Retirement Systems of Alabama Lowers Stock Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Retirement Systems of Alabama cut its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 315,094 shares of the financial services provider’s stock after selling 2,986 shares during the period. Retirement Systems of Alabama’s holdings in CNO Financial Group were worth $11,725,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CNO. Sound Income Strategies LLC acquired a new stake in CNO Financial Group in the fourth quarter valued at about $54,000. CWM LLC boosted its position in shares of CNO Financial Group by 53.0% during the 3rd quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 606 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CNO Financial Group by 141.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,164 shares during the period. KBC Group NV increased its holdings in shares of CNO Financial Group by 26.7% in the 3rd quarter. KBC Group NV now owns 3,349 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 706 shares in the last quarter. Finally, Connable Office Inc. acquired a new stake in shares of CNO Financial Group in the third quarter valued at about $207,000. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total value of $168,795.00. Following the sale, the chief marketing officer now directly owns 72,896 shares of the company’s stock, valued at approximately $2,734,328.96. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the sale, the insider now owns 62,121 shares of the company’s stock, valued at $2,490,430.89. This trade represents a 7.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,745 shares of company stock worth $572,467. 3.21% of the stock is owned by insiders.

CNO Financial Group Price Performance

CNO stock opened at $41.07 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The stock’s 50 day moving average price is $38.24 and its 200 day moving average price is $36.07. The firm has a market cap of $4.24 billion, a P/E ratio of 16.56 and a beta of 1.04. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $41.54.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. On average, sell-side analysts expect that CNO Financial Group, Inc. will post 3.73 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 24th. Investors of record on Tuesday, December 10th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, December 10th. CNO Financial Group’s payout ratio is 25.81%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank of Canada upped their target price on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Piper Sandler raised their price objective on CNO Financial Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets started coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.17.

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.