Brandywine Global Investment Management LLC Cuts Position in CNO Financial Group, Inc. (NYSE:CNO)

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

Other large investors have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in shares of CNO Financial Group during the 1st quarter worth about $28,000. UMB Bank n.a. raised its holdings in CNO Financial Group by 89.7% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $42,000 after buying an additional 477 shares during the period. Versant Capital Management Inc raised its holdings in CNO Financial Group by 148.6% in the first quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider's stock valued at $46,000 after buying an additional 657 shares during the period. Quarry LP raised its holdings in CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider's stock valued at $50,000 after buying an additional 773 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of CNO Financial Group during the first quarter valued at approximately $92,000. 95.43% of the stock is owned by institutional investors and hedge funds.

CNO Financial Group Trading Down 1.3%

CNO opened at $37.60 on Friday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 13.87 and a beta of 0.90. The firm's 50 day moving average is $37.32 and its 200-day moving average is $38.64. CNO Financial Group, Inc. has a 52-week low of $31.40 and a 52-week high of $43.20. The company has a quick ratio of 0.17, a current 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 results on Monday, July 28th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $971.25 million. During the same quarter last year, the company earned $1.06 earnings per share. Analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.68 annualized dividend and a yield of 1.8%. CNO Financial Group's payout ratio is presently 25.09%.

Insiders Place Their Bets

In other news, insider Michael E. Mead sold 12,581 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $37.97, for a total transaction of $477,700.57. Following the completion of the transaction, the insider owned 15,729 shares in the company, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

CNO Financial Group 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.

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