Callan Family Office LLC Buys Shares of 21,353 CNO Financial Group, Inc. $CNO

Key Points

• Callan Family Office acquired 21,353 shares of CNO Financial Group worth approximately $1.09 million, while institutional investors collectively own 95.43% of the company.
• CNO reported strong quarterly results, with earnings per share of $1.26 beating estimates by $0.29 and revenue rising 11.6% year over year to $1.29 billion.
• The company declared a quarterly dividend of $0.18, equivalent to an annualized $0.72 payout and a 1.3% yield; analysts maintain a consensus “Hold” rating with a $52.50 target price.

Callan Family Office LLC bought a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,353 shares of the financial services provider's stock, valued at approximately $1,089,000.

A number of other hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider's stock worth $45,000 after buying an additional 649 shares during the last quarter. Bessemer Group Inc. raised its holdings in CNO Financial Group by 75.4% in the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 487 shares in the last quarter. Osaic Holdings Inc. boosted its stake in CNO Financial Group by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 336 shares during the last quarter. Versant Capital Management Inc boosted its stake in CNO Financial Group by 72.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 474 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in CNO Financial Group by 637.4% during the 1st 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. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Stock Performance

Shares of CNO opened at $54.24 on Tuesday. The stock has a market capitalization of $5.02 billion, a PE ratio of 18.64 and a beta of 0.81. The business's fifty day moving average price is $53.19 and its 200 day moving average price is $47.09. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group, Inc. has a 12-month low of $38.22 and a 12-month high of $57.59.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.29. The firm had revenue of $1.29 billion during 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 firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Equities research analysts forecast that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. CNO Financial Group's payout ratio is 24.74%.

Analyst Ratings Changes

CNO has been the subject of several research analyst reports. Weiss Ratings raised shares of CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of CNO Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Jefferies Financial Group downgraded CNO Financial Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $53.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Finally, Evercore set a $48.00 price objective on CNO Financial Group and gave the company an "in-line" rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $52.50.

Insider Transactions at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares of the company's stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the sale, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. This trade represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 95,106 shares of company stock valued at $4,879,343. Insiders own 3.44% of the company's stock.

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.

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