Hsbc Holdings PLC Sells 28,938 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Hsbc Holdings PLC lessened its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 55.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,555 shares of the financial services provider’s stock after selling 28,938 shares during the quarter. Hsbc Holdings PLC’s holdings in CNO Financial Group were worth $659,000 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. Daiwa Securities Group Inc. bought a new position in shares of CNO Financial Group in the fourth quarter worth approximately $50,000. Assetmark Inc. lifted its stake in CNO Financial Group by 18.0% in the third quarter. Assetmark Inc. now owns 4,166 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 634 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CNO Financial Group by 23.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,438 shares of the financial services provider’s stock valued at $105,000 after buying an additional 835 shares during the last quarter. Versor Investments LP bought a new stake in shares of CNO Financial Group in the 4th quarter valued at about $269,000. Finally, Everhart Financial Group Inc. lifted its position in CNO Financial Group by 12.6% in the third quarter. Everhart Financial Group Inc. now owns 10,911 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 1,225 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Stock Down 0.2 %

CNO stock traded down $0.06 during midday trading on Friday, hitting $27.11. The stock had a trading volume of 579,071 shares, compared to its average volume of 816,885. The business has a 50-day moving average of $26.61 and a two-hundred day moving average of $26.38. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.18 and a quick ratio of 0.19. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 7.90 and a beta of 1.03. CNO Financial Group, Inc. has a 52-week low of $19.95 and a 52-week high of $28.39.

CNO Financial Group (NYSE:CNO) last released its earnings results on Monday, April 29th. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $935.76 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast that CNO Financial Group, Inc. will post 3.1 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.21%. CNO Financial Group’s payout ratio is 17.49%.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 16,837 shares of CNO Financial Group stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.00, for a total transaction of $454,599.00. Following the completion of the transaction, the chief executive officer now owns 406,808 shares in the company, valued at $10,983,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Karen Detoro sold 2,778 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $27.10, for a total value of $75,283.80. Following the transaction, the insider now directly owns 69,605 shares of the company’s stock, valued at approximately $1,886,295.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary C. Bhojwani sold 16,837 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.00, for a total value of $454,599.00. Following the sale, the chief executive officer now owns 406,808 shares in the company, valued at $10,983,816. The disclosure for this sale can be found here. Insiders have sold a total of 152,590 shares of company stock valued at $4,116,255 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CNO has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target for the company in a report on Tuesday, April 16th. Evercore ISI increased their price objective on CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Wednesday, February 28th. StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada boosted their price objective on shares of CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.50.

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.