Allspring Global Investments Holdings LLC Buys 561,327 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Allspring Global Investments Holdings LLC increased its stake in CNO Financial Group by 72.7% during the second quarter, acquiring an additional 561,327 shares worth approximately $51.6 million.
• Institutional investors now own 95.43% of CNO Financial Group, indicating strong interest from large financial entities.
• CNO Financial Group's stock has been given a consensus rating of "Moderate Buy" with an average price target of $43.60, according to recent analyst reports.

Allspring Global Investments Holdings LLC grew its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 72.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,333,698 shares of the financial services provider's stock after acquiring an additional 561,327 shares during the period. Allspring Global Investments Holdings LLC owned about 1.35% of CNO Financial Group worth $51,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its position in shares of CNO Financial Group by 8.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,899 shares of the financial services provider's stock valued at $999,000 after acquiring an additional 1,910 shares during the period. Callan Family Office LLC grew its position in shares of CNO Financial Group by 193.2% during the 2nd quarter. Callan Family Office LLC now owns 14,894 shares of the financial services provider's stock valued at $575,000 after acquiring an additional 9,814 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of CNO Financial Group by 2.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,000 shares of the financial services provider's stock valued at $810,000 after acquiring an additional 500 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of CNO Financial Group during the 2nd quarter valued at $8,140,000. Finally, QRG Capital Management Inc. grew its position in shares of CNO Financial Group by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 89,708 shares of the financial services provider's stock valued at $3,461,000 after acquiring an additional 8,026 shares during the period. Institutional investors own 95.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNO. Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a research report on Wednesday, October 8th. Wall Street Zen cut shares of CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a "market perform" rating in a research note on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.60.

CNO Financial Group Stock Up 1.6%

CNO opened at $40.04 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17. CNO Financial Group, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $43.20. The firm's fifty day moving average is $39.05 and its 200 day moving average is $38.27. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 14.78 and a beta of 0.90.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings results on Friday, May 19th. The financial services provider reported $0.84 EPS for the quarter. The business had revenue of $968.30 million for the quarter. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. On average, sell-side analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

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

About CNO Financial Group

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.

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