Ibex Wealth Advisors Acquires New Position in CNO Financial Group, Inc. (NYSE:CNO)

Ibex Wealth Advisors bought a new position in CNO Financial Group, Inc. (NYSE:CNO) in the fourth quarter, HoldingsChannel reports. The fund bought 19,831 shares of the financial services provider’s stock, valued at approximately $738,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in CNO Financial Group by 6.0% during the third quarter. Principal Financial Group Inc. now owns 1,899,599 shares of the financial services provider’s stock valued at $66,676,000 after acquiring an additional 107,589 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of CNO Financial Group by 69.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 39,946 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 16,420 shares during the last quarter. Barclays PLC boosted its holdings in CNO Financial Group by 113.7% in the third quarter. Barclays PLC now owns 219,141 shares of the financial services provider’s stock worth $7,691,000 after purchasing an additional 116,617 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CNO Financial Group during the third quarter worth $227,000. Finally, FMR LLC raised its holdings in CNO Financial Group by 28.8% during the third quarter. FMR LLC now owns 1,040,619 shares of the financial services provider’s stock valued at $36,526,000 after buying an additional 232,631 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

CNO Financial Group Trading Up 0.5 %

Shares of CNO stock opened at $39.99 on Thursday. The firm has a market capitalization of $4.13 billion, a P/E ratio of 16.12 and a beta of 1.04. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $40.91. The firm’s fifty day simple moving average is $38.25 and its 200 day simple moving average is $35.62. 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 (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. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $945.44 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, sell-side analysts predict that CNO Financial Group, Inc. will post 3.73 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.60%. CNO Financial Group’s dividend payout ratio is currently 25.81%.

Insider Transactions at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 1,484 shares of CNO Financial Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $38.02, for a total transaction of $56,421.68. Following the sale, the chief marketing officer now directly owns 79,896 shares in the company, valued at approximately $3,037,645.92. The trade was a 1.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Eric R. Johnson sold 3,978 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the transaction, the executive now owns 631,844 shares of the company’s stock, valued at approximately $24,698,781.96. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,745 shares of company stock valued at $572,467. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNO. Piper Sandler upped their price target on CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada upped their target price on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Finally, Jefferies Financial Group raised their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.17.

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.