Kestrel Investment Management Corp Sells 7,600 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Kestrel Investment Management Corp reduced its stake in CNO Financial Group by selling 7,600 shares, bringing its total ownership to 159,650 shares, which represents about 3.7% of its investment portfolio.
• Several large investors have recently increased their holdings in CNO Financial Group, including Allianz Asset Management with a 70.9% increase and Allspring Global Investments with a 72.7% increase during the second quarter.
• CNO Financial Group's current dividend yield stands at 1.7% with an annualized dividend of $0.68, reflecting a payout ratio of 25.09% as of the last payment made on September 24th.

Kestrel Investment Management Corp trimmed its position in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 4.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,650 shares of the financial services provider's stock after selling 7,600 shares during the period. CNO Financial Group makes up approximately 3.7% of Kestrel Investment Management Corp's investment portfolio, making the stock its 6th largest position. Kestrel Investment Management Corp owned about 0.16% of CNO Financial Group worth $6,160,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted 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 worth $122,369,000 after acquiring an additional 250,173 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of CNO Financial Group by 70.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider's stock worth $59,673,000 after purchasing an additional 641,950 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of CNO Financial Group by 72.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,333,698 shares of the financial services provider's stock worth $51,641,000 after purchasing an additional 561,327 shares during the period. Invesco Ltd. lifted its position in shares of CNO Financial Group by 10.2% in the 1st quarter. Invesco Ltd. now owns 990,776 shares of the financial services provider's stock worth $41,266,000 after purchasing an additional 91,550 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of CNO Financial Group by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 743,088 shares of the financial services provider's stock worth $30,950,000 after purchasing an additional 11,983 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNO. Weiss Ratings restated a "buy (b)" rating on shares of CNO Financial Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a "market perform" rating in a research note on Thursday, October 9th. Finally, Wall Street Zen lowered shares of CNO Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, CNO Financial Group has an average rating of "Moderate Buy" and a consensus target price of $43.60.

CNO Financial Group Price Performance

CNO opened at $40.02 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 14.77 and a beta of 0.90. The firm's fifty day moving average price is $39.35 and its two-hundred day moving average price is $38.25. CNO Financial Group, Inc. has a 1 year low of $34.10 and a 1 year high of $43.20.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Friday, May 19th. The financial services provider reported $0.84 earnings per share for the quarter. The company had revenue of $968.30 million for the quarter. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. As a group, analysts anticipate that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were given a dividend of $0.17 per share. The ex-dividend date was 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 currently 25.09%.

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.

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