CNO Financial Group, Inc. $CNO Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global trimmed its stake in CNO by 3.4% in Q2, selling 7,600 shares and leaving it with 212,929 shares valued at about $8.22 million; overall institutional ownership of CNO is very high (95.43%).
• Insider sale: CIO Eric R. Johnson sold 48,665 shares at an average of $41.24 for roughly $2.01 million, a 6.76% reduction that leaves him with 671,542 shares (insiders own ~3% of the company).
• CNO has a Wall Street consensus of "Moderate Buy" with a $43.60 target (three Buy, three Hold), and the company announced a $0.17 quarterly dividend ($0.68 annual, 1.7% yield); the stock trades near $40.51 with a market cap of ~$3.86 billion and a P/E of ~14.95.

Brandywine Global Investment Management LLC reduced its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,929 shares of the financial services provider's stock after selling 7,600 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.22% of CNO Financial Group worth $8,215,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CNO. Natixis Advisors LLC acquired a new position in CNO Financial Group during the 1st quarter worth approximately $493,000. Envestnet Asset Management Inc. raised its stake in shares of CNO Financial Group by 65.6% during the first quarter. Envestnet Asset Management Inc. now owns 54,692 shares of the financial services provider's stock valued at $2,278,000 after purchasing an additional 21,664 shares during the period. Clark Capital Management Group Inc. acquired a new position in shares of CNO Financial Group during the first quarter worth $4,975,000. Allianz Asset Management GmbH boosted its stake in shares of CNO Financial Group by 70.9% in the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider's stock valued at $59,673,000 after purchasing an additional 641,950 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in CNO Financial Group during the 1st quarter valued at $722,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CNO shares. Wall Street Zen upgraded shares of CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Weiss Ratings reissued a "buy (b)" rating on shares of CNO Financial Group in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on CNO Financial Group from $44.00 to $45.00 and gave the stock a "market perform" rating in a report on Thursday, October 9th. Three research 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, CNO Financial Group has a consensus rating of "Moderate Buy" and a consensus target price of $43.60.

Insider Activity

In other news, CIO Eric R. Johnson sold 48,665 shares of CNO Financial Group stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $41.24, for a total value of $2,006,944.60. Following the completion of the transaction, the executive directly owned 671,542 shares of the company's stock, valued at approximately $27,694,392.08. The trade was a 6.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

CNO Financial Group Trading Up 1.8%

Shares of NYSE CNO opened at $40.51 on Friday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 14.95 and a beta of 0.94. The stock's 50 day moving average price is $39.87 and its two-hundred day moving average price is $38.60. 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, Inc. has a 52-week low of $34.63 and a 52-week high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Friday, May 19th. The financial services provider reported $0.84 earnings per share for the quarter. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%.The business had revenue of $968.30 million during the quarter. On average, analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 10th will be issued 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 of this dividend is Wednesday, December 10th. CNO Financial Group's dividend payout ratio is 23.78%.

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.

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