Jennison Associates LLC Sells 25,033 Shares of CNO Financial Group, Inc. $CNO

Jennison Associates LLC trimmed its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 45.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,469 shares of the financial services provider’s stock after selling 25,033 shares during the period. Jennison Associates LLC’s holdings in CNO Financial Group were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of CNO Financial Group during the fourth quarter worth $18,297,000. Jain Global LLC bought a new position in shares of CNO Financial Group in the fourth quarter worth $17,996,000. Millennium Management LLC grew its position in shares of CNO Financial Group by 190.3% in the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after purchasing an additional 379,984 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of CNO Financial Group by 35.6% during the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock valued at $51,730,000 after purchasing an additional 319,795 shares during the period. Finally, Morgan Stanley raised its stake in shares of CNO Financial Group by 20.5% during the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock valued at $79,461,000 after purchasing an additional 317,690 shares during the period. Institutional investors own 95.43% of the company’s stock.

Insider Transactions at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 86,048 shares of CNO Financial Group stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. The trade was a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,106 shares of company stock worth $4,879,343 over the last 90 days. Corporate insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

CNO has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a report on Friday, July 17th. Jefferies Financial Group cut CNO Financial Group from a “buy” rating to a “hold” rating and upped their price target for the company from $53.00 to $55.00 in a research report on Friday, July 10th. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods raised their price objective on shares of CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Finally, Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the company an “in-line” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.50.

CNO Financial Group Trading Up 0.0%

CNO Financial Group stock opened at $53.03 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $54.09. The stock has a market cap of $4.95 billion, a P/E ratio of 21.30 and a beta of 0.81. The firm’s fifty day moving average price is $50.11 and its 200-day moving average price is $45.11.

CNO Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is presently 28.92%.

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.