Deutsche Bank AG Makes New Investment in CNO Financial Group, Inc. $CNO

Key Points

• Deutsche Bank purchased 128,390 shares of CNO Financial Group in the second quarter, valued at approximately $6.5 million. Institutional investors now own 95.43% of the company.
• CNO reported quarterly earnings of $1.26 per share, beating estimates of $0.97, while revenue rose 11.6% year over year to $1.29 billion. The company also announced a quarterly dividend of $0.18 per share, yielding about 1.3% annually.
• CNO shares opened at $54.24, near the upper end of their 12-month range. Analysts remain generally neutral, with an average “Hold” rating and a $52.50 price target, while insiders sold more than $4.8 million in stock over the past 90 days.

Deutsche Bank AG purchased a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 128,390 shares of the financial services provider's stock, valued at approximately $6,545,000. Deutsche Bank AG owned about 0.14% of CNO Financial Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in CNO Financial Group by 0.3% during the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider's stock worth $101,456,000 after buying an additional 8,053 shares in the last quarter. Morgan Stanley boosted its holdings in CNO Financial Group by 20.5% during the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider's stock worth $79,461,000 after acquiring an additional 317,690 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CNO Financial Group by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider's stock worth $61,282,000 after acquiring an additional 114,000 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of CNO Financial Group by 35.6% in the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider's stock worth $51,730,000 after acquiring an additional 319,795 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of CNO Financial Group by 6.2% in the first quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider's stock valued at $40,570,000 after purchasing an additional 57,804 shares during the last quarter. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Stock Performance

NYSE CNO opened at $54.24 on Tuesday. The company's 50 day moving average is $53.19 and its 200-day moving average is $47.09. CNO Financial Group, Inc. has a 12-month low of $38.22 and a 12-month high of $57.59. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65. The firm has a market cap of $5.02 billion, a P/E ratio of 18.64 and a beta of 0.81.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $0.97 by $0.29. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. During the same period last year, the firm earned $0.87 EPS. CNO Financial Group's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. CNO Financial Group's dividend payout ratio is currently 24.74%.

Insiders Place Their Bets

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at approximately $3,959,550. The trade was a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,106 shares of company stock valued at $4,879,343 over the last ninety days. Corporate insiders own 3.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group downgraded shares of CNO Financial Group from a "buy" rating to a "hold" rating and upped their price objective for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an "in-line" rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, CNO Financial Group has an average rating of "Hold" and an average target price of $52.50.

CNO Financial Group Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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