Bridgewater Associates LP Lowers Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Bridgewater Associates LP trimmed its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 17.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 187,210 shares of the financial services provider’s stock after selling 38,411 shares during the period. Bridgewater Associates LP’s holdings in CNO Financial Group were worth $6,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CNO. Price T Rowe Associates Inc. MD lifted its holdings in CNO Financial Group by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 80,995 shares of the financial services provider’s stock valued at $2,226,000 after acquiring an additional 4,304 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of CNO Financial Group in the first quarter valued at about $203,000. First Financial Bank Trust Division purchased a new stake in CNO Financial Group during the second quarter worth about $343,000. Harbor Capital Advisors Inc. grew its position in CNO Financial Group by 269.9% during the second quarter. Harbor Capital Advisors Inc. now owns 13,884 shares of the financial services provider’s stock worth $385,000 after buying an additional 10,131 shares during the period. Finally, CWM LLC lifted its position in shares of CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 447 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeremy David Williams sold 4,783 shares of the company’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 transaction, the insider now owns 62,121 shares of the company’s stock, valued at $2,490,430.89. This represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the transaction, the insider now owns 37,663 shares in the company, valued at approximately $1,290,334.38. The trade was a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,560 shares of company stock valued at $720,550 over the last 90 days. Insiders own 3.00% of the company’s stock.

CNO Financial Group Trading Down 0.6 %

Shares of CNO Financial Group stock opened at $39.90 on Friday. CNO Financial Group, Inc. has a 1 year low of $24.92 and a 1 year high of $40.91. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The business has a 50 day moving average price of $36.51 and a 200 day moving average price of $32.49. The company has a market capitalization of $4.12 billion, a P/E ratio of 16.12 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data 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. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The business’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.73 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.60%. CNO Financial Group’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analysts Forecast Growth

CNO has been the topic of a number of research reports. Royal Bank of Canada upped their price target on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Piper Sandler raised their price target on CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.50.

CNO Financial Group Company 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.