Journey Advisory Group LLC Trims Stake in CNO Financial Group, Inc. $CNO

Journey Advisory Group LLC lowered its position in CNO Financial Group, Inc. (NYSE:CNO) by 91.1% in the 1st quarter, Holdings Channel reports. The fund owned 7,317 shares of the financial services provider’s stock after selling 74,939 shares during the quarter. Journey Advisory Group LLC’s holdings in CNO Financial Group were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in shares of CNO Financial Group during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its position in 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 valued at $45,000 after buying an additional 649 shares during the period. Osaic Holdings Inc. lifted its position in 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 valued at $46,000 after buying an additional 336 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of CNO Financial Group by 637.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares in the last quarter. Finally, First Horizon Corp boosted its holdings in shares of CNO Financial Group by 119.7% during 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 in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNO. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Jefferies Financial Group lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of CNO Financial Group from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday. 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, Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.50.

CNO Financial Group Trading Up 1.4%

CNO Financial Group stock opened at $53.48 on Friday. CNO Financial Group, Inc. has a one year low of $35.24 and a one year high of $53.72. The business’s fifty day moving average is $49.54 and its 200 day moving average is $44.82. The stock has a market capitalization of $4.99 billion, a PE ratio of 21.48 and a beta of 0.81. 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 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 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 boost from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s payout ratio is 28.92%.

Insider Buying and Selling

In other news, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 174,264 shares in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. 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 sold 95,106 shares of company stock valued at $4,879,343 over the last quarter. Company insiders own 3.44% of the company’s stock.

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.