Bank of New York Mellon Corp Buys Shares of 873,457 CNO Financial Group, Inc. $CNO

Bank of New York Mellon Corp bought a new position in CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 873,457 shares of the financial services provider's stock, valued at approximately $44,529,000. Bank of New York Mellon Corp owned approximately 0.94% of CNO Financial Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its position in CNO Financial Group by 29.5% during the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider's stock valued at $7,332,000 after acquiring an additional 40,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CNO Financial Group by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider's stock worth $2,531,000 after acquiring an additional 797 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CNO Financial Group by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider's stock valued at $15,692,000 after acquiring an additional 20,728 shares in the last quarter. Jane Street Group LLC raised its holdings in CNO Financial Group by 146.4% in the first quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider's stock worth $6,212,000 after purchasing an additional 88,619 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider's stock worth $60,000 after acquiring an additional 1,243 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CNO Financial Group

In other news, CMO Rocco F. Tarasi III sold 5,750 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company's stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares of the company's stock, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,106 shares of company stock worth $4,879,343 over the last ninety days. 3.44% of the stock is currently owned by corporate insiders.

CNO Financial Group Trading Up 0.9%

CNO Financial Group stock opened at $55.20 on Friday. CNO Financial Group, Inc. has a 12 month low of $38.22 and a 12 month high of $57.59. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. The stock's 50 day simple moving average is $53.41 and its two-hundred day simple moving average is $47.34. The firm has a market cap of $5.11 billion, a PE ratio of 18.97 and a beta of 0.81.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.29. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $999.45 million. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. Analysts anticipate that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group's dividend payout ratio (DPR) is presently 24.74%.

Analyst Ratings Changes

CNO has been the subject of several analyst reports. Weiss Ratings upgraded CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the company an "in-line" rating in a research note on Monday, June 1st. Wall Street Zen upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Capital One Financial set a $70.00 target price on CNO Financial Group in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, CNO Financial Group presently has an average rating of "Hold" and an average target price of $56.00.

CNO Financial Group Company Profile

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source