CNO Financial Group, Inc. (NYSE:CNO) Stake Lifted by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. has increased its stake in CNO Financial Group by 65.6%, owning 54,692 shares valued at approximately $2.28 million as of its latest SEC filing.
• CNO Financial Group recently raised its quarterly dividend from $0.16 to $0.17 per share, reflecting an annualized dividend yield of 1.81%.
• The company's stock has a current market capitalization of $3.73 billion and reported earnings per share of $0.87 for the last quarter, beating analyst expectations.

Envestnet Asset Management Inc. raised its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 65.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,692 shares of the financial services provider's stock after acquiring an additional 21,664 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of CNO Financial Group worth $2,278,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNO. Wealth Enhancement Advisory Services LLC grew its position in CNO Financial Group by 5.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider's stock worth $571,000 after acquiring an additional 744 shares during the period. Allspring Global Investments Holdings LLC raised its stake in CNO Financial Group by 15.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 772,371 shares of the financial services provider's stock valued at $32,424,000 after buying an additional 100,735 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CNO Financial Group by 25.0% during the first quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider's stock worth $119,000 after purchasing an additional 572 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of CNO Financial Group by 42.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 8,471 shares of the financial services provider's stock worth $353,000 after purchasing an additional 2,507 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of CNO Financial Group during the first quarter worth about $806,000. Institutional investors and hedge funds own 95.43% of the company's stock.

CNO Financial Group Stock Performance

CNO traded down $1.28 during trading on Friday, reaching $35.56. The company's stock had a trading volume of 176,221 shares, compared to its average volume of 714,601. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.18 and a current ratio of 0.17. CNO Financial Group, Inc. has a 52-week low of $30.48 and a 52-week high of $43.20. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 13.13 and a beta of 0.87. The company's fifty day moving average price is $37.53 and its 200-day moving average price is $38.80.

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. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $971.25 million. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction 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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company's stock.

About CNO Financial Group

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.