204,380 Shares in CNO Financial Group, Inc. $CNO Bought by Man Group plc

Man Group plc purchased a new stake in CNO Financial Group, Inc. (NYSE:CNO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 204,380 shares of the financial services provider’s stock, valued at approximately $10,419,000. Man Group plc owned 0.22% of CNO Financial Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jupiter Topco LLC acquired a new position in CNO Financial Group during the second quarter worth $1,992,000. Hsbc Holdings PLC bought a new position in shares of CNO Financial Group in the second quarter valued at $3,169,000. Canada Pension Plan Investment Board acquired a new position in shares of CNO Financial Group during the second quarter valued at about $4,201,000. Legal & General Group Plc acquired a new position in shares of CNO Financial Group during the second quarter valued at about $6,474,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of CNO Financial Group during the second quarter worth about $4,307,000. Institutional investors own 95.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNO shares. Weiss Ratings upgraded shares of CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Capital One Financial set a $70.00 price objective on CNO Financial Group in a research note on Wednesday. Finally, Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.00.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $55.41 on Friday. The firm has a 50-day moving average of $53.50 and a 200-day moving average of $47.39. The company has a market cap of $5.13 billion, a P/E ratio of 19.04 and a beta of 0.81. 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 one year low of $38.22 and a one year high of $57.59.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $999.45 million. During the same period last year, the firm earned $0.87 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that CNO Financial Group, Inc. will post 4.74 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend 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%.

Insider Activity at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 in the company, valued at $8,971,110.72. The trade was a 33.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 95,106 shares of company stock worth $4,879,343. Insiders own 3.44% of the company’s stock.

CNO Financial Group Profile

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.