Principal Financial Group Inc. trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755,897 shares of the financial services provider's stock after selling 143,702 shares during the period. Principal Financial Group Inc. owned about 1.70% of CNO Financial Group worth $65,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. boosted its position in CNO Financial Group by 51.6% during the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 325 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of CNO Financial Group by 5.9% during the fourth quarter. Congress Asset Management Co. now owns 157,004 shares of the financial services provider's stock valued at $5,842,000 after buying an additional 8,689 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of CNO Financial Group by 37.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 671,636 shares of the financial services provider's stock valued at $24,945,000 after buying an additional 181,711 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of CNO Financial Group by 12.5% during the 4th quarter. Meritage Portfolio Management now owns 20,776 shares of the financial services provider's stock worth $773,000 after acquiring an additional 2,301 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of CNO Financial Group by 20.7% during the 4th quarter. Jennison Associates LLC now owns 62,707 shares of the financial services provider's stock worth $2,333,000 after acquiring an additional 10,774 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.
In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the sale, the chief marketing officer now owns 72,896 shares in the company, valued at approximately $2,734,328.96. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.21% of the company's stock.
CNO has been the subject of several analyst reports. BMO Capital Markets started coverage on CNO Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $38.00 price objective for the company. Royal Bank of Canada increased their price target on CNO Financial Group from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their price objective on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Finally, Piper Sandler reissued an "overweight" rating and set a $46.00 target price (up previously from $44.00) on shares of CNO Financial Group in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.50.
View Our Latest Report on CNO
CNO Financial Group stock opened at $41.49 on Thursday. The stock has a 50-day moving average price of $38.63 and a 200 day moving average price of $36.61. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 11.09 and a beta of 1.04. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $42.02. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61.
CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.79 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group's dividend payout ratio is currently 17.11%.
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.
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