Employees Retirement System of Texas lessened its stake in shares of CNO Financial Group Inc (NYSE:CNO) by 32.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 97,000 shares of the financial services provider’s stock after selling 47,000 shares during the period. Employees Retirement System of Texas’ holdings in CNO Financial Group were worth $1,847,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Profund Advisors LLC grew its holdings in CNO Financial Group by 11.2% during the first quarter. Profund Advisors LLC now owns 28,726 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 2,893 shares during the period. Piedmont Investment Advisors LLC lifted its position in shares of CNO Financial Group by 3.4% in the second quarter. Piedmont Investment Advisors LLC now owns 87,781 shares of the financial services provider’s stock valued at $1,671,000 after acquiring an additional 2,902 shares in the last quarter. Arizona State Retirement System lifted its position in shares of CNO Financial Group by 3.0% in the second quarter. Arizona State Retirement System now owns 116,192 shares of the financial services provider’s stock valued at $2,212,000 after acquiring an additional 3,346 shares in the last quarter. Comerica Bank lifted its position in shares of CNO Financial Group by 2.3% in the second quarter. Comerica Bank now owns 159,865 shares of the financial services provider’s stock valued at $3,172,000 after acquiring an additional 3,615 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of CNO Financial Group by 3.7% in the second quarter. Bank of Montreal Can now owns 108,600 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 3,889 shares in the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.
Shares of CNO Financial Group stock opened at $21.81 on Thursday. CNO Financial Group Inc has a 52 week low of $18.65 and a 52 week high of $26.47. The stock has a market capitalization of $3.56 billion, a PE ratio of 10.86 and a beta of 1.13. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.58.
CNO Financial Group (NYSE:CNO) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. CNO Financial Group’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. equities research analysts anticipate that CNO Financial Group Inc will post 1.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Monday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. CNO Financial Group’s dividend payout ratio is currently 19.80%.
Several brokerages have recently commented on CNO. Zacks Investment Research upgraded CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.00 price objective on shares of CNO Financial Group in a research report on Friday, August 17th. Morgan Stanley restated an “equal weight” rating on shares of CNO Financial Group in a research report on Thursday, May 31st. ValuEngine upgraded CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, B. Riley lowered their price objective on CNO Financial Group from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.80.
In related news, EVP Bruce K. Baude sold 33,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $22.17, for a total value of $731,610.00. Following the sale, the executive vice president now directly owns 52,047 shares in the company, valued at $1,153,881.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.
CNO Financial Group Company Profile
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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