Arrowstreet Capital Limited Partnership Has $3.90 Million Stake in CNO Financial Group, Inc. (NYSE:CNO)

Arrowstreet Capital Limited Partnership reduced its position in CNO Financial Group, Inc. (NYSE:CNO) by 67.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,726 shares of the financial services provider’s stock after selling 213,539 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.10% of CNO Financial Group worth $3,897,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Verition Fund Management LLC boosted its position in CNO Financial Group by 31.3% during the third quarter. Verition Fund Management LLC now owns 16,435 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 3,914 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of CNO Financial Group in the 3rd quarter valued at about $418,000. Barclays PLC boosted its position in shares of CNO Financial Group by 113.7% during the 3rd quarter. Barclays PLC now owns 219,141 shares of the financial services provider’s stock valued at $7,691,000 after purchasing an additional 116,617 shares in the last quarter. Vestcor Inc acquired a new stake in CNO Financial Group during the third quarter worth approximately $579,000. Finally, Tidal Investments LLC grew its stake in CNO Financial Group by 11.3% during the third quarter. Tidal Investments LLC now owns 11,246 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 1,145 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on CNO shares. BMO Capital Markets started coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Piper Sandler boosted their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Jefferies Financial Group raised their price target on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and an average target price of $41.00.

CNO Financial Group Stock Performance

CNO opened at $35.95 on Wednesday. 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 cap of $3.61 billion, a price-to-earnings ratio of 9.61 and a beta of 0.90. The company’s fifty day moving average price is $40.39 and its two-hundred day moving average price is $38.33. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.78%. CNO Financial Group’s dividend payout ratio is currently 17.11%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, insider Jeremy David Williams sold 3,393 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $41.77, for a total value of $141,725.61. Following the completion of the sale, the insider now owns 56,599 shares in the company, valued at approximately $2,364,140.23. This trade represents a 5.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of CNO Financial Group 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 in the company, valued at approximately $8,186,134.30. This represents a 16.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,512 shares of company stock valued at $6,497,710 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

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.