Ieq Capital LLC Takes $2.42 Million Position in CNO Financial Group, Inc. $CNO

Ieq Capital LLC bought a new position in shares of CNO Financial Group, Inc. (NYSE:CNO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,386 shares of the financial services provider’s stock, valued at approximately $2,416,000. Ieq Capital LLC owned approximately 0.05% of CNO Financial Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Callan Family Office LLC acquired a new stake in CNO Financial Group in the 2nd quarter valued at about $1,089,000. Allworth Financial LP acquired a new position in shares of CNO Financial Group during the 2nd quarter worth approximately $276,000. West Family Investments Inc. acquired a new position in shares of CNO Financial Group during the 2nd quarter worth approximately $279,000. NewEdge Wealth LLC purchased a new stake in shares of CNO Financial Group in the second quarter valued at approximately $796,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of CNO Financial Group in the second quarter valued at approximately $243,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Stock Up 0.1%

CNO stock opened at $54.29 on Wednesday. The firm has a market cap of $5.02 billion, a PE ratio of 18.66 and a beta of 0.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17. The firm’s 50 day moving average price is $53.26 and its 200-day moving average price is $47.17. CNO Financial Group, Inc. has a one year low of $38.22 and a one year high of $57.59.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.29. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities research analysts anticipate that CNO Financial Group, Inc. will post 4.74 EPS for the current year.

CNO Financial Group Dividend Announcement

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

Insiders Place Their Bets

In other CNO Financial Group news, CEO Gary C. Bhojwani sold 86,048 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the transaction, the chief executive officer owned 174,264 shares of the company’s stock, valued at $8,971,110.72. This represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 95,106 shares of company stock valued at $4,879,343. Company insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CNO shares. Weiss Ratings raised CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Jefferies Financial Group lowered CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods boosted 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. Two 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 stock presently has a consensus rating of “Hold” and an average price target of $52.50.

About CNO Financial Group

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.