Allianz Asset Management GmbH Buys 641,950 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Allianz Asset Management GmbH increased its stake in CNO Financial Group by 70.9%, acquiring 641,950 shares, bringing their total holdings to approximately 1.56% of the company, valued at about $59.67 million.
• Wall Street analysts have mixed views on CNO Financial Group, with a consensus rating of "Moderate Buy" and a target price of $43.60, while some firms have downgraded their ratings.
• CNO Financial Group announced a quarterly dividend of $0.17 per share, translating to an annualized dividend of $0.68 and a dividend yield of 1.7%.

Allianz Asset Management GmbH lifted its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 70.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,546,745 shares of the financial services provider's stock after acquiring an additional 641,950 shares during the period. Allianz Asset Management GmbH owned approximately 1.56% of CNO Financial Group worth $59,673,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CNO. GAMMA Investing LLC lifted its holdings in shares of CNO Financial Group by 25.0% during the 1st quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider's stock worth $119,000 after acquiring an additional 572 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of CNO Financial Group during the 1st quarter worth $806,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CNO Financial Group by 5.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider's stock worth $571,000 after acquiring an additional 744 shares during the last quarter. Blue Trust Inc. raised its position in CNO Financial Group by 10.4% in the 1st quarter. Blue Trust Inc. now owns 4,804 shares of the financial services provider's stock worth $200,000 after purchasing an additional 451 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in CNO Financial Group by 42.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 8,471 shares of the financial services provider's stock worth $353,000 after purchasing an additional 2,507 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNO. Wall Street Zen downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $44.00 to $45.00 and gave the stock a "market perform" rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.60.

CNO Financial Group Price Performance

CNO stock opened at $38.89 on Friday. The firm's 50-day moving average price is $39.20 and its two-hundred day moving average price is $38.23. CNO Financial Group, Inc. has a 12-month low of $34.10 and a 12-month high of $43.20. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 14.35 and a beta of 0.90. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Friday, May 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. The firm had revenue of $968.30 million for the quarter. As a group, equities analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th were given a $0.17 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. CNO Financial Group's payout ratio is presently 25.09%.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.

Want to see what other hedge funds are holding CNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CNO Financial Group, Inc. (NYSE:CNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.