Geneos Wealth Management Inc. lifted its holdings in shares of CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,243 shares during the period. Finally, First Horizon Corp grew its position in 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 valued at $76,000 after buying an additional 978 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

CNO Financial Group Trading Down 0.8%

Shares of CNO stock opened at $52.12 on Tuesday. The business’s fifty day moving average price is $47.46 and its 200 day moving average price is $43.94. The firm has a market capitalization of $4.86 billion, a PE ratio of 20.93 and a beta of 0.82. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group, Inc. has a 1-year low of $35.24 and a 1-year high of $53.03.

CNO Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a $0.18 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s payout ratio is 28.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNO shares. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. 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. Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, CNO Financial Group presently has an average rating of “Moderate Buy” and an average price target of $48.75.

Insider Activity

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.44% of the stock is owned by corporate insiders.

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.