Harbor Capital Advisors Inc. Has $29,000 Position in CNO Financial Group, Inc. $CNO

Key Points

• Harbor Capital Advisors Inc. significantly cut its holdings in CNO Financial Group by 98.1% during Q2, selling 40,066 shares and retaining only 758 shares worth $29,000 at the end of the reporting period.
• Despite the sell-off, several hedge funds increased their stakes in CNO Financial Group, with American Century Companies Inc. growing its position by 9.3% to over $122 million.
• CNO Financial Group announced a quarterly dividend of $0.17, representing an annualized yield of 1.7%, set to be paid on September 24 to shareholders of record on September 10.

Harbor Capital Advisors Inc. cut its holdings in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 98.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 758 shares of the financial services provider's stock after selling 40,066 shares during the period. Harbor Capital Advisors Inc.'s holdings in CNO Financial Group were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of CNO Financial Group by 9.3% in the first quarter. American Century Companies Inc. now owns 2,938,034 shares of the financial services provider's stock valued at $122,369,000 after purchasing an additional 250,173 shares during the last quarter. Invesco Ltd. raised its holdings in shares of CNO Financial Group by 10.2% in the first quarter. Invesco Ltd. now owns 990,776 shares of the financial services provider's stock valued at $41,266,000 after purchasing an additional 91,550 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of CNO Financial Group by 6.6% in the first quarter. Allianz Asset Management GmbH now owns 904,795 shares of the financial services provider's stock valued at $37,685,000 after purchasing an additional 56,388 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 100,735 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of CNO Financial Group by 1.6% in the first quarter. Victory Capital Management Inc. now owns 743,088 shares of the financial services provider's stock valued at $30,950,000 after purchasing an additional 11,983 shares during the last quarter. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, the insider directly owned 15,729 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.38% of the company's stock.

CNO Financial Group Stock Up 0.2%

Shares of NYSE CNO traded up $0.07 during midday trading on Tuesday, reaching $39.87. The company's stock had a trading volume of 151,486 shares, compared to its average volume of 723,319. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.50. CNO Financial Group, Inc. has a fifty-two week low of $33.85 and a fifty-two week high of $43.20. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 14.72 and a beta of 0.90. The stock has a 50 day simple moving average of $38.19 and a 200-day simple moving average of $38.38.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.87 earnings per share (EPS) 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 the consensus estimate of $971.25 million. During the same period last year, the company earned $1.06 earnings per share. Equities research analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share 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. Investors of record on Wednesday, September 10th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 10th. CNO Financial Group's payout ratio is presently 25.09%.

CNO Financial Group Company 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.