State of New Jersey Common Pension Fund D Sells 8,745 Shares of CNO Financial Group, Inc. (NYSE:CNO)

State of New Jersey Common Pension Fund D reduced its stake in CNO Financial Group, Inc. (NYSE:CNO) by 13.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 58,616 shares of the financial services provider’s stock after selling 8,745 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CNO Financial Group were worth $2,057,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CNO. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of CNO Financial Group in the second quarter valued at about $852,000. State Board of Administration of Florida Retirement System lifted its stake in CNO Financial Group by 30.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 105,374 shares of the financial services provider’s stock valued at $2,896,000 after acquiring an additional 24,844 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in CNO Financial Group by 680.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,584 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 30,150 shares during the last quarter. Interval Partners LP bought a new position in shares of CNO Financial Group during the 2nd quarter worth approximately $2,360,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of CNO Financial Group by 97.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 622,348 shares of the financial services provider’s stock valued at $17,251,000 after purchasing an additional 306,751 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNO has been the subject of several recent research reports. Piper Sandler increased their target price on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on CNO Financial Group from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Evercore ISI upped their target price on CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.50.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $38.96 on Friday. The company has a fifty day moving average price of $35.40 and a two-hundred day moving average price of $31.73. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $40.29. The stock has a market cap of $4.02 billion, a P/E ratio of 15.71 and a beta of 1.01. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.29. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $945.44 million. During the same period last year, the business posted $0.88 EPS. CNO Financial Group’s revenue was up 19.2% on a year-over-year basis. As a group, equities analysts predict that CNO Financial Group, Inc. will post 3.63 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.64%. CNO Financial Group’s dividend payout ratio is currently 25.81%.

Insider Buying and Selling

In other news, insider Jeremy David Williams sold 4,783 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the sale, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. This trade represents a 7.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now owns 37,663 shares in the company, valued at approximately $1,290,334.38. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,582 shares of company stock valued at $565,050. 3.00% of the stock is owned by insiders.

CNO Financial Group Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.