Jennison Associates LLC Trims Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Jennison Associates LLC decreased its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 31.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,933 shares of the financial services provider’s stock after selling 23,526 shares during the quarter. Jennison Associates LLC’s holdings in CNO Financial Group were worth $1,823,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CNO. EntryPoint Capital LLC purchased a new position in shares of CNO Financial Group during the 1st quarter worth $52,000. Price T Rowe Associates Inc. MD lifted its position in CNO Financial Group by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 80,995 shares of the financial services provider’s stock valued at $2,226,000 after purchasing an additional 4,304 shares in the last quarter. Bayesian Capital Management LP purchased a new position in CNO Financial Group during the first quarter valued at $203,000. EMC Capital Management grew its holdings in CNO Financial Group by 23.2% during the first quarter. EMC Capital Management now owns 29,605 shares of the financial services provider’s stock valued at $814,000 after purchasing an additional 5,579 shares during the period. Finally, First Financial Bank Trust Division purchased a new stake in CNO Financial Group in the second quarter worth about $343,000. 95.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the sale, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This represents a 12.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CIO Eric R. Johnson sold 3,978 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the transaction, the executive now directly owns 631,844 shares of the company’s stock, valued at approximately $24,698,781.96. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,560 shares of company stock worth $720,550 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Up 1.3 %

Shares of CNO opened at $39.91 on Friday. The business’s 50 day moving average is $36.06 and its 200 day moving average is $32.18. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $40.29. The company has a market capitalization of $4.12 billion, a PE ratio of 16.09 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.29. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $945.44 million. During the same quarter last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. Research analysts expect that CNO Financial Group, Inc. will post 3.73 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, December 10th. CNO Financial Group’s payout ratio is currently 25.81%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNO. Evercore ISI lifted their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price target on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Piper Sandler increased their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, CNO Financial Group has an average rating of “Hold” and a consensus target price of $34.50.

CNO Financial Group Company 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.