Franklin Resources Inc. Lowers Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Franklin Resources Inc. lowered its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,144,292 shares of the financial services provider’s stock after selling 122,250 shares during the quarter. Franklin Resources Inc. owned 4.02% of CNO Financial Group worth $154,209,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC raised its holdings in CNO Financial Group by 15.3% in 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 during the period. Principal Securities Inc. lifted its holdings in shares of CNO Financial Group by 51.6% in the 4th quarter. Principal Securities Inc. now owns 955 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 325 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CNO Financial Group by 1.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,647 shares of the financial services provider’s stock worth $795,000 after purchasing an additional 376 shares during the period. HighTower Advisors LLC increased its holdings in CNO Financial Group by 5.3% in the 4th quarter. HighTower Advisors LLC now owns 7,873 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 394 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in CNO Financial Group by 2.6% in the fourth quarter. Corient Private Wealth LLC now owns 15,634 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Trading Up 1.2 %

Shares of NYSE:CNO opened at $42.47 on Thursday. CNO Financial Group, Inc. has a 52 week low of $24.92 and a 52 week high of $43.20. The company’s 50 day moving average is $40.63 and its two-hundred day moving average is $38.26. The company has a market cap of $4.26 billion, a PE ratio of 11.36 and a beta of 1.02. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.61.

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

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.16 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.64 annualized dividend and a yield of 1.51%. CNO Financial Group’s dividend payout ratio is presently 17.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group raised their price target on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price target on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. BMO Capital Markets assumed coverage on shares of CNO Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of CNO Financial Group from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Insider Activity

In other news, insider Jeremy David Williams sold 3,393 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $41.77, for a total transaction of $141,725.61. Following the completion of the sale, the insider now owns 56,599 shares in the company, valued at approximately $2,364,140.23. This represents a 5.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yvonne K. Franzese sold 2,013 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.18, for a total value of $84,908.34. Following the sale, the insider now directly owns 26,994 shares of the company’s stock, valued at $1,138,606.92. The trade was a 6.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,512 shares of company stock valued at $6,497,710. Insiders own 3.00% of the company’s stock.

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.