Corebridge Financial Inc. Sells 6,873 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Corebridge Financial Inc. reduced its stake in CNO Financial Group by 4.1%, selling 6,873 shares and now holding 161,558 shares worth approximately $6.73 million.
• CNO Financial Group reported a quarterly EPS of $0.87, exceeding expectations, with revenues totaling $1.15 billion against projected $971.25 million.
• The company announced a quarterly dividend of $0.17 per share, representing an annualized dividend yield of 1.7%, with the ex-dividend date set for September 10th.

Corebridge Financial Inc. reduced its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,558 shares of the financial services provider's stock after selling 6,873 shares during the period. Corebridge Financial Inc. owned 0.16% of CNO Financial Group worth $6,729,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Freedom Investment Management Inc. bought a new position in shares of CNO Financial Group during the first quarter valued at about $263,000. Walleye Capital LLC bought a new position in shares of CNO Financial Group during the first quarter valued at about $225,000. Bragg Financial Advisors Inc lifted its position in shares of CNO Financial Group by 1.2% during the first quarter. Bragg Financial Advisors Inc now owns 561,146 shares of the financial services provider's stock valued at $23,372,000 after purchasing an additional 6,512 shares in the last quarter. Candriam S.C.A. bought a new position in shares of CNO Financial Group during the first quarter valued at about $4,563,000. Finally, Capital Fund Management S.A. bought a new position in shares of CNO Financial Group during the first quarter valued at about $632,000. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Stock Up 1.5%

Shares of CNO traded up $0.59 during trading hours on Thursday, reaching $40.38. 700,835 shares of the stock traded hands, compared to its average volume of 577,610. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $37.78 and a 200 day simple moving average of $38.52. CNO Financial Group, Inc. has a 52 week low of $31.40 and a 52 week high of $43.20. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 14.90 and a beta of 0.90.

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 analysts' consensus estimates 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 analyst estimates of $971.25 million. During the same period last year, the firm earned $1.06 earnings per share. On average, equities analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.68 annualized dividend and a yield of 1.7%. CNO Financial Group's payout ratio is currently 25.09%.

Insider Buying and Selling

In other CNO Financial Group 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 approximately $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 SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

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.