Pzena Investment Management LLC Sells 377,365 Shares of CNO Financial Group, Inc. $CNO

Pzena Investment Management LLC cut its stake in CNO Financial Group, Inc. (NYSE:CNO) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,064,300 shares of the financial services provider’s stock after selling 377,365 shares during the period. Pzena Investment Management LLC owned approximately 2.23% of CNO Financial Group worth $109,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in CNO Financial Group in the 2nd quarter valued at $682,433,000. Principal Financial Group Inc. raised its stake in CNO Financial Group by 8.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider’s stock valued at $61,282,000 after acquiring an additional 114,000 shares during the period. Bank of America Corp DE lifted its stake in shares of CNO Financial Group by 6.2% during the 1st quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider’s stock worth $40,570,000 after buying an additional 57,804 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in CNO Financial Group during the second quarter worth approximately $44,529,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of CNO Financial Group by 7.6% in the third quarter. Assenagon Asset Management S.A. now owns 855,405 shares of the financial services provider’s stock valued at $45,259,000 after acquiring an additional 60,240 shares in the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other news, insider Jeanne Linnenbringer sold 6,560 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $54.99, for a total value of $360,734.40. Following the completion of the sale, the insider directly owned 34,188 shares in the company, valued at approximately $1,879,998.12. The trade was a 16.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen DeToro sold 9,374 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $54.98, for a total value of $515,382.52. Following the transaction, the insider owned 44,250 shares in the company, valued at approximately $2,432,865. The trade was a 17.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 47,995 shares of company stock valued at $2,641,336. Corporate insiders own 3.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNO. Zacks Research upgraded CNO Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Jefferies Financial Group lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $53.00 to $55.00 in a report on Friday, July 10th. Capital One Financial set a $70.00 target price on CNO Financial Group in a research report on Wednesday, August 26th. Weiss Ratings lowered shares of CNO Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.00.

CNO Financial Group Stock Up 0.7%

CNO stock opened at $57.82 on Thursday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 13.20 and a beta of 0.80. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a fifty day moving average of $54.75 and a 200-day moving average of $48.71. CNO Financial Group, Inc. has a fifty-two week low of $38.99 and a fifty-two week high of $58.94.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.80. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.01 billion. CNO Financial Group had a return on equity of 22.64% and a net margin of 9.19%. During the same period in the previous year, the company posted $1.29 EPS. As a group, equities research analysts predict that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Profile

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.