BlackRock Inc. Acquires 536,084 Shares of CNO Financial Group Inc (CNO)

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BlackRock Inc. increased its holdings in shares of CNO Financial Group Inc (NYSE:CNO) by 3.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,675,104 shares of the financial services provider’s stock after purchasing an additional 536,084 shares during the period. BlackRock Inc. owned 10.13% of CNO Financial Group worth $317,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC boosted its stake in CNO Financial Group by 11.2% in the first quarter. Profund Advisors LLC now owns 28,726 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 2,893 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in CNO Financial Group by 3.4% in the second quarter. Piedmont Investment Advisors LLC now owns 87,781 shares of the financial services provider’s stock valued at $1,671,000 after acquiring an additional 2,902 shares in the last quarter. Arizona State Retirement System boosted its stake in CNO Financial Group by 3.0% in the second quarter. Arizona State Retirement System now owns 116,192 shares of the financial services provider’s stock valued at $2,212,000 after acquiring an additional 3,346 shares in the last quarter. Comerica Bank boosted its stake in CNO Financial Group by 2.3% in the second quarter. Comerica Bank now owns 159,865 shares of the financial services provider’s stock valued at $3,172,000 after acquiring an additional 3,615 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in CNO Financial Group by 3.7% in the second quarter. Bank of Montreal Can now owns 108,600 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 3,889 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

In other news, EVP Bruce K. Baude sold 33,000 shares of CNO Financial Group stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $22.17, for a total transaction of $731,610.00. Following the completion of the sale, the executive vice president now directly owns 52,047 shares in the company, valued at $1,153,881.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

NYSE:CNO opened at $21.94 on Friday. CNO Financial Group Inc has a 12 month low of $18.65 and a 12 month high of $26.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $3.42 billion, a PE ratio of 10.86 and a beta of 1.13.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. equities analysts predict that CNO Financial Group Inc will post 1.97 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Monday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.82%. CNO Financial Group’s payout ratio is currently 19.80%.

Several brokerages have weighed in on CNO. Zacks Investment Research upgraded shares of CNO Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, June 22nd. ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. B. Riley lowered their target price on shares of CNO Financial Group from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, June 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.00 target price on shares of CNO Financial Group in a research note on Friday, August 17th. Finally, Morgan Stanley restated an “equal weight” rating on shares of CNO Financial Group in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.80.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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