JPMorgan Chase & Co. Acquires 91,417 Shares of CNO Financial Group, Inc. $CNO

JPMorgan Chase & Co. raised its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 882,512 shares of the financial services provider’s stock after buying an additional 91,417 shares during the quarter. JPMorgan Chase & Co.’s holdings in CNO Financial Group were worth $34,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. grew its position in shares of CNO Financial Group by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock worth $170,157,000 after buying an additional 42,467 shares during the period. American Century Companies Inc. lifted its position in shares of CNO Financial Group by 3.8% during the 3rd quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock valued at $128,140,000 after acquiring an additional 118,417 shares during the period. AQR Capital Management LLC lifted its position in shares of CNO Financial Group by 8.1% during the 3rd quarter. AQR Capital Management LLC now owns 898,238 shares of the financial services provider’s stock valued at $35,525,000 after acquiring an additional 66,937 shares during the period. Balyasny Asset Management L.P. boosted its stake in CNO Financial Group by 32.6% during the second quarter. Balyasny Asset Management L.P. now owns 764,867 shares of the financial services provider’s stock worth $29,509,000 after acquiring an additional 187,974 shares in the last quarter. Finally, Bragg Financial Advisors Inc boosted its stake in CNO Financial Group by 14.0% during the second quarter. Bragg Financial Advisors Inc now owns 639,939 shares of the financial services provider’s stock worth $24,689,000 after acquiring an additional 78,793 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $39.72 on Monday. The firm has a market capitalization of $3.74 billion, a PE ratio of 17.81 and a beta of 0.83. The firm has a fifty day simple moving average of $41.83 and a two-hundred day simple moving average of $41.09. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.43. CNO Financial Group, Inc. has a 12 month low of $34.63 and a 12 month high of $44.85.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $1 billion. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. Analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 10th. CNO Financial Group’s dividend payout ratio is currently 30.49%.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, General Counsel Matthew J. Zimpfer sold 33,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the completion of the sale, the general counsel directly owned 307,937 shares of the company’s stock, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary C. Bhojwani sold 45,357 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.17, for a total value of $1,958,061.69. Following the completion of the sale, the chief executive officer directly owned 320,547 shares of the company’s stock, valued at approximately $13,838,013.99. This trade represents a 12.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 217,148 shares of company stock valued at $9,320,540. 3.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CNO has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $47.00 in a research report on Monday, December 15th. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Finally, Evercore reaffirmed an “underperform” rating and set a $43.00 price target on shares of CNO Financial Group in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CNO Financial Group has an average rating of “Hold” and a consensus target price of $46.25.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.