Jupiter Topco LLC Purchases New Shares in CNO Financial Group, Inc. $CNO

Key Points

• Jupiter Topco purchased 39,058 CNO Financial Group shares worth approximately $1.99 million during the second quarter. Institutional investors collectively own 95.43% of the company, including a new BlackRock stake valued at about $682.4 million.
• CNO reported strong quarterly results, with EPS of $1.26 beating estimates of $0.97 and revenue rising 11.6% year over year to $1.29 billion. The company also declared a quarterly dividend of $0.18 per share, representing a 1.3% yield and a payout ratio of about 24.7%.
• Analyst sentiment remains mixed, with two Buy ratings and three Holds and a consensus price target near $56. Recent insider selling occurred under pre-arranged Rule 10b5-1 plans, while the stock traded near its 52-week high at $56.71.

Jupiter Topco LLC purchased a new position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,058 shares of the financial services provider's stock, valued at approximately $1,992,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in shares of CNO Financial Group in the first quarter worth about $1,125,000. Callan Family Office LLC acquired a new stake in CNO Financial Group during the 2nd quarter valued at approximately $1,089,000. BlackRock Inc. purchased a new stake in CNO Financial Group during the 2nd quarter worth approximately $682,433,000. Hsbc Holdings PLC increased its holdings in CNO Financial Group by 102.1% during the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider's stock worth $1,914,000 after purchasing an additional 22,749 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of CNO Financial Group during the 2nd quarter valued at approximately $6,545,000. Institutional investors and hedge funds own 95.43% of the company's stock.

Key Headlines Impacting CNO Financial Group

Here are the key news stories impacting CNO Financial Group this week:

• Positive Sentiment: CNO’s investor briefing highlighted growth strategies and operating momentum in its worksite and Medicare businesses, offering investors greater visibility into potential expansion and future earnings. CNO Financial Highlights Growth in Worksite and Medicare Operations
• Positive Sentiment: The company recently reported quarterly earnings of $1.26 per share, well above the $0.97 analyst consensus, while revenue of $1.29 billion exceeded expectations and increased 11.6% year over year. Analysts expect approximately $4.74 in full-year EPS, supporting the stock’s valuation and recent strength.
• Positive Sentiment: CNO declared a quarterly dividend of $0.18 per share, equivalent to $0.72 annually and a yield of about 1.3%. The dividend’s payout ratio of roughly 24.7% suggests room to maintain the distribution if earnings remain solid. CNO Financial Group stock information
• Neutral Sentiment: Analyst sentiment remains mixed: CNO has two Buy ratings and three Hold ratings, with a consensus price target near $56. Several firms have recently raised their targets, including Capital One Financial at $70, but the average target implies limited upside from recent trading levels.
• Negative Sentiment: Insiders Karen J. Detoro and Jeanne L. Linnenbringer sold a combined approximately 39,213 shares worth about $2.15 million between August 31 and September 2. The transactions reduced their holdings and could create a modest overhang, although all sales were made under pre-arranged Rule 10b5-1 plans, making them less indicative of a new negative view on the business. Karen J. Detoro SEC Form 4 Jeanne L. Linnenbringer SEC Form 4

CNO Financial Group Trading Up 2.5%

Shares of CNO opened at $56.71 on Friday. The business's 50-day moving average price is $53.76 and its 200 day moving average price is $47.77. The stock has a market capitalization of $5.25 billion, a P/E ratio of 19.49 and a beta of 0.80. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. CNO Financial Group, Inc. has a 1-year low of $38.22 and a 1-year high of $57.59.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $0.97 by $0.29. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $999.45 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. CNO Financial Group's dividend payout ratio is currently 24.74%.

Insider Activity at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the transaction, the chief executive officer directly owned 174,264 shares in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanne L. Linnenbringer sold 6,560 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $54.99, for a total transaction of $360,734.40. Following the completion of the transaction, the insider directly owned 34,188 shares in the company, valued at $1,879,998.12. This trade represents a 16.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 134,319 shares of company stock valued at $7,033,335. Company insiders own 3.44% of the company's stock.

Wall Street Analysts Forecast Growth

CNO has been the subject of several recent analyst reports. Wall Street Zen raised shares of CNO Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods boosted their price objective on CNO Financial Group from $53.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Jefferies Financial Group cut shares of CNO Financial Group from a "buy" rating to a "hold" rating and upped their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Weiss Ratings raised CNO Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Finally, Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the company an "in-line" rating in a report on Monday, June 1st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $56.00.

CNO Financial Group Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source