Assenagon Asset Management S.A. Takes Position in CNO Financial Group, Inc. $CNO

Assenagon Asset Management S.A. purchased a new position in shares of CNO Financial Group, Inc. (NYSE:CNO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 138,239 shares of the financial services provider’s stock, valued at approximately $5,871,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CNO. Sequoia Financial Advisors LLC bought a new stake in shares of CNO Financial Group in the third quarter worth $1,077,000. AlphaQuest LLC bought a new position in CNO Financial Group during the 3rd quarter worth $3,057,000. JPMorgan Chase & Co. lifted its holdings in CNO Financial Group by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock worth $34,903,000 after buying an additional 91,417 shares during the period. Lighthouse Investment Partners LLC acquired a new position in CNO Financial Group during the 3rd quarter worth about $8,018,000. Finally, GSA Capital Partners LLP bought a new stake in shares of CNO Financial Group in the 3rd quarter valued at about $1,469,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and increased their price target for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Evercore reaffirmed an “underperform” rating and issued a $43.00 price objective on shares of CNO Financial Group in a research note on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 price target on shares of CNO Financial Group in a report on Thursday. Finally, Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CNO Financial Group presently has an average rating of “Hold” and an average price target of $46.50.

CNO Financial Group Stock Performance

CNO stock opened at $39.57 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 17.75 and a beta of 0.83. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $41.65 and a 200-day moving average price of $41.11. CNO Financial Group, Inc. has a 1-year low of $34.63 and a 1-year high of $44.85.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. The firm had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $1 billion. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. As a group, equities research analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 10th. CNO Financial Group’s payout ratio is 30.49%.

Insider Activity at CNO Financial Group

In other news, insider Scott L. Goldberg sold 11,060 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.97, for a total transaction of $442,068.20. Following the transaction, the insider owned 214,524 shares in the company, valued at approximately $8,574,524.28. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the stock in a transaction dated 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 transaction, the general counsel directly owned 307,937 shares in the company, valued at $13,256,687.85. This trade represents a 9.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 228,208 shares of company stock valued at $9,762,609. 3.00% of the stock is currently owned by company insiders.

About CNO Financial Group

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.