Northern Trust Corp Lowers Position in CNO Financial Group, Inc. $CNO

Key Points

• Northern Trust Corp has reduced its stake in CNO Financial Group by 3.5%, now owning approximately 1.83% of the company, worth about $75.7 million.
• CNO Financial Group recently announced a quarterly dividend of $0.17 per share, resulting in a 1.7% dividend yield, which is part of a $0.68 annualized dividend.
• The company's shares have increased 2.4% with a current market price opening at $39.62, while reporting earnings of $0.87 per share, surpassing analysts' expectations.

Northern Trust Corp reduced its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,817,488 shares of the financial services provider's stock after selling 66,234 shares during the period. Northern Trust Corp owned approximately 1.83% of CNO Financial Group worth $75,698,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in CNO Financial Group during the 1st quarter worth $28,000. UMB Bank n.a. grew its position in CNO Financial Group by 89.7% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $42,000 after purchasing an additional 477 shares during the last quarter. Versant Capital Management Inc grew its position in CNO Financial Group by 148.6% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider's stock worth $46,000 after purchasing an additional 657 shares during the last quarter. Quarry LP grew its position in CNO Financial Group by 137.8% during the 4th quarter. Quarry LP now owns 1,334 shares of the financial services provider's stock worth $50,000 after purchasing an additional 773 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in CNO Financial Group during the 1st quarter worth $92,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Stock Performance

CNO Financial Group stock traded up $0.07 during midday trading on Friday, hitting $39.49. 733,875 shares of the company's stock were exchanged, compared to its average volume of 624,192. CNO Financial Group, Inc. has a 12-month low of $31.40 and a 12-month high of $43.20. 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 stock has a market cap of $3.83 billion, a price-to-earnings ratio of 14.57 and a beta of 0.90. The firm's 50 day simple moving average is $37.64 and its 200 day simple moving average is $38.55.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $971.25 million. During the same period last year, the firm posted $1.06 EPS. Equities research analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. CNO Financial Group's payout ratio is presently 25.09%.

Insider Buying and Selling at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of CNO Financial Group 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 sale, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

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.