Invst LLC Takes $677,000 Position in CNO Financial Group, Inc. $CNO

Key Points

• Invst LLC has acquired a new position in CNO Financial Group, purchasing 16,256 shares valued at approximately $677,000 during the 1st quarter.
• Multiple hedge funds, including UMB Bank and Blue Trust, have also increased their stakes in CNO Financial Group, indicating strong institutional interest with 95.43% of the stock owned by institutional investors.
• CNO Financial Group reported earnings of $0.87 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.17, reflecting a yield of 1.7%.

Invst LLC bought a new position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,256 shares of the financial services provider's stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNO. Wealth Enhancement Advisory Services LLC lifted its stake in CNO Financial Group by 5.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,701 shares of the financial services provider's stock worth $571,000 after purchasing an additional 744 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CNO Financial Group by 15.0% during the 1st 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 during the period. GAMMA Investing LLC lifted its holdings in CNO Financial Group by 25.0% in the first quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider's stock valued at $119,000 after acquiring an additional 572 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in CNO Financial Group by 42.0% in 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 acquiring an additional 2,507 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in CNO Financial Group during the first quarter worth $806,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Trading Up 1.7%

Shares of CNO traded up $0.65 during trading on Thursday, reaching $39.68. 239,483 shares of the company traded hands, compared to its average volume of 703,042. The stock has a 50-day simple moving average of $38.02 and a 200-day simple moving average of $38.42. The stock has a market cap of $3.85 billion, a PE ratio of 14.64 and a beta of 0.90. CNO Financial Group, Inc. has a twelve month low of $33.85 and a twelve month high of $43.20. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $971.25 million. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current year.

CNO Financial Group Announces Dividend

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

Insiders Place Their Bets

In other news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction dated 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 $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 available through 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.