Swiss National Bank Trims Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Swiss National Bank reduced its stake in shares of CNO Financial Group, Inc. (NYSE:CNOGet Rating) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 279,000 shares of the financial services provider’s stock after selling 12,600 shares during the quarter. Swiss National Bank’s holdings in CNO Financial Group were worth $5,047,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CNO Financial Group in the 1st quarter worth about $1,383,000. Profund Advisors LLC grew its position in shares of CNO Financial Group by 10.7% in the 1st quarter. Profund Advisors LLC now owns 10,597 shares of the financial services provider’s stock worth $266,000 after buying an additional 1,023 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of CNO Financial Group by 0.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,044,557 shares of the financial services provider’s stock worth $176,748,000 after buying an additional 44,782 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of CNO Financial Group by 6.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 49,486 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 2,930 shares during the period. Finally, Retirement Systems of Alabama purchased a new stake in shares of CNO Financial Group in the 2nd quarter worth about $2,762,000. 98.32% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Price Performance

CNO opened at $23.04 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $2.64 billion, a P/E ratio of 5.86 and a beta of 1.15. The company’s 50-day simple moving average is $20.41 and its two-hundred day simple moving average is $19.41. CNO Financial Group, Inc. has a 52-week low of $16.56 and a 52-week high of $26.74.

CNO Financial Group (NYSE:CNOGet Rating) last posted its earnings results on Monday, October 31st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $905.30 million for the quarter, compared to analysts’ expectations of $893.80 million. CNO Financial Group had a net margin of 12.76% and a return on equity of 10.16%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. As a group, analysts predict that CNO Financial Group, Inc. will post 2.27 EPS for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 8th. CNO Financial Group’s dividend payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNO. Morgan Stanley upped their price target on shares of CNO Financial Group from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 17th. Royal Bank of Canada upped their price target on shares of CNO Financial Group from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. StockNews.com began coverage on shares of CNO Financial Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Piper Sandler upped their price target on shares of CNO Financial Group from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and an average price target of $23.75.

CNO Financial Group Profile

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CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products 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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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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