CNO Financial Group, Inc. $CNO Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its stake in CNO Financial Group by 5.0% during the second quarter, now owning 149,434 shares valued at approximately $5.76 million.
• CNO Financial Group reported an earnings per share (EPS) of $0.87 for the last quarter, exceeding analysts' expectations of $0.85, with revenues reaching $1.15 billion.
• The company announced a quarterly dividend of $0.17 per share, representing an annualized dividend yield of 1.7% and a payout ratio of 25.09%.

Congress Asset Management Co. cut its stake in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,434 shares of the financial services provider's stock after selling 7,895 shares during the period. Congress Asset Management Co. owned approximately 0.15% of CNO Financial Group worth $5,765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new position in CNO Financial Group during the 2nd quarter valued at $741,000. GAMMA Investing LLC boosted its stake in CNO Financial Group by 31.1% during the second quarter. GAMMA Investing LLC now owns 3,752 shares of the financial services provider's stock valued at $145,000 after buying an additional 891 shares in the last quarter. First Financial Bank Trust Division grew its holdings in CNO Financial Group by 35.3% during the second quarter. First Financial Bank Trust Division now owns 16,763 shares of the financial services provider's stock worth $647,000 after acquiring an additional 4,378 shares during the period. Inspire Investing LLC bought a new stake in CNO Financial Group in the first quarter worth about $783,000. Finally, Invst LLC acquired a new stake in CNO Financial Group in the 1st quarter valued at about $677,000. Institutional investors own 95.43% of the company's stock.

Insider Activity

In other news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $37.97, for a total transaction of $477,700.57. Following the sale, the insider directly owned 15,729 shares of the company's stock, valued at $597,230.13. The trade was a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by insiders.

CNO Financial Group Stock Performance

NYSE:CNO opened at $40.05 on Friday. The company has a 50-day moving average of $38.40 and a 200-day moving average of $38.41. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 14.78 and a beta of 0.90. 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, Inc. has a twelve month low of $33.85 and a twelve month high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $1.06 EPS. Analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. CNO Financial Group's dividend payout ratio (DPR) is currently 25.09%.

CNO Financial Group 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.

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