Pzena Investment Management LLC Trims Stock Holdings in CNO Financial Group, Inc. $CNO

Pzena Investment Management LLC trimmed its position in CNO Financial Group, Inc. (NYSE:CNO) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,462,868 shares of the financial services provider’s stock after selling 79,253 shares during the period. Pzena Investment Management LLC owned 2.58% of CNO Financial Group worth $104,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in CNO Financial Group by 1.0% in the third quarter. Franklin Resources Inc. now owns 4,302,316 shares of the financial services provider’s stock worth $170,157,000 after purchasing an additional 42,467 shares during the period. American Century Companies Inc. grew its stake in CNO Financial Group by 3.8% in the third quarter. American Century Companies Inc. now owns 3,239,944 shares of the financial services provider’s stock worth $128,140,000 after purchasing an additional 118,417 shares during the period. AQR Capital Management LLC grew its stake in CNO Financial Group by 8.1% in the third quarter. AQR Capital Management LLC now owns 898,238 shares of the financial services provider’s stock worth $35,525,000 after purchasing an additional 66,937 shares during the period. JPMorgan Chase & Co. grew its stake in CNO Financial Group by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock worth $34,903,000 after purchasing an additional 91,417 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of CNO Financial Group by 32.6% in the second quarter. Balyasny Asset Management L.P. now owns 764,867 shares of the financial services provider’s stock worth $29,509,000 after acquiring an additional 187,974 shares during the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Trading Up 0.3%

NYSE CNO opened at $47.37 on Friday. CNO Financial Group, Inc. has a 12 month low of $35.24 and a 12 month high of $47.95. The stock has a market cap of $4.42 billion, a P/E ratio of 19.02 and a beta of 0.82. The stock’s fifty day moving average price is $43.08 and its 200-day moving average price is $42.30. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 10th. CNO Financial Group’s payout ratio is 27.31%.

Insider Activity at CNO Financial Group

In related news, insider Scott L. Goldberg sold 11,060 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.97, for a total transaction of $442,068.20. Following the sale, the insider directly owned 214,524 shares of the company’s stock, valued at $8,574,524.28. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CNO has been the topic of a number of recent research reports. Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods increased their target price on CNO Financial Group from $46.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Monday, April 20th. Finally, Evercore reissued an “underperform” rating and issued a $43.00 target price on shares of CNO Financial Group in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.50.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.