The New York State Teachers’ Retirement System has reduced its stake in shares of CNO Financial Group, Inc. (NYSE: ONC – Get a rating) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor held 153,779 shares of the financial services provider after selling 1,979 shares during the quarter. The New York State Teachers’ Retirement System held about 0.13% of the CNO Financial Group worth $3,858,000 at the end of the last quarter.
Other institutional investors and hedge funds also bought and sold shares of the company. Strs Ohio increased its stake in shares of CNO Financial Group by 83.3% in the fourth quarter. Strs Ohio now owns 1,100 shares of the financial services provider valued at $26,000 after buying an additional 500 shares in the last quarter. Meritage Investment Management increased its stake in CNO Financial Group shares by 5.4% in the fourth quarter. Meritage Investment Management now owns 10,237 shares of the financial services provider valued at $244,000 after purchasing an additional 522 shares last quarter. Mercer Global Advisors Inc. ADV increased its stake in CNO Financial Group shares by 3.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 46,556 shares of the financial services provider valued at $1,110,000 after buying an additional 1,584 shares last quarter. CM Bidwell & Associates Ltd. bought a new stock position in CNO Financial Group in the fourth quarter worth $39,000. Finally, Raymond James & Associates increased its stake in CNO Financial Group shares by 3.4% in the fourth quarter. Raymond James & Associates now owns 54,565 shares of the financial services provider valued at $1,301,000 after buying an additional 1,796 shares last quarter. 96.18% of the shares are held by institutional investors.
Wall Street analysts predict growth
A number of research analysts have weighed in on the stock. Piper Sandler lowered her price target on CNO Financial Group shares from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday July 8. Morgan Stanley lowered its price target on CNO Financial Group shares from $27.00 to $23.00 and set an “equal weight” rating for the company in a Wednesday, July 6 report. To finish, StockNews.com began covering CNO Financial Group shares in a report on Thursday, March 31. They issued a “holding” rating for the company. Four investment analysts gave the stock a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.33.
Performance of CNO Financial Group shares
Shares of NOC Action opened at $17.14 on Monday. CNO Financial Group, Inc. has a one-year low of $16.56 and a one-year high of $26.74. The company has a 50-day moving average of $18.98 and a 200-day moving average of $22.68. The company has a debt ratio of 0.75, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $1.99 billion, a P/E ratio of 5.34 and a beta of 1.21.
NOC Financial Group (NYSE: ONC – Get a rating) last released its quarterly earnings data on Monday, May 2. The financial services provider reported earnings per share (EPS) of $0.42 for the quarter, missing analyst consensus estimates of $0.57 per ($0.15). CNO Financial Group achieved a return on equity of 7.00% and a net margin of 10.25%. The company posted revenue of $842.90 million for the quarter, compared to $915.85 million expected by analysts. In the same quarter last year, the company posted EPS of $0.55. Equity research analysts expect CNO Financial Group, Inc. to post EPS of 1.92 for the current fiscal year.
CNO Financial Group increases its dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 24. Shareholders of record on Friday, June 10 received a dividend of $0.14. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, June 9. This represents an annualized dividend of $0.56 and a dividend yield of 3.27%. CNO Financial Group’s dividend payout ratio (DPR) is currently 17.45%.
Insider Trading at CNO Financial Group
In other news, Director Frederick James Sievert sold 3,000 shares of CNO Financial Group in a trade dated Friday May 6. The shares were sold at an average price of $21.56, for a total value of $64,680.00. Following completion of the transaction, the administrator now owns 62,421 shares of the company, valued at $1,345,796.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. Company insiders hold 2.70% of the company’s shares.
About CNO Financial Group
CNO Financial Group, Inc, through its subsidiaries, develops, markets and administers health, annuity, individual life and other insurance products for the senior and middle income in the United States. It offers Medicare supplemental insurance, supplemental health insurance, and long-term care policies; life insurance; and annuities, as well as personal Medicare benefit plans by phone, online, mail, and face-to-face.
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