CNO Financial Group, Inc. $CNO Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in CNO Financial Group, Inc. (NYSE:CNO) by 60.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,023 shares of the financial services provider’s stock after buying an additional 26,998 shares during the period. Hsbc Holdings PLC’s holdings in CNO Financial Group were worth $2,944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CNO. Richardson Financial Services Inc. purchased a new stake in CNO Financial Group during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $45,000 after purchasing an additional 649 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 336 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares in the last quarter. Finally, First Horizon Corp grew its holdings in CNO Financial Group by 119.7% during the 4th quarter. First Horizon Corp now owns 1,795 shares of the financial services provider’s stock valued at $76,000 after buying an additional 978 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Trading Up 1.1%

Shares of CNO stock opened at $53.16 on Friday. CNO Financial Group, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $54.09. The firm’s 50 day moving average price is $50.35 and its two-hundred day moving average price is $45.24. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 21.35 and a beta of 0.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.61.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a 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 28.92%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s 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 directly owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction 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 completion of 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 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 95,106 shares of company stock valued at $4,879,343 in the last ninety days. Company 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.