Pzena Investment Management LLC Sells 1,448,993 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Pzena Investment Management LLC reduced its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 24.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,577,890 shares of the financial services provider’s stock after selling 1,448,993 shares during the period. Pzena Investment Management LLC owned 4.33% of CNO Financial Group worth $160,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC increased its position in CNO Financial Group by 64.1% in the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after buying an additional 447 shares during the period. Quarry LP raised its position in shares of CNO Financial Group by 123.2% during the second quarter. Quarry LP now owns 1,694 shares of the financial services provider’s stock valued at $47,000 after buying an additional 935 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of CNO Financial Group in the first quarter valued at about $52,000. Blue Trust Inc. grew its position in CNO Financial Group by 25.4% during the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after buying an additional 483 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in CNO Financial Group by 141.8% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 1,164 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CIO Eric R. Johnson sold 3,978 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $39.09, for a total value of $155,500.02. Following the completion of the sale, the executive now owns 631,844 shares in the company, valued at $24,698,781.96. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares of the company’s stock, valued at approximately $2,490,430.89. This trade represents a 7.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,560 shares of company stock worth $720,550 in the last 90 days. Corporate insiders own 3.21% of the company’s stock.

Analyst Upgrades and Downgrades

CNO has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Piper Sandler increased their price target on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.50.

CNO Financial Group Stock Down 0.4 %

Shares of CNO stock traded down $0.14 during trading on Wednesday, reaching $38.82. The company’s stock had a trading volume of 55,621 shares, compared to its average volume of 736,131. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 15.71 and a beta of 1.01. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $40.29. The business has a fifty day moving average price of $35.66 and a 200-day moving average price of $31.97. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.29. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Analysts anticipate that CNO Financial Group, Inc. will post 3.73 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, December 10th. CNO Financial Group’s dividend payout ratio (DPR) is 25.81%.

About CNO Financial Group

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.