Intech Investment Management LLC Acquires 38,721 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Intech Investment Management LLC boosted its position in CNO Financial Group, Inc. (NYSE:CNO) by 151.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 64,342 shares of the financial services provider’s stock after buying an additional 38,721 shares during the quarter. Intech Investment Management LLC’s holdings in CNO Financial Group were worth $2,394,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of CNO Financial Group by 368.2% during the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 626 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of CNO Financial Group by 95.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock valued at $32,000 after buying an additional 417 shares during the last quarter. Principal Securities Inc. boosted its position in shares of 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 buying an additional 325 shares during the last quarter. Sound Income Strategies LLC purchased a new position in CNO Financial Group in the fourth quarter worth about $54,000. Finally, GAMMA Investing LLC boosted its position in CNO Financial Group by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Down 0.2 %

Shares of CNO opened at $41.18 on Friday. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 11.01 and a beta of 1.02. The stock’s 50-day moving average price is $39.94 and its 200-day moving average price is $37.69. 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, Inc. has a 52 week low of $24.92 and a 52 week high of $42.41.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results 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 return on equity of 17.20% and a net margin of 9.08%. On average, sell-side analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.55%. CNO Financial Group’s dividend payout ratio is currently 17.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNO. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. BMO Capital Markets assumed coverage on CNO Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price on the stock. Royal Bank of Canada lifted their price objective on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Jefferies Financial Group lifted their target price on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.50.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.02, for a total transaction of $1,020,510.00. Following the sale, the insider now owns 169,342 shares in the company, valued at approximately $6,777,066.84. This represents a 13.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $41.49, for a total value of $1,692,792.00. Following the completion of the transaction, the general counsel now directly owns 244,943 shares in the company, valued at $10,162,685.07. This trade represents a 14.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,600 shares of company stock worth $5,372,187. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Profile

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.