Hsbc Holdings PLC Takes $3.17 Million Position in CNO Financial Group, Inc. $CNO

Hsbc Holdings PLC purchased a new position in CNO Financial Group, Inc. (NYSE:CNO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,597 shares of the financial services provider’s stock, valued at approximately $3,169,000. Hsbc Holdings PLC owned approximately 0.07% of CNO Financial Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in CNO Financial Group by 123.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 649 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of CNO Financial Group by 75.4% during the 1st quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 487 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of 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 valued at $46,000 after purchasing an additional 336 shares in the last quarter. Versant Capital Management Inc grew its position in shares of CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 474 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 1,243 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Up 0.5%

Shares of NYSE:CNO opened at $55.41 on Friday. The firm has a market capitalization of $5.13 billion, a PE ratio of 19.04 and a beta of 0.81. CNO Financial Group, Inc. has a 1 year low of $38.22 and a 1 year high of $57.59. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. The firm’s 50-day moving average is $53.50 and its two-hundred day moving average is $47.39.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $0.97 by $0.29. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Analysts predict that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group’s dividend payout ratio (DPR) is currently 24.74%.

Wall Street Analysts Forecast Growth

CNO has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Capital One Financial set a $70.00 price objective on shares of CNO Financial Group in a report on Wednesday. Weiss Ratings upgraded shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Finally, Evercore set a $48.00 target price on shares of CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.00.

Insider Buying and Selling at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 CNO Financial Group stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 95,106 shares of company stock valued at $4,879,343. Insiders own 3.44% of the company’s stock.

CNO Financial Group Company 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.