SG Americas Securities LLC Trims Stock Position in CNO Financial Group, Inc. $CNO

SG Americas Securities LLC trimmed its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 73.9% in the first quarter, Holdings Channel reports. The fund owned 9,225 shares of the financial services provider’s stock after selling 26,156 shares during the period. SG Americas Securities LLC’s holdings in CNO Financial Group were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lighthouse Investment Partners LLC purchased a new stake in shares of CNO Financial Group during the third quarter worth approximately $8,018,000. JPMorgan Chase & Co. lifted its holdings in shares of CNO Financial Group by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock worth $34,903,000 after purchasing an additional 91,417 shares during the period. Franklin Resources Inc. grew its position in CNO Financial Group by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock valued at $170,157,000 after buying an additional 42,467 shares during the last quarter. Tudor Investment Corp ET AL grew its position in CNO Financial Group by 16.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 441,205 shares of the financial services provider’s stock valued at $17,450,000 after buying an additional 62,615 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in CNO Financial Group in the 4th quarter valued at $5,871,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Keefe, Bruyette & Woods lifted their target price 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. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Evercore set a $48.00 price target on shares of CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Activity

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 company’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 value of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. This represents 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 90 days. 3.44% of the stock is currently owned by company insiders.

CNO Financial Group Stock Performance

NYSE:CNO opened at $52.88 on Friday. The firm’s fifty day simple moving average is $48.81 and its 200-day simple moving average is $44.50. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61. The stock has a market cap of $4.94 billion, a PE ratio of 21.24 and a beta of 0.81. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $53.55.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders 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 an increase 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 currently 28.92%.

CNO Financial Group Profile

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.