Pzena Investment Management LLC Cuts Stake in CNO Financial Group, Inc. $CNO

Pzena Investment Management LLC lowered its position in shares of CNO Financial Group, Inc. (NYSE:CNO) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,552,298 shares of the financial services provider’s stock after selling 12,495 shares during the period. Pzena Investment Management LLC owned about 2.57% of CNO Financial Group worth $98,468,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of CNO Financial Group during the first quarter valued at $28,000. UMB Bank n.a. increased its stake in shares of CNO Financial Group by 89.7% during 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 during the period. Geneos Wealth Management Inc. increased its stake in shares of CNO Financial Group by 637.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,243 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CNO Financial Group during the first quarter valued at $92,000. Finally, GAMMA Investing LLC grew its stake in CNO Financial Group by 25.0% in the first quarter. GAMMA Investing LLC now owns 2,861 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 572 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CNO shares. Keefe, Bruyette & Woods lifted their target price on CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, CNO Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.60.

CNO Financial Group Price Performance

Shares of CNO stock opened at $39.28 on Monday. CNO Financial Group, Inc. has a fifty-two week low of $34.10 and a fifty-two week high of $43.20. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 14.49 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day simple moving average is $38.90 and its 200-day simple moving average is $38.27.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Friday, May 19th. The financial services provider reported $0.84 earnings per share for the quarter. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%.The business had revenue of $968.30 million for the quarter. As a group, equities analysts forecast that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. CNO Financial Group’s payout ratio is presently 25.09%.

About CNO Financial Group

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.