AlphaQuest LLC Takes Position in CNO Financial Group, Inc. $CNO

AlphaQuest LLC purchased a new position in shares of CNO Financial Group, Inc. (NYSE:CNO) during the third quarter, Holdings Channel.com reports. The fund purchased 77,304 shares of the financial services provider’s stock, valued at approximately $3,057,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama acquired a new position in shares of CNO Financial Group in the third quarter worth about $11,857,000. Covestor Ltd increased its stake in shares of CNO Financial Group by 43.5% in the 3rd quarter. Covestor Ltd now owns 2,778 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 842 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in CNO Financial Group by 16.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,792 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 2,288 shares during the period. Sequoia Financial Advisors LLC acquired a new position in CNO Financial Group in the 3rd quarter worth about $1,077,000. Finally, Evergreen Capital Management LLC purchased a new position in CNO Financial Group during the third quarter worth approximately $216,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insider Buying and Selling

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 31,430 shares of CNO Financial Group stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the transaction, the chief executive officer directly owned 195,926 shares of the company’s stock, valued at $8,226,932.74. The trade was a 13.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Eric R. Johnson sold 48,665 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $41.24, for a total transaction of $2,006,944.60. Following the completion of the transaction, the executive owned 671,542 shares in the company, valued at $27,694,392.08. The trade was a 6.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 89,378 shares of company stock worth $3,722,146. Insiders own 3.00% of the company’s stock.

CNO Financial Group Price Performance

CNO stock opened at $41.79 on Friday. CNO Financial Group, Inc. has a 1 year low of $34.63 and a 1 year high of $44.19. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $3.98 billion, a PE ratio of 14.61 and a beta of 0.85. The business has a 50 day simple moving average of $41.90 and a 200-day simple moving average of $39.99.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Monday, November 3rd. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.34. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $975.35 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s dividend payout ratio is currently 23.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNO. Piper Sandler boosted their price objective on CNO Financial Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Jefferies Financial Group raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Keefe, Bruyette & Woods upped their price objective on shares of CNO Financial Group from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.