JPMorgan Chase & Co. Has $47.42 Million Stock Holdings in CNO Financial Group, Inc. (NYSE:CNO)

JPMorgan Chase & Co. raised its stake in CNO Financial Group, Inc. (NYSE:CNO) by 41.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,274,370 shares of the financial services provider’s stock after buying an additional 372,701 shares during the period. JPMorgan Chase & Co.’s holdings in CNO Financial Group were worth $47,419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of CNO Financial Group by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,687,861 shares of the financial services provider’s stock valued at $100,015,000 after acquiring an additional 282,611 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 purchasing an additional 107,589 shares in the last quarter. FMR LLC grew its holdings in shares of 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 worth $36,526,000 after purchasing an additional 232,631 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of CNO Financial Group by 1.3% in the fourth quarter. Allianz Asset Management GmbH now owns 848,407 shares of the financial services provider’s stock valued at $31,569,000 after buying an additional 10,846 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in CNO Financial Group by 37.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 671,636 shares of the financial services provider’s stock valued at $24,945,000 after buying an additional 181,711 shares during the last quarter. Institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Down 6.9 %

Shares of NYSE:CNO opened at $36.83 on Friday. The business’s 50-day moving average is $40.61 and its 200-day moving average is $38.31. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $43.20. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.85 and a beta of 0.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.22 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. Equities research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 17.11%.

Insider Activity

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the transaction, the general counsel now directly owns 204,143 shares of the company’s stock, valued at approximately $8,186,134.30. This represents a 16.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yvonne K. Franzese sold 2,013 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.18, for a total value of $84,908.34. Following the completion of the transaction, the insider now owns 26,994 shares in the company, valued at approximately $1,138,606.92. The trade was a 6.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,512 shares of company stock worth $6,497,710. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CNO shares. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price on the stock. Jefferies Financial Group increased their price objective on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada lifted their target price on CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on CNO Financial Group from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday. 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, the stock has an average rating of “Hold” and an average price target of $41.00.

CNO Financial Group Company 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.