Amalgamated Bank Cuts Position in CNO Financial Group, Inc. (NYSE:CNO)

Amalgamated Bank reduced its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,509 shares of the financial services provider’s stock after selling 4,879 shares during the period. Amalgamated Bank’s holdings in CNO Financial Group were worth $1,456,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CNO. CWM LLC grew its stake in shares of CNO Financial Group by 64.1% in the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after buying an additional 447 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in CNO Financial Group in the first quarter valued at approximately $52,000. Blue Trust Inc. grew its position in CNO Financial Group by 25.4% in the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 483 shares in the last quarter. Covestor Ltd raised its stake in shares of CNO Financial Group by 18.9% during the first quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 571 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of CNO Financial Group by 183.5% during the second quarter. Fifth Third Bancorp now owns 4,170 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 2,699 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Down 0.1 %

NYSE:CNO opened at $34.48 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 10.05 and a beta of 1.01. CNO Financial Group, Inc. has a one year low of $22.27 and a one year high of $35.63. The stock has a 50-day simple moving average of $33.02 and a 200 day simple moving average of $29.38.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Monday, July 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.72 by $0.33. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $929.99 million. During the same quarter last year, the firm earned $0.54 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts predict that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.86%. CNO Financial Group’s payout ratio is 18.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CNO shares. Evercore ISI lifted their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Royal Bank of Canada boosted their price target on CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of CNO Financial Group in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.75.

Insider Buying and Selling at CNO Financial Group

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now owns 37,663 shares of the company’s stock, valued at $1,290,334.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now owns 44,884 shares of the company’s stock, valued at $1,565,553.92. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

About CNO Financial Group

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.