Vanguard Group Inc. Sells 757,582 Shares of CNO Financial Group, Inc. $CNO

Key Points

• Vanguard Group Inc. has reduced its stake in CNO Financial Group by 5.7%, selling 757,582 shares to own approximately 12.57% of the company, valued at $525.2 million.
• CNO Financial Group recently reported strong quarterly earnings, exceeding expectations with $0.87 earnings per share and revenue of $1.15 billion for the quarter.
• The company has declared a quarterly dividend of $0.17 per share, representing an annual yield of 1.8%, to be paid on September 24th.

Vanguard Group Inc. cut its holdings in CNO Financial Group, Inc. (NYSE:CNO - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,610,130 shares of the financial services provider's stock after selling 757,582 shares during the quarter. Vanguard Group Inc. owned about 12.57% of CNO Financial Group worth $525,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNO. Neo Ivy Capital Management acquired a new position in shares of CNO Financial Group in the first quarter valued at approximately $28,000. UMB Bank n.a. grew its stake in shares of CNO Financial Group by 89.7% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $42,000 after buying an additional 477 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of CNO Financial Group by 148.6% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 657 shares during the period. Quarry LP lifted its position in shares of CNO Financial Group by 137.8% in the fourth quarter. Quarry LP now owns 1,334 shares of the financial services provider's stock valued at $50,000 after buying an additional 773 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CNO Financial Group in the first quarter valued at $92,000. Institutional investors own 95.43% of the company's stock.

Insider Buying and Selling

In other 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 value of $477,700.57. Following the sale, the insider directly owned 15,729 shares of the company's stock, valued at approximately $597,230.13. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.38% of the stock is currently owned by company insiders.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded up $0.31 during trading hours on Tuesday, reaching $38.08. 43,757 shares of the stock were exchanged, compared to its average volume of 705,701. The stock's fifty day simple moving average is $37.31 and its 200 day simple moving average is $38.62. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 14.08 and a beta of 0.90. CNO Financial Group, Inc. has a 52 week low of $31.40 and a 52 week high of $43.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17.

CNO Financial Group (NYSE:CNO - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $1.15 billion for 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 quarter last year, the company posted $1.06 EPS. Sell-side analysts predict that CNO Financial Group, Inc. will post 3.83 EPS for the current year.

CNO Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.68 annualized dividend and a yield of 1.8%. CNO Financial Group's dividend payout ratio is 25.09%.

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.