CNO Financial Group, Inc. $CNO Holdings Boosted by Sei Investments Co.

Sei Investments Co. increased its stake in CNO Financial Group, Inc. (NYSE:CNO) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 388,332 shares of the financial services provider’s stock after purchasing an additional 46,308 shares during the period. Sei Investments Co.’s holdings in CNO Financial Group were worth $15,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNO. Richardson Financial Services Inc. bought a new stake in CNO Financial Group in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its stake in shares of CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 649 shares during the period. Osaic Holdings Inc. increased its stake in shares of CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 336 shares during the period. Bessemer Group Inc. raised its holdings in shares of CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after buying an additional 487 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insider Activity at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. The trade was a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. This trade represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 95,106 shares of company stock worth $4,879,343. Company insiders own 3.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research report on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Evercore set a $48.00 price target on CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.50.

CNO Financial Group Price Performance

NYSE CNO opened at $53.52 on Friday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 21.50 and a beta of 0.81. CNO Financial Group, Inc. has a 1 year low of $35.24 and a 1 year high of $54.09. The business’s fifty day moving average is $50.82 and its two-hundred day moving average is $45.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 17.65% and a net margin of 5.44%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $999.45 million. During the same quarter last year, the company posted $0.87 EPS. CNO Financial Group’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that CNO Financial Group, Inc. will post 4.43 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a $0.18 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $0.72 annualized dividend and a yield of 1.3%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

CNO Financial Group Company Profile

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.