Pacer Advisors Inc. Sells 18,507 Shares of CNO Financial Group, Inc. (NYSE:CNO)

Key Points

• Pacer Advisors Inc. reduced its stake in CNO Financial Group by 75.3%, now holding 6,073 shares valued at approximately $253,000.
• In contrast, Bank of America Corp DE significantly increased its position in CNO Financial Group by 236.9%, adding 648,591 shares to its holdings.
• CNO Financial Group reported earnings of $0.87 EPS for the last quarter, surpassing expectations and confirming a strong revenue of $1.15 billion.

Pacer Advisors Inc. decreased its holdings in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 75.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,073 shares of the financial services provider's stock after selling 18,507 shares during the period. Pacer Advisors Inc.'s holdings in CNO Financial Group were worth $253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNO. Bank of America Corp DE raised its stake in CNO Financial Group by 236.9% in the fourth 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CNO Financial Group in the 4th quarter valued at about $15,093,000. Balyasny Asset Management L.P. bought a new position in CNO Financial Group in the 4th quarter valued at about $14,270,000. Norges Bank bought a new position in CNO Financial Group in the 4th quarter valued at about $13,975,000. Finally, JPMorgan Chase & Co. raised its holdings in CNO Financial Group by 41.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider's stock valued at $47,419,000 after acquiring an additional 372,701 shares during the period. Institutional investors own 95.43% of the company's stock.

Insiders Place Their Bets

In other 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 transaction, the insider directly owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.38% of the stock is currently owned by corporate insiders.

CNO Financial Group Stock Performance

CNO Financial Group stock traded down $1.38 during trading hours on Friday, hitting $35.46. The company had a trading volume of 811,412 shares, compared to its average volume of 834,359. The firm has a market cap of $3.52 billion, a PE ratio of 13.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.18. CNO Financial Group, Inc. has a one year low of $30.48 and a one year high of $43.20. The firm has a 50-day moving average of $37.50 and a 200 day moving average of $38.79.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations 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 prior year, the firm earned $1.06 EPS. On average, sell-side analysts expect that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

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.