Louisiana State Employees Retirement System Invests $1.12 Million in CNO Financial Group, Inc. $CNO

Louisiana State Employees Retirement System purchased a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,400 shares of the financial services provider’s stock, valued at approximately $1,125,000.

Several other large investors have also recently modified their holdings of the stock. Richardson Financial Services Inc. purchased a new stake in CNO Financial Group during the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its holdings in CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares during the last quarter. Osaic Holdings Inc. raised its holdings in CNO Financial Group by 39.2% in 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 during the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 worth $60,000 after buying an additional 1,243 shares during the last quarter. Finally, First Horizon Corp lifted its stake in shares of CNO Financial Group by 119.7% in the fourth quarter. First Horizon Corp now owns 1,795 shares of the financial services provider’s stock worth $76,000 after buying an additional 978 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Price Performance

Shares of NYSE:CNO opened at $52.35 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 21.03 and a beta of 0.81. The business has a 50-day simple moving average of $48.12 and a two-hundred day simple moving average of $44.22. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $53.03.

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. The ex-dividend date of this dividend 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 dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio is presently 28.92%.

Insider Buying and Selling

In related news, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares in the company, valued at $3,959,550. This represents a 6.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

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.