CNO Financial Group, Inc. $CNO Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 32.6% in the first quarter, HoldingsChannel reports. The firm owned 95,910 shares of the financial services provider’s stock after selling 46,387 shares during the period. Royal Bank of Canada’s holdings in CNO Financial Group were worth $3,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in CNO Financial Group in the 1st quarter valued at approximately $1,125,000. Hsbc Holdings PLC increased its position in CNO Financial Group by 102.1% during the fourth quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock worth $1,914,000 after buying an additional 22,749 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of CNO Financial Group in the first quarter worth $1,141,000. Quantinno Capital Management LP raised its holdings in shares of CNO Financial Group by 26.0% in the first quarter. Quantinno Capital Management LP now owns 219,598 shares of the financial services provider’s stock worth $9,017,000 after acquiring an additional 45,248 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of CNO Financial Group by 3,633.6% in the first quarter. Fifth Third Bancorp now owns 70,490 shares of the financial services provider’s stock valued at $2,894,000 after acquiring an additional 68,602 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Trading Up 0.7%

Shares of CNO Financial Group stock opened at $55.23 on Friday. CNO Financial Group, Inc. has a fifty-two week low of $37.36 and a fifty-two week high of $57.59. The business’s fifty day moving average is $52.66 and its two-hundred day moving average is $46.54. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65. The firm has a market cap of $5.11 billion, a PE ratio of 18.98 and a beta of 0.81.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.29. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Analysts anticipate that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. CNO Financial Group’s payout ratio is 24.74%.

Analysts Set New Price Targets

CNO has been the subject of a number of recent research reports. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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 raised their price target on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a report on Friday, July 10th. Finally, Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, CNO Financial Group presently has an average rating of “Hold” and an average price target of $52.50.

Insider Activity

In other news, 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 owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The transaction 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, CEO Gary C. Bhojwani sold 86,048 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the transaction, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This represents a 33.06% 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 sold a total of 95,106 shares of company stock valued at $4,879,343 in the last 90 days. 3.44% of the stock is owned by company insiders.

About CNO Financial Group

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.