Raymond James Financial Services Advisors Inc. bought a new stake in shares of CNO Financial Group Inc (NYSE:CNO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,860 shares of the financial services provider’s stock, valued at approximately $264,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNO. Russell Investments Group Ltd. grew its position in CNO Financial Group by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,752,490 shares of the financial services provider’s stock valued at $37,975,000 after acquiring an additional 391,587 shares during the last quarter. Swiss National Bank grew its position in CNO Financial Group by 2.1% in the 1st quarter. Swiss National Bank now owns 294,000 shares of the financial services provider’s stock valued at $6,371,000 after acquiring an additional 6,100 shares during the last quarter. Schroder Investment Management Group bought a new position in CNO Financial Group in the 1st quarter valued at $4,800,000. OppenheimerFunds Inc. grew its position in CNO Financial Group by 2.0% in the 1st quarter. OppenheimerFunds Inc. now owns 793,356 shares of the financial services provider’s stock valued at $17,192,000 after acquiring an additional 15,477 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new position in CNO Financial Group in the 1st quarter valued at $196,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Bruce K. Baude sold 33,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $22.17, for a total transaction of $731,610.00. Following the transaction, the executive vice president now owns 52,047 shares of the company’s stock, valued at approximately $1,153,881.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.
CNO opened at $21.61 on Friday. CNO Financial Group Inc has a 12-month low of $18.65 and a 12-month high of $26.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $3.59 billion, a PE ratio of 10.96 and a beta of 1.13.
CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $0.45 EPS. CNO Financial Group’s quarterly revenue was down 1.0% compared to the same quarter last year. equities analysts expect that CNO Financial Group Inc will post 1.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Monday, September 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, September 7th. CNO Financial Group’s payout ratio is 19.80%.
Several equities analysts have commented on CNO shares. B. Riley cut 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. Morgan Stanley reaffirmed an “equal weight” rating on shares of CNO Financial Group in a research report on Thursday, May 31st. Zacks Investment Research raised CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price objective on shares of CNO Financial Group in a research report on Friday, August 17th. Finally, ValuEngine raised CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.80.
About CNO Financial Group
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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