Jacobs Levy Equity Management Inc. Has $24.35 Million Stock Position in CNO Financial Group, Inc. $CNO

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in CNO Financial Group by 4.7%, holding approximately $24.35 million in stock after selling 28,997 shares.
• CNO Financial Group recently announced a quarterly dividend of $0.17 per share, with a 1.7% yield and a payout ratio of 25.09%.
• The company reported earnings of $0.87 EPS for the last quarter, exceeding expectations, and achieved $1.15 billion in revenue.

Jacobs Levy Equity Management Inc. trimmed its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 584,572 shares of the financial services provider's stock after selling 28,997 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.59% of CNO Financial Group worth $24,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNO. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in CNO Financial Group by 15.0% during 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 in the last quarter. GAMMA Investing LLC grew its position in 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 valued at $119,000 after purchasing an additional 572 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in 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 valued at $353,000 after purchasing an additional 2,507 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in CNO Financial Group during the first quarter valued at approximately $806,000. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Price Performance

CNO remained flat at $39.23 on Thursday. 175,721 shares of the company were exchanged, compared to its average volume of 700,728. The business has a 50-day moving average price of $37.87 and a 200 day moving average price of $38.48. CNO Financial Group, Inc. has a 52-week low of $32.12 and a 52-week high of $43.20. The stock has a market cap of $3.80 billion, a P/E ratio of 14.47 and a beta of 0.90. 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 (NYSE:CNO - Get Free Report) last posted its earnings results 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $971.25 million. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, equities research analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend 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 presently 25.09%.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, insider Michael E. Mead sold 12,581 shares of the 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 sale, the insider owned 15,729 shares of the company's stock, valued at $597,230.13. This represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

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.