CNO Financial Group, Inc. (NYSE:CNO) Stake Lowered by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in CNO Financial Group by 1.2%, selling 45,925 shares and now holding approximately 3.85% of the company valued at $160.7 million.
• Insider Michael E. Mead sold 12,581 shares at an average price of $37.97, resulting in a 44.44% decrease in his ownership of CNO Financial Group stock.
• CNO Financial Group reported earnings per share (EPS) of $0.87 for the recent quarter, exceeding analysts' expectations of $0.85 and marking a revenue of $1.15 billion.

LSV Asset Management lessened its stake in shares of CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,859,444 shares of the financial services provider's stock after selling 45,925 shares during the quarter. LSV Asset Management owned 3.85% of CNO Financial Group worth $160,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of CNO Financial Group by 236.9% during the fourth quarter. Bank of America Corp DE now owns 922,411 shares of the financial services provider's stock worth $34,323,000 after acquiring an additional 648,591 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CNO Financial Group during the fourth quarter worth about $15,093,000. Balyasny Asset Management L.P. purchased a new stake in shares of CNO Financial Group during the fourth quarter worth about $14,270,000. Norges Bank purchased a new stake in shares of CNO Financial Group during the fourth quarter worth about $13,975,000. Finally, JPMorgan Chase & Co. increased its position in shares of CNO Financial Group by 41.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,274,370 shares of the financial services provider's stock worth $47,419,000 after acquiring an additional 372,701 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Michael E. Mead sold 12,581 shares of the business's stock in a transaction dated 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 $597,230.13. The trade was a 44.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.38% of the stock is currently owned by corporate insiders.

CNO Financial Group Stock Down 3.7%

Shares of NYSE CNO traded down $1.38 during midday trading on Friday, reaching $35.46. 811,412 shares of the company's stock were exchanged, compared to its average volume of 834,359. CNO Financial Group, Inc. has a 52-week low of $30.48 and a 52-week high of $43.20. The stock has a market capitalization of $3.52 billion, a PE ratio of 13.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.18 and a current ratio of 0.17. The business's fifty day moving average price is $37.50 and its two-hundred day moving average price is $38.79.

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 the consensus estimate of $0.85 by $0.02. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $971.25 million. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%. During the same period in the previous year, the company earned $1.06 earnings per share. Analysts forecast that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

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.