CNO Financial Group, Inc. $CNO Position Reduced by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in CNO Financial Group by 3.6%, owning 220,529 shares worth $9,185,000 after selling 8,310 shares in the first quarter.
• CNO Financial Group recently announced a quarterly dividend of $0.17 per share with a yield of 1.8%, which will be paid to shareholders on September 24th.
• The company reported $1.15 billion in revenue last quarter, exceeding analysts' expectations, and posted earnings per share of $0.87, which was above the consensus estimate of $0.85.

Brandywine Global Investment Management LLC decreased its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 220,529 shares of the financial services provider's stock after selling 8,310 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.22% of CNO Financial Group worth $9,185,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of CNO Financial Group by 236.9% during the 4th quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider's stock worth $34,323,000 after acquiring an additional 648,591 shares during the period. Nuveen LLC acquired a new stake in shares of CNO Financial Group during the 1st quarter worth $24,071,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CNO Financial Group in the 4th quarter valued at $15,093,000. Balyasny Asset Management L.P. purchased a new position in shares of CNO Financial Group in the fourth quarter valued at $14,270,000. Finally, Nomura Holdings Inc. acquired a new stake in CNO Financial Group during the 4th quarter valued at $5,906,000. 95.43% of the stock is currently owned by institutional investors and hedge funds.

CNO Financial Group Stock Up 2.6%

Shares of NYSE:CNO traded up $0.9910 during trading on Friday, hitting $39.6610. The company's stock had a trading volume of 182,239 shares, compared to its average volume of 706,675. CNO Financial Group, Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $43.20. The stock's 50-day moving average price is $37.36 and its two-hundred day moving average price is $38.61. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $3.84 billion, a PE ratio of 14.64 and a beta of 0.90.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $971.25 million. During the same quarter in the previous year, the firm earned $1.06 EPS. As a group, sell-side analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 10th. CNO Financial Group's dividend payout ratio is 25.09%.

Insider Buying and Selling

In other news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the transaction, the insider owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

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.