Hotchkis & Wiley Capital Management LLC Sells 327,712 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in CNO Financial Group by 33.6%, now owning 647,949 shares valued at approximately $27 million.
• CNO Financial Group's stock price increased by 2.4%, with a current trading value of $39.6170, reflecting a market capitalization of $3.84 billion.
• The company announced a quarterly dividend of $0.17 per share, which will be paid to shareholders on September 24th, representing an annualized yield of 1.7%.

Hotchkis & Wiley Capital Management LLC reduced its position in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,949 shares of the financial services provider's stock after selling 327,712 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.65% of CNO Financial Group worth $26,987,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNO. American Century Companies Inc. increased its stake in 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 period. Invesco Ltd. raised its holdings in CNO Financial Group by 10.2% in the 1st quarter. Invesco Ltd. now owns 990,776 shares of the financial services provider's stock valued at $41,266,000 after acquiring an additional 91,550 shares during the last quarter. Bank of America Corp DE grew its holdings 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 purchasing an additional 648,591 shares during the period. Allianz Asset Management GmbH increased its position in CNO Financial Group by 6.6% during the 1st quarter. Allianz Asset Management GmbH now owns 904,795 shares of the financial services provider's stock worth $37,685,000 after purchasing an additional 56,388 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 100,735 shares during the period. Institutional investors and hedge funds own 95.43% of the company's stock.

Insider Buying and Selling at CNO Financial Group

In other news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the sale, the insider directly owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.38% of the company's stock.

CNO Financial Group Stock Up 0.6%

NYSE CNO traded up $0.23 during mid-day trading on Tuesday, reaching $39.23. 880,880 shares of the company's stock traded hands, compared to its average volume of 727,982. 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 1-year low of $31.40 and a 1-year high of $43.20. The company has a fifty day simple moving average of $37.50 and a 200-day simple moving average of $38.58. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 14.47 and a beta of 0.90.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%.The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $971.25 million. During the same period in the prior year, the firm earned $1.06 EPS. As a group, equities research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. CNO Financial Group's dividend payout ratio is 25.09%.

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.