Northern Trust Corp lessened its stake in CNO Financial Group Inc (NYSE:CNO) by 0.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,263,053 shares of the financial services provider’s stock after selling 1,277 shares during the quarter. Northern Trust Corp’s holdings in CNO Financial Group were worth $63,433,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Blueshift Asset Management LLC acquired a new stake in CNO Financial Group in the fourth quarter worth about $752,000. O Shaughnessy Asset Management LLC lifted its holdings in CNO Financial Group by 6.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 25,258 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 1,424 shares during the period. Rafferty Asset Management LLC acquired a new stake in CNO Financial Group in the fourth quarter worth about $1,727,000. Raymond James & Associates lifted its holdings in CNO Financial Group by 16.0% in the fourth quarter. Raymond James & Associates now owns 57,328 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 7,906 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in CNO Financial Group by 116.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,450 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 16,401 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.
In other CNO Financial Group news, Director Stephen N. David purchased 3,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was bought at an average cost of $13.85 per share, with a total value of $41,550.00. Following the acquisition, the director now owns 23,206 shares of the company’s stock, valued at $321,403.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.14). CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The business had revenue of $778.20 million during the quarter, compared to analyst estimates of $981.90 million. During the same period in the previous year, the company posted $0.51 earnings per share. CNO Financial Group’s revenue was down 28.6% compared to the same quarter last year. On average, equities research analysts forecast that CNO Financial Group Inc will post 2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, March 8th. CNO Financial Group’s payout ratio is 21.86%.
Several research firms recently weighed in on CNO. Zacks Investment Research raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, January 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $21.00 price target on shares of CNO Financial Group in a report on Thursday, February 14th. Evercore ISI raised shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.50.
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CNO Financial Group Company Profile
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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