Principal Financial Group Inc. Reduces Position in CNO Financial Group, Inc. $CNO

Principal Financial Group Inc. trimmed its stake in CNO Financial Group, Inc. (NYSE:CNO) by 16.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,378,531 shares of the financial services provider’s stock after selling 275,962 shares during the quarter. Principal Financial Group Inc.’s holdings in CNO Financial Group were worth $54,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CNO. Turning Point Benefit Group Inc. purchased a new stake in CNO Financial Group during the 2nd quarter worth about $32,000. First Horizon Corp acquired a new stake in shares of CNO Financial Group during the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its stake in shares of CNO Financial Group by 123.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 649 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after buying an additional 336 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of CNO Financial Group by 637.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares during the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

CNO Financial Group Price Performance

CNO stock opened at $42.51 on Thursday. The stock has a 50-day moving average price of $42.02 and a two-hundred day moving average price of $40.16. CNO Financial Group, Inc. has a 12-month low of $34.63 and a 12-month high of $44.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.45. The company has a market cap of $4.05 billion, a PE ratio of 14.86 and a beta of 0.84.

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

CNO Financial Group Dividend Announcement

The firm also recently declared 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 was Wednesday, December 10th. This represents a $0.68 annualized dividend and a yield of 1.6%. CNO Financial Group’s dividend payout ratio (DPR) is presently 23.78%.

Insider Buying and Selling at CNO Financial Group

In related news, CIO Eric R. Johnson sold 48,665 shares of CNO Financial Group stock in a transaction on 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 transaction, the executive owned 671,542 shares in the company, valued at approximately $27,694,392.08. The trade was a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary C. Bhojwani sold 31,430 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the sale, the chief executive officer directly owned 195,926 shares of the company’s stock, valued at approximately $8,226,932.74. This trade represents a 13.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 89,378 shares of company stock valued at $3,722,146 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNO shares. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler raised their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods lifted their price objective on CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group upgraded 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 report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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.