Corebridge Financial Inc. Has $6.27 Million Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

Corebridge Financial Inc. reduced its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,431 shares of the financial services provider’s stock after selling 12,171 shares during the quarter. Corebridge Financial Inc.’s holdings in CNO Financial Group were worth $6,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in CNO Financial Group by 368.2% during the fourth quarter. Jones Financial Companies Lllp now owns 796 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 626 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in CNO Financial Group by 95.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 855 shares of the financial services provider’s stock worth $32,000 after buying an additional 417 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of CNO Financial Group by 51.6% during the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after buying an additional 325 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of CNO Financial Group in the 4th quarter valued at about $54,000. Finally, GAMMA Investing LLC increased its position in shares of CNO Financial Group by 15.3% in the fourth quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 304 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In related news, General Counsel Matthew J. Zimpfer sold 40,800 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $41.49, for a total transaction of $1,692,792.00. Following the transaction, the general counsel now directly owns 244,943 shares of the company’s stock, valued at approximately $10,162,685.07. This trade represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yvonne K. Franzese sold 8,109 shares of CNO Financial Group stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $42.00, for a total transaction of $340,578.00. Following the completion of the sale, the insider now owns 38,540 shares of the company’s stock, valued at $1,618,680. This trade represents a 17.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,819 shares of company stock worth $5,886,922 in the last ninety days. 3.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNO. BMO Capital Markets started coverage on CNO Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 price target for the company. Piper Sandler reissued an “overweight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of CNO Financial Group in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Jefferies Financial Group lifted their price objective on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.50.

CNO Financial Group Price Performance

NYSE:CNO opened at $41.46 on Friday. The firm’s fifty day moving average price is $40.45 and its two-hundred day moving average price is $38.06. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.22 and a quick ratio of 0.19. The company has a market cap of $4.16 billion, a P/E ratio of 11.09 and a beta of 1.02. CNO Financial Group, Inc. has a one year low of $24.92 and a one year high of $43.20.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.20%. Equities analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 1.54%. CNO Financial Group’s payout ratio is currently 17.11%.

About CNO Financial Group

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.