Virginia Retirement Systems ET AL Invests $749,000 in CNO Financial Group Inc. (CNO)
Virginia Retirement Systems ET AL bought a new position in shares of CNO Financial Group Inc. (NYSE:CNO) during the second quarter, Holdings Channel reports. The firm bought 42,900 shares of the company’s stock, valued at approximately $749,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Seven Eight Capital LLC acquired a new position in shares of CNO Financial Group during the first quarter worth $102,000. World Asset Management Inc purchased a new stake in CNO Financial Group during the second quarter valued at $175,000. LS Investment Advisors LLC raised its stake in CNO Financial Group by 74.4% in the second quarter. LS Investment Advisors LLC now owns 10,740 shares of the company’s stock valued at $188,000 after buying an additional 4,580 shares during the period. Meeder Asset Management Inc. purchased a new stake in CNO Financial Group during the first quarter valued at $236,000. Finally, Calvert Investment Management Inc. purchased a new stake in CNO Financial Group during the second quarter valued at $242,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.
CNO Financial Group Inc. (NYSE:CNO) opened at 15.00 on Tuesday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 10.08 and a beta of 1.23. CNO Financial Group Inc. has a 52-week low of $14.30 and a 52-week high of $20.88. The company’s 50-day moving average price is $15.69 and its 200 day moving average price is $17.58.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. CNO Financial Group had a return on equity of 5.68% and a net margin of 7.20%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $961.56 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that CNO Financial Group Inc. will post $1.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, September 7th. CNO Financial Group’s dividend payout ratio (DPR) is presently 21.48%.
Several analysts have weighed in on the company. Deutsche Bank AG set a $16.00 target price on CNO Financial Group and gave the company a “hold” rating in a report on Friday. Evercore ISI began coverage on CNO Financial Group in a research report on Wednesday, July 6th. They issued a “hold” rating and a $19.00 price objective on the stock. Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, September 6th. Citigroup Inc. reduced their price objective on CNO Financial Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on CNO Financial Group and gave the company a “hold” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.85.
CNO Financial Group Company Profile
CNO Financial Group, Inc is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn.
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