Congress Asset Management Co. MA Sells 5,538 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Congress Asset Management Co. MA reduced its position in CNO Financial Group, Inc. (NYSE:CNO) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,588 shares of the financial services provider’s stock after selling 5,538 shares during the quarter. Congress Asset Management Co. MA owned about 0.14% of CNO Financial Group worth $4,166,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in CNO Financial Group in the fourth quarter valued at approximately $50,000. Assetmark Inc. raised its stake in CNO Financial Group by 33.4% in the fourth quarter. Assetmark Inc. now owns 5,557 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,391 shares in the last quarter. Versor Investments LP purchased a new stake in CNO Financial Group in the fourth quarter valued at approximately $269,000. Everhart Financial Group Inc. raised its stake in CNO Financial Group by 8.8% in the fourth quarter. Everhart Financial Group Inc. now owns 11,874 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 963 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in CNO Financial Group in the fourth quarter valued at approximately $408,000. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Trading Up 0.5 %

Shares of NYSE CNO traded up $0.13 during mid-day trading on Friday, hitting $27.56. The stock had a trading volume of 1,214,338 shares, compared to its average volume of 725,839. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. CNO Financial Group, Inc. has a 1 year low of $22.06 and a 1 year high of $29.09. The business has a 50 day moving average price of $27.43 and a two-hundred day moving average price of $27.16. The firm has a market cap of $2.98 billion, a P/E ratio of 8.04 and a beta of 1.05.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $935.76 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that CNO Financial Group, Inc. will post 3.08 EPS for the current fiscal year.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.32%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, June 10th. CNO Financial Group’s payout ratio is presently 18.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Piper Sandler raised shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a research note on Tuesday, April 16th. Finally, Evercore ISI lifted their price target on shares of CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.50.

Insider Buying and Selling

In related news, CEO Gary C. Bhojwani sold 9,434 shares of CNO Financial Group stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.87, for a total value of $253,491.58. Following the sale, the chief executive officer now owns 332,694 shares in the company, valued at $8,939,487.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Karen Detoro sold 1,307 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.94, for a total transaction of $35,210.58. Following the sale, the insider now owns 75,049 shares in the company, valued at approximately $2,021,820.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary C. Bhojwani sold 9,434 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $26.87, for a total transaction of $253,491.58. Following the sale, the chief executive officer now owns 332,694 shares in the company, valued at approximately $8,939,487.78. The disclosure for this sale can be found here. Insiders have sold a total of 99,712 shares of company stock valued at $2,758,595 over the last three months. 3.00% of the stock is owned by company insiders.

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.