Allianz Asset Management GmbH Acquires 10,846 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Allianz Asset Management GmbH grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 848,407 shares of the financial services provider’s stock after purchasing an additional 10,846 shares during the quarter. Allianz Asset Management GmbH’s holdings in CNO Financial Group were worth $31,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. grew its position 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 valued at $36,000 after acquiring an additional 325 shares during the period. Sound Income Strategies LLC bought a new stake in shares of CNO Financial Group during the 4th quarter valued at $54,000. CWM LLC grew its position in shares of CNO Financial Group by 53.0% during the 3rd quarter. CWM LLC now owns 1,750 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 606 shares during the period. GAMMA Investing LLC lifted its stake in shares of CNO Financial Group by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 2,289 shares of the financial services provider’s stock valued at $85,000 after buying an additional 304 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of CNO Financial Group by 26.7% during the 3rd quarter. KBC Group NV now owns 3,349 shares of the financial services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNO. BMO Capital Markets began coverage on shares of CNO Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $46.00 target price (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted 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 research note on Wednesday, February 12th. Royal Bank of Canada lifted their target price on shares of CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group lifted their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $40.50.

Insider Activity

In other news, CMO Rocco F. Tarasi III sold 1,484 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $38.02, for a total transaction of $56,421.68. Following the sale, the chief marketing officer now directly owns 79,896 shares in the company, valued at approximately $3,037,645.92. This represents a 1.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Matthew J. Zimpfer sold 40,800 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $40.10, for a total transaction of $1,636,080.00. Following the transaction, the general counsel now owns 204,143 shares in the company, valued at $8,186,134.30. The trade was a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,584 shares of company stock worth $3,554,089. 3.00% of the stock is currently owned by corporate insiders.

CNO Financial Group Stock Down 2.0 %

Shares of CNO stock opened at $39.81 on Monday. The stock has a market cap of $4.11 billion, a P/E ratio of 10.64 and a beta of 1.04. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $42.02. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.61. The company’s fifty day simple moving average is $38.72 and its two-hundred day simple moving average is $36.77.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, topping 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%. Analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 10th. CNO Financial Group’s dividend payout ratio is 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.