Nomura Holdings Inc. Acquires New Position in CNO Financial Group, Inc. (NYSE:CNO)

Nomura Holdings Inc. bought a new position in CNO Financial Group, Inc. (NYSE:CNO) in the 4th quarter, Holdings Channel reports. The fund bought 158,731 shares of the financial services provider’s stock, valued at approximately $5,906,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its stake in shares of CNO Financial Group by 51.6% in the fourth quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 325 shares in the last quarter. Mariner LLC boosted its holdings in CNO Financial Group by 6.7% in the 4th quarter. Mariner LLC now owns 6,116 shares of the financial services provider’s stock worth $228,000 after buying an additional 385 shares during the period. HighTower Advisors LLC increased its stake in CNO Financial Group by 5.3% in the 4th quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider’s stock worth $293,000 after buying an additional 394 shares in the last quarter. Corient Private Wealth LLC raised its holdings in CNO Financial Group by 2.6% during the fourth quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 400 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of CNO Financial Group by 95.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 417 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

CNO Financial Group Trading Up 0.8%

CNO stock opened at $38.74 on Friday. The firm has a fifty day moving average price of $39.10 and a 200 day moving average price of $38.93. CNO Financial Group, Inc. has a fifty-two week low of $26.36 and a fifty-two week high of $43.20. The firm has a market cap of $3.84 billion, a PE ratio of 10.36 and a beta of 0.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $975.80 million. During the same period last year, the company posted $0.52 EPS. The business’s revenue was down 13.2% on a year-over-year basis. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. CNO Financial Group’s dividend payout ratio is 23.78%.

Insider Activity

In other CNO Financial Group news, insider Jeremy David Williams sold 11,300 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $41.51, for a total value of $469,063.00. Following the completion of the sale, the insider now owns 65,299 shares of the company’s stock, valued at $2,710,561.49. This trade represents a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $40.10, for a total value of $1,636,080.00. Following the transaction, the general counsel now owns 204,143 shares of the company’s stock, valued at $8,186,134.30. This trade represents a 16.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,512 shares of company stock valued at $6,497,710 in the last ninety days. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CNO shares. BMO Capital Markets began coverage on CNO Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler lifted their price target on shares of CNO Financial Group from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.00.

CNO Financial Group Profile

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.