Hsbc Holdings PLC Reduces Stock Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Hsbc Holdings PLC lessened its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 55.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,555 shares of the financial services provider’s stock after selling 28,938 shares during the quarter. Hsbc Holdings PLC’s holdings in CNO Financial Group were worth $659,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNO. Meritage Portfolio Management lifted its holdings in shares of CNO Financial Group by 2.1% in the 4th quarter. Meritage Portfolio Management now owns 17,920 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 377 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of CNO Financial Group by 18.0% in the third quarter. Assetmark Inc. now owns 4,166 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 634 shares during the period. Amalgamated Bank increased its holdings in shares of CNO Financial Group by 1.0% in the 4th quarter. Amalgamated Bank now owns 65,021 shares of the financial services provider’s stock valued at $1,814,000 after acquiring an additional 651 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in CNO Financial Group by 23.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,438 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 835 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in CNO Financial Group by 8.8% during the 4th quarter. Everhart Financial Group Inc. now owns 11,874 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 963 shares during the period. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Price Performance

CNO traded down $0.06 during trading on Friday, reaching $27.11. 579,071 shares of the stock were exchanged, compared to its average volume of 816,885. CNO Financial Group, Inc. has a 1 year low of $19.95 and a 1 year high of $28.39. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 7.90 and a beta of 1.03. The business’s 50 day moving average price is $26.61 and its two-hundred day moving average price is $26.38. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.18 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $935.76 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. CNO Financial Group’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts anticipate that CNO Financial Group, Inc. will post 3.1 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.15 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.21%. CNO Financial Group’s dividend payout ratio is currently 17.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research note on Tuesday, April 16th. StockNews.com lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Evercore ISI upped their price objective on shares of CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada boosted their target price on CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.50.

Insider Activity at CNO Financial Group

In related news, CEO Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $27.31, for a total value of $551,662.00. Following the completion of the transaction, the chief executive officer now owns 293,802 shares of the company’s stock, valued at approximately $8,023,732.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $27.31, for a total transaction of $551,662.00. Following the sale, the chief executive officer now owns 293,802 shares in the company, valued at $8,023,732.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karen Detoro sold 2,778 shares of CNO Financial Group stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $27.10, for a total transaction of $75,283.80. Following the completion of the sale, the insider now directly owns 69,605 shares of the company’s stock, valued at $1,886,295.50. The disclosure for this sale can be found here. Insiders have sold a total of 152,590 shares of company stock valued at $4,116,255 over the last quarter. Insiders own 3.00% of the company’s stock.

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.