Weiss Asset Management LP Acquires New Holdings in CNO Financial Group, Inc. $CNO

Weiss Asset Management LP bought a new stake in CNO Financial Group, Inc. (NYSE:CNO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 27,800 shares of the financial services provider’s stock, valued at approximately $1,141,000.

A number of other large investors have also added to or reduced their stakes in CNO. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of CNO Financial Group in the 4th quarter worth approximately $18,297,000. Jain Global LLC bought a new position in shares of CNO Financial Group during the 4th quarter worth approximately $17,996,000. Millennium Management LLC lifted its position in CNO Financial Group by 190.3% during the third quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after acquiring an additional 379,984 shares during the last quarter. AQR Capital Management LLC lifted its position in CNO Financial Group by 35.6% during the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock valued at $51,730,000 after acquiring an additional 319,795 shares during the last quarter. Finally, Morgan Stanley boosted its stake in CNO Financial Group by 20.5% in the fourth quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock valued at $79,461,000 after acquiring an additional 317,690 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Stock Down 0.2%

NYSE:CNO opened at $53.12 on Tuesday. The company has a market cap of $4.96 billion, a PE ratio of 21.33 and a beta of 0.81. CNO Financial Group, Inc. has a twelve month low of $35.24 and a twelve month high of $54.09. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. The company’s 50 day moving average is $50.45 and its two-hundred day moving average is $45.33.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. CNO Financial Group’s dividend payout ratio is presently 28.92%.

Insiders Place Their Bets

In other CNO Financial Group 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 of the company’s stock, valued at approximately $8,971,110.72. The trade was 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 shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the sale, the chief marketing officer owned 79,191 shares in the company, valued at approximately $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 have sold 95,106 shares of company stock worth $4,879,343 over the last three months. Corporate insiders own 3.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CNO has been the topic of several analyst reports. Jefferies Financial Group lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods raised their price objective on CNO Financial Group from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Friday, July 17th. Finally, Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.50.

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.