Mackenzie Financial Corp Has $889,000 Position in CNO Financial Group, Inc. (NYSE:CNO)

Key Points

• Mackenzie Financial Corp reduced its holdings in CNO Financial Group by 26.9%, ending the first quarter with 21,339 shares valued at $889,000.
• In the same quarter, institutional investors and hedge funds collectively own 95.43% of CNO Financial Group's stock, indicating significant institutional interest.
• CNO Financial Group reported earnings of $0.87 per share for the last quarter, exceeding analysts' expectations of $0.85, alongside a revenue of $1.15 billion.

Mackenzie Financial Corp trimmed its holdings in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,339 shares of the financial services provider's stock after selling 7,834 shares during the period. Mackenzie Financial Corp's holdings in CNO Financial Group were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNO. LPL Financial LLC grew its stake in CNO Financial Group by 5.1% in the fourth quarter. LPL Financial LLC now owns 18,679 shares of the financial services provider's stock valued at $695,000 after acquiring an additional 907 shares during the period. Norges Bank acquired a new position in shares of CNO Financial Group in the fourth quarter valued at approximately $13,975,000. Pictet Asset Management Holding SA boosted its holdings in shares of CNO Financial Group by 25.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,221 shares of the financial services provider's stock valued at $604,000 after buying an additional 3,276 shares during the period. Headlands Technologies LLC boosted its holdings in shares of CNO Financial Group by 193.2% in the fourth quarter. Headlands Technologies LLC now owns 1,337 shares of the financial services provider's stock valued at $50,000 after buying an additional 881 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in shares of CNO Financial Group in the fourth quarter valued at approximately $2,284,000. 95.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael E. Mead sold 12,581 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $37.97, for a total transaction of $477,700.57. Following the completion of the transaction, the insider owned 15,729 shares in the company, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

CNO Financial Group Stock Up 1.6%

Shares of CNO Financial Group stock traded up $0.56 on Friday, hitting $36.50. The company had a trading volume of 595,171 shares, compared to its average volume of 809,213. The firm has a market capitalization of $3.54 billion, a P/E ratio of 13.47 and a beta of 0.90. CNO Financial Group, Inc. has a twelve month low of $31.18 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.18. The stock has a 50-day moving average of $37.35 and a 200-day moving average of $38.70.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $971.25 million. CNO Financial Group had a net margin of 6.41% and a return on equity of 16.63%. During the same quarter in the prior year, the company earned $1.06 earnings per share. Research analysts predict that CNO Financial Group, Inc. will post 3.83 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 Wednesday, September 24th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.68 annualized dividend and a yield of 1.9%. CNO Financial Group's dividend payout ratio is presently 25.09%.

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.