AQR Capital Management LLC Sells 315,953 Shares of CNO Financial Group, Inc. $CNO

Key Points

• AQR Capital Management reduced its stake in CNO Financial Group by 22%, leaving it with 1,118,700 shares valued at approximately $46.4 million.
• CNO Financial Group reported a quarterly earnings per share (EPS) of $0.87, surpassing analyst expectations, with revenues of $1.15 billion.
• The company announced a quarterly dividend of $0.17, set to be paid on September 24th, representing an annualized yield of 1.7% based on a payout ratio of 25.09%.

AQR Capital Management LLC decreased its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,700 shares of the financial services provider's stock after selling 315,953 shares during the period. AQR Capital Management LLC owned 1.13% of CNO Financial Group worth $46,381,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CNO. Blue Trust Inc. raised its stake in shares of CNO Financial Group by 10.4% during the 1st quarter. Blue Trust Inc. now owns 4,804 shares of the financial services provider's stock worth $200,000 after purchasing an additional 451 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of CNO Financial Group by 89.7% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 477 shares during the period. GAMMA Investing LLC lifted its stake in CNO Financial Group by 25.0% in the 1st quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider's stock valued at $119,000 after purchasing an additional 572 shares during the last quarter. State of Wyoming grew its holdings in CNO Financial Group by 6.1% during the first quarter. State of Wyoming now owns 10,602 shares of the financial services provider's stock worth $442,000 after purchasing an additional 611 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in CNO Financial Group by 13.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,483 shares of the financial services provider's stock worth $228,000 after buying an additional 633 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Stock Performance

NYSE:CNO traded down $0.30 on Friday, hitting $39.26. The company's stock had a trading volume of 749,509 shares, compared to its average volume of 615,952. CNO Financial Group, Inc. has a one year low of $32.87 and a one year high of $43.20. The firm has a market capitalization of $3.81 billion, a P/E ratio of 14.49 and a beta of 0.90. The stock has a fifty day moving average of $37.91 and a two-hundred day moving average of $38.47. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its 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 return on equity of 16.63% and a net margin of 6.41%.The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $971.25 million. During the same period in the previous year, the firm earned $1.06 EPS. Research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 10th. CNO Financial Group's dividend payout ratio (DPR) is currently 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 that occurred on 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 sale, the insider directly owned 15,729 shares in the company, valued at $597,230.13. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company's stock.

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.