Corient Private Wealth LP Makes New Investment in CNO Financial Group, Inc. $CNO

Corient Private Wealth LP acquired a new position in CNO Financial Group, Inc. (NYSE:CNOFree Report) in the second quarter, Holdings Channel.com reports. The firm acquired 74,292 shares of the financial services provider’s stock, valued at approximately $2,140,000.

Several other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of CNO Financial Group during the 2nd quarter valued at about $50,034,000. Odyssean LLC bought a new stake in CNO Financial Group in the 2nd quarter worth approximately $397,000. Man Group plc bought a new stake in CNO Financial Group in the 2nd quarter worth approximately $10,419,000. Jupiter Topco LLC purchased a new stake in CNO Financial Group in the second quarter worth approximately $1,992,000. Finally, Hsbc Holdings PLC purchased a new stake in CNO Financial Group in the second quarter worth approximately $3,169,000. 95.43% of the stock is currently owned by institutional investors.

CNO Financial Group Price Performance

CNO opened at $55.33 on Thursday. The stock’s 50 day simple moving average is $53.67 and its 200 day simple moving average is $47.68. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.17 and a quick ratio of 0.17. CNO Financial Group, Inc. has a 1 year low of $38.22 and a 1 year high of $57.59. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 0.80.

CNO Financial Group (NYSE:CNOGet Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that CNO Financial Group, Inc. will post 4.74 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. CNO Financial Group’s dividend payout ratio (DPR) is currently 24.74%.

CNO Financial Group News Roundup

Here are the key news stories impacting CNO Financial Group this week:

Analyst Ratings Changes

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of CNO Financial Group from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Capital One Financial set a $70.00 price objective on shares of CNO Financial Group in a report on Wednesday, August 26th. Weiss Ratings raised shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.00.

Check Out Our Latest Report on CNO Financial Group

Insider Activity

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the completion of the sale, the chief marketing officer owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen J. Detoro sold 9,374 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $54.98, for a total transaction of $515,382.52. Following the completion of the sale, the insider directly owned 44,250 shares in the company, valued at approximately $2,432,865. This trade represents a 17.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 134,319 shares of company stock valued at $7,033,335 in the last three months. Corporate insiders own 3.44% of the company’s stock.

About CNO Financial Group

(Free Report)

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

See Also

Want to see what other hedge funds are holding CNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CNO Financial Group, Inc. (NYSE:CNOFree Report).

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

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