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New York State Common Retirement Fund Cuts Stock Position in CNO Financial Group, Inc. (NYSE:CNO)

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New York State Common Retirement Fund lessened its stake in CNO Financial Group, Inc. (NYSE:CNO) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,359 shares of the financial services provider’s stock after selling 23,506 shares during the period. New York State Common Retirement Fund’s holdings in CNO Financial Group were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of CNO. Pinz Capital Management LP acquired a new stake in CNO Financial Group in the second quarter worth about $92,000. Advisor Group Holdings Inc. boosted its holdings in CNO Financial Group by 15.7% in the second quarter. Advisor Group Holdings Inc. now owns 6,576 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 892 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in CNO Financial Group in the second quarter worth about $211,000. Meritage Portfolio Management acquired a new stake in CNO Financial Group in the third quarter worth about $229,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in CNO Financial Group in the second quarter worth about $265,000. 97.47% of the stock is owned by institutional investors and hedge funds.

CNO Financial Group stock opened at $25.53 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.55. CNO Financial Group, Inc. has a 52 week low of $21.06 and a 52 week high of $27.89. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 7.90 and a beta of 1.34. The stock has a 50-day moving average price of $24.21 and a 200 day moving average price of $24.00.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.11. The company had revenue of $968.30 million during the quarter. CNO Financial Group had a return on equity of 6.44% and a net margin of 10.60%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. Research analysts anticipate that CNO Financial Group, Inc. will post 2.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 24th. Investors of record on Friday, December 10th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.04%. The ex-dividend date was Thursday, December 9th. CNO Financial Group’s dividend payout ratio is currently 16.10%.

Several equities research analysts have weighed in on the company. Morgan Stanley raised their price target on CNO Financial Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Investment Research raised CNO Financial Group from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, December 21st. Finally, Piper Sandler downgraded CNO Financial Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a report on Wednesday, January 5th.

CNO Financial Group Company Profile

CNO Financial Group, Inc is an insurance holding company, which engages in developing, marketing, and administering health insurance, annuity, individual life insurance and other insurance products. It operates through the following segments: Bankers Life, Washington National, and Colonial Penn. The Bankers Life segment markets and distributes medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a dedicated field force of career agents and sales managers supported by a network of community-based sales offices.

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