Verition Fund Management LLC Has $577,000 Stake in CNO Financial Group, Inc. (NYSE:CNO)

Verition Fund Management LLC raised its position in CNO Financial Group, Inc. (NYSE:CNO) by 31.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,435 shares of the financial services provider’s stock after acquiring an additional 3,914 shares during the quarter. Verition Fund Management LLC’s holdings in CNO Financial Group were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CNO Financial Group in the 2nd quarter valued at about $852,000. DekaBank Deutsche Girozentrale boosted its stake in shares of CNO Financial Group by 680.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,584 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 30,150 shares during the period. Interval Partners LP acquired a new position in shares of CNO Financial Group during the 2nd quarter worth approximately $2,360,000. Allspring Global Investments Holdings LLC raised its stake in CNO Financial Group by 97.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after acquiring an additional 306,751 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CNO Financial Group during the 3rd quarter valued at $227,000. Institutional investors own 95.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNO. 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. Royal Bank of Canada raised their price objective 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 boosted their price objective on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and a consensus price target of $35.80.

Insider Transactions at CNO Financial Group

In related news, CIO Eric R. Johnson sold 3,978 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 631,844 shares of the company’s stock, valued at $24,698,781.96. This represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeremy David Williams sold 4,783 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares in the company, valued at approximately $2,490,430.89. This represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

CNO Financial Group Price Performance

NYSE:CNO opened at $37.82 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 15.25 and a beta of 1.02. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $40.91. The firm’s 50-day simple moving average is $37.20 and its 200 day simple moving average is $33.15.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, sell-side analysts predict that CNO Financial Group, Inc. will post 3.73 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.69%. CNO Financial Group’s payout ratio is 25.81%.

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.