Connor Clark & Lunn Investment Management Ltd. Sells 115,276 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 79.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,308 shares of the financial services provider’s stock after selling 115,276 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CNO Financial Group were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CNO. CWM LLC raised its holdings in shares of CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 447 shares in the last quarter. Quarry LP raised its holdings in CNO Financial Group by 123.2% in the 2nd quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 935 shares during the period. Blue Trust Inc. raised its holdings in CNO Financial Group by 25.4% in the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 483 shares during the period. GAMMA Investing LLC raised its holdings in CNO Financial Group by 141.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,164 shares during the period. Finally, Point72 DIFC Ltd bought a new position in CNO Financial Group in the 2nd quarter worth $89,000. Institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Down 0.8 %

Shares of CNO opened at $40.16 on Thursday. The company has a 50-day simple moving average of $36.31 and a 200-day simple moving average of $32.39. The firm has a market capitalization of $4.14 billion, a P/E ratio of 16.15 and a beta of 1.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $40.91.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, equities research analysts expect that CNO Financial Group, Inc. will post 3.73 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 10th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.59%. CNO Financial Group’s payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

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

Insider Activity 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 value of $155,500.02. Following the sale, the executive now owns 631,844 shares of the company’s stock, valued at $24,698,781.96. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,290,334.38. This represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,560 shares of company stock valued at $720,550 over the last quarter. 3.21% of the stock is owned by company insiders.

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.