CNO Financial Group, Inc. $CNO Stock: Pzena Investment Management LLC Decreases Stake

Pzena Investment Management LLC lessened its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,064,300 shares of the financial services provider’s stock after selling 377,365 shares during the quarter. Pzena Investment Management LLC’s holdings in CNO Financial Group were worth $109,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Callan Family Office LLC purchased a new position in CNO Financial Group during the 2nd quarter valued at $1,089,000. BlackRock Inc. purchased a new stake in shares of CNO Financial Group in the 2nd quarter worth about $682,433,000. Deutsche Bank AG purchased a new stake in shares of CNO Financial Group in the 2nd quarter worth about $6,545,000. Hsbc Holdings PLC lifted its position in shares of CNO Financial Group by 102.1% in the 4th quarter. Hsbc Holdings PLC now owns 45,025 shares of the financial services provider’s stock worth $1,914,000 after purchasing an additional 22,749 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of CNO Financial Group by 26.0% during the 1st quarter. Quantinno Capital Management LP now owns 219,598 shares of the financial services provider’s stock valued at $9,017,000 after purchasing an additional 45,248 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $57.82 on Thursday. CNO Financial Group, Inc. has a 12 month low of $38.99 and a 12 month high of $58.94. The firm has a market capitalization of $5.35 billion, a P/E ratio of 13.20 and a beta of 0.80. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.95. The business has a fifty day simple moving average of $54.75 and a two-hundred day simple moving average of $48.71.

CNO Financial Group (NYSE:CNO) last released its earnings results on Thursday, October 29th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.80. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.01 billion. CNO Financial Group had a net margin of 9.19% and a return on equity of 22.64%. During the same period in the prior year, the firm earned $1.29 EPS. On average, equities analysts forecast that CNO Financial Group, Inc. will post 4.74 earnings per share for the current fiscal year.

Insider Activity at CNO Financial Group

In related news, insider Karen DeToro sold 9,374 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $54.98, for a total transaction of $515,382.52. Following the sale, the insider owned 44,250 shares of the company’s stock, valued at $2,432,865. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeremy Williams sold 4,420 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $55.27, for a total transaction of $244,293.40. Following the sale, the insider directly owned 62,163 shares in the company, valued at $3,435,749.01. The trade was a 6.64% 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 a total of 47,995 shares of company stock valued at $2,641,336 in the last three months. Company insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of CNO Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Keefe, Bruyette & Woods lifted their price objective on 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. Weiss Ratings downgraded CNO Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, October 23rd. Jefferies Financial Group lowered CNO Financial Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $53.00 to $55.00 in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

CNO Financial Group Profile

CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.

CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.