Clark Capital Management Group Inc. Buys Shares of 119,457 CNO Financial Group, Inc. $CNO

Key Points

• Clark Capital Management Group Inc. invested nearly $5 million in CNO Financial Group, acquiring 119,457 shares, representing approximately 0.12% of the company as of the end of the most recent quarter.
• CNO Financial Group reported a quarterly earnings per share of $0.87, surpassing analysts' expectations of $0.85, with total revenue at $1.15 billion for the same period.
• The company announced a quarterly dividend of $0.17 per share, indicating a 1.7% dividend yield, with a payout ratio of 25.09%.

Clark Capital Management Group Inc. acquired a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 119,457 shares of the financial services provider's stock, valued at approximately $4,975,000. Clark Capital Management Group Inc. owned 0.12% of CNO Financial Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE increased its position in 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 valued at $34,323,000 after buying an additional 648,591 shares in the last quarter. Nuveen LLC acquired a new stake in shares of CNO Financial Group in the 1st quarter worth $24,071,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of CNO Financial Group during the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. acquired a new stake in CNO Financial Group in the 4th quarter worth about $14,270,000. Finally, American Century Companies Inc. raised its position in CNO Financial Group by 9.3% in the first quarter. American Century Companies Inc. now owns 2,938,034 shares of the financial services provider's stock valued at $122,369,000 after purchasing an additional 250,173 shares during the period. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Stock Performance

NYSE CNO traded up $0.15 during trading hours on Wednesday, hitting $39.34. The company had a trading volume of 96,021 shares, compared to its average volume of 700,871. 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 cap of $3.81 billion, a PE ratio of 14.50 and a beta of 0.90. CNO Financial Group, Inc. has a 1-year low of $31.40 and a 1-year high of $43.20. The business has a 50 day moving average of $37.84 and a 200-day moving average of $38.48.

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

CNO Financial Group Announces Dividend

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

Insider Activity

In other CNO Financial Group news, insider Michael E. Mead sold 12,581 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the sale, the insider owned 15,729 shares in the company, valued at approximately $597,230.13. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is owned by company insiders.

About CNO Financial Group

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.