The Manufacturers Life Insurance Company Invests $4.31 Million in CNO Financial Group, Inc. $CNO

The Manufacturers Life Insurance Company bought a new position in CNO Financial Group, Inc. (NYSE:CNO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 84,493 shares of the financial services provider’s stock, valued at approximately $4,307,000. The Manufacturers Life Insurance Company owned 0.09% of CNO Financial Group as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new position in shares of CNO Financial Group during the first quarter valued at about $1,125,000. Callan Family Office LLC bought a new stake in shares of CNO Financial Group in the second quarter worth about $1,089,000. Hsbc Holdings PLC increased its holdings in CNO Financial Group by 102.1% during the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock valued at $1,914,000 after purchasing an additional 22,749 shares during the period. BlackRock Inc. purchased a new position in CNO Financial Group during the 2nd quarter valued at about $682,433,000. Finally, Deutsche Bank AG bought a new position in CNO Financial Group during the 2nd quarter valued at approximately $6,545,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CNO has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings upgraded CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Capital One Financial set a $70.00 price target on CNO Financial Group in a research note on Wednesday, August 26th. Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $53.00 to $55.00 in a report on Friday, July 10th. Finally, Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.00.

CNO Financial Group Price Performance

Shares of NYSE CNO opened at $54.84 on Tuesday. The company has a 50 day simple moving average of $53.57 and a two-hundred day simple moving average of $47.51. CNO Financial Group, Inc. has a fifty-two week low of $38.22 and a fifty-two week high of $57.59. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 18.85 and a beta of 0.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. During the same period in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that CNO Financial Group, Inc. will post 4.74 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group’s payout ratio is 24.74%.

Insider Buying and Selling at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the sale, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the transaction, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,106 shares of company stock worth $4,879,343 over the last three months. Corporate insiders own 3.44% of the company’s stock.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.