Capstone Investment Advisors LLC bought a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,063 shares of the financial services provider's stock, valued at approximately $1,380,000.
Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 649 shares during the last quarter. Bessemer Group Inc. boosted 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 worth $46,000 after purchasing an additional 487 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider's stock worth $46,000 after purchasing an additional 336 shares during the last quarter. Versant Capital Management Inc grew its position in CNO Financial Group by 72.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider's stock worth $58,000 after purchasing an additional 474 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider's stock worth $60,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 95.43% of the company's stock.
CNO Financial Group Stock Up 0.9%
CNO opened at $55.20 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. CNO Financial Group, Inc. has a 1-year low of $38.22 and a 1-year high of $57.59. The company has a market capitalization of $5.11 billion, a PE ratio of 18.97 and a beta of 0.81. The firm's 50 day simple moving average is $53.41 and its two-hundred day simple moving average is $47.34.
CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.29. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, equities analysts forecast that CNO Financial Group, Inc. will post 4.74 EPS for the current year.
CNO Financial Group Dividend Announcement
The business also recently declared 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 payout ratio is currently 24.74%.
Insider Activity
In other CNO Financial Group news, CEO Gary C. Bhojwani sold 86,048 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the completion of the sale, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the transaction, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. This trade represents a 6.77% 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. Insiders have sold 95,106 shares of company stock valued at $4,879,343 in the last three months. 3.44% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have recently weighed in on CNO shares. Capital One Financial set a $70.00 price target on CNO Financial Group in a report on Wednesday. Wall Street Zen raised CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Evercore set a $48.00 target price on CNO Financial Group and gave the company an "in-line" rating in a report on Monday, June 1st. Finally, Jefferies Financial Group cut CNO Financial Group from a "buy" rating to a "hold" rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.00.
Get Our Latest Stock Report on CNO Financial Group
About CNO Financial Group
(
Free Report)
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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