United Services Automobile Association lifted its holdings in shares of CNO Financial Group Inc (NYSE:CNO) by 20.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,127 shares of the financial services provider’s stock after purchasing an additional 83,122 shares during the period. United Services Automobile Association owned about 0.30% of CNO Financial Group worth $9,332,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CNO. Private Management Group Inc. grew its stake in CNO Financial Group by 8.0% in the 2nd quarter. Private Management Group Inc. now owns 331,203 shares of the financial services provider’s stock worth $6,306,000 after acquiring an additional 24,433 shares during the period. California Public Employees Retirement System grew its stake in CNO Financial Group by 5.5% in the 2nd quarter. California Public Employees Retirement System now owns 634,242 shares of the financial services provider’s stock worth $12,076,000 after acquiring an additional 32,798 shares during the period. Millennium Management LLC grew its stake in CNO Financial Group by 17.5% in the 2nd quarter. Millennium Management LLC now owns 532,771 shares of the financial services provider’s stock worth $10,144,000 after acquiring an additional 79,507 shares during the period. MetLife Investment Advisors LLC grew its stake in CNO Financial Group by 2.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 181,635 shares of the financial services provider’s stock worth $3,458,000 after acquiring an additional 3,998 shares during the period. Finally, Prana Capital Management LP purchased a new stake in CNO Financial Group in the 2nd quarter worth approximately $5,626,000. 92.60% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Zacks Investment Research raised shares of CNO Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 target price on shares of CNO Financial Group in a research note on Friday, August 17th. ValuEngine raised shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, B. Riley lowered their target price on shares of CNO Financial Group from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. CNO Financial Group has a consensus rating of “Hold” and an average target price of $23.80.
In other CNO Financial Group news, EVP Bruce K. Baude sold 33,000 shares of CNO Financial Group stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $22.17, for a total value of $731,610.00. Following the transaction, the executive vice president now owns 52,047 shares in the company, valued at approximately $1,153,881.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.
CNO stock opened at $21.65 on Tuesday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 10.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.14 and a quick ratio of 0.14. CNO Financial Group Inc has a one year low of $18.65 and a one year high of $26.47.
CNO Financial Group (NYSE:CNO) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts expect that CNO Financial Group Inc will post 1.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Monday, September 10th were issued a $0.10 dividend. The ex-dividend date was Friday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.85%. CNO Financial Group’s dividend payout ratio (DPR) is presently 19.80%.
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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