Pzena Investment Management LLC Has $118.31 Million Stake in CNO Financial Group, Inc. (NYSE:CNO)

Pzena Investment Management LLC decreased its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,179,386 shares of the financial services provider’s stock after selling 1,398,504 shares during the period. Pzena Investment Management LLC’s holdings in CNO Financial Group were worth $118,305,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CNO. Robeco Institutional Asset Management B.V. acquired a new position in shares of CNO Financial Group in the 3rd quarter valued at about $209,000. Meritage Portfolio Management increased its holdings in shares of CNO Financial Group by 9.3% in the 3rd quarter. Meritage Portfolio Management now owns 18,475 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 1,568 shares during the period. Versor Investments LP acquired a new position in shares of CNO Financial Group in the 3rd quarter valued at about $896,000. GSA Capital Partners LLP acquired a new position in shares of CNO Financial Group in the 3rd quarter valued at about $438,000. Finally, MQS Management LLC acquired a new position in shares of CNO Financial Group in the 3rd quarter valued at about $225,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

Insiders Place Their Bets

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 1,484 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $38.02, for a total transaction of $56,421.68. Following the completion of the sale, the chief marketing officer now owns 79,896 shares of the company’s stock, valued at $3,037,645.92. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott L. Goldberg sold 25,500 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.02, for a total value of $1,020,510.00. Following the completion of the sale, the insider now directly owns 169,342 shares of the company’s stock, valued at $6,777,066.84. This represents a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,584 shares of company stock valued at $5,597,404 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

CNO Financial Group Stock Down 2.6 %

Shares of CNO Financial Group stock opened at $38.60 on Tuesday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 10.32 and a beta of 1.02. 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 stock has a 50 day moving average price of $39.46 and a two-hundred day moving average price of $37.40. CNO Financial Group, Inc. has a 12-month low of $24.92 and a 12-month high of $42.41.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.66%. CNO Financial Group’s payout ratio is currently 17.11%.

Analyst Ratings Changes

CNO has been the topic of a number of research reports. Royal Bank of Canada upped their target price on CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Jefferies Financial Group boosted their price target on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets started coverage on CNO Financial Group in a research note on Thursday, January 23rd. They issued 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 target (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods boosted their price target on 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.50.

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.