Eqis Capital Management Inc. raised its holdings in shares of CNO Financial Group Inc (NYSE:CNO) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,075 shares of the financial services provider’s stock after buying an additional 5,895 shares during the period. Eqis Capital Management Inc.’s holdings in CNO Financial Group were worth $778,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CNO. JOYN Advisors Inc. boosted its position in shares of CNO Financial Group by 447.9% in the fourth quarter. JOYN Advisors Inc. now owns 1,967 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,608 shares during the period. Advisors Preferred LLC bought a new position in shares of CNO Financial Group in the fourth quarter worth approximately $64,000. Oregon Public Employees Retirement Fund boosted its position in shares of CNO Financial Group by 1,388.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 916,205 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in shares of CNO Financial Group in the fourth quarter worth approximately $91,000. Finally, Quantamental Technologies LLC bought a new position in shares of CNO Financial Group in the fourth quarter worth approximately $139,000. 96.76% of the stock is owned by institutional investors and hedge funds.
CNO opened at $16.93 on Monday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 9.25 and a beta of 1.30. CNO Financial Group Inc has a 1-year low of $13.64 and a 1-year high of $22.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.26 and a quick ratio of 0.26.
The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a dividend of $0.10 per share. The ex-dividend date was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. CNO Financial Group’s dividend payout ratio is 21.86%.
In related news, CFO Erik M. Helding sold 11,845 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $16.08, for a total transaction of $190,467.60. Following the completion of the transaction, the chief financial officer now owns 78,445 shares in the company, valued at $1,261,395.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gerardo Monroy sold 16,055 shares of the company’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $16.25, for a total transaction of $260,893.75. Following the transaction, the insider now owns 22,140 shares of the company’s stock, valued at approximately $359,775. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
CNO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Thursday, January 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $21.00 price target on shares of CNO Financial Group in a research report on Thursday, February 14th. Evercore ISI upgraded shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, February 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.50.
CNO Financial Group Profile
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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