Gargoyle Investment Advisor L.L.C. increased its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 60.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,587 shares of the financial services provider’s stock after buying an additional 59,157 shares during the period. CNO Financial Group comprises 1.3% of Gargoyle Investment Advisor L.L.C.’s portfolio, making the stock its 16th largest position. Gargoyle Investment Advisor L.L.C.’s holdings in CNO Financial Group were worth $3,290,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of CNO Financial Group by 1,250.7% in the first quarter. Envestnet Asset Management Inc. now owns 9,036 shares of the financial services provider’s stock valued at $185,000 after buying an additional 8,367 shares during the period. Trexquant Investment LP bought a new stake in shares of CNO Financial Group during the second quarter valued at about $202,000. Teza Capital Management LLC bought a new stake in shares of CNO Financial Group during the first quarter valued at about $219,000. Laurion Capital Management LP bought a new stake in shares of CNO Financial Group during the first quarter valued at about $242,000. Finally, New York State Teachers Retirement System raised its stake in shares of CNO Financial Group by 197.6% in the first quarter. New York State Teachers Retirement System now owns 12,200 shares of the financial services provider’s stock valued at $250,000 after buying an additional 8,100 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Shares of CNO Financial Group, Inc. (CNO) opened at 23.14 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.12 and a beta of 1.22. The firm’s 50-day moving average is $21.82 and its 200-day moving average is $20.83. CNO Financial Group, Inc. has a 52 week low of $14.30 and a 52 week high of $23.95.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.56%. CNO Financial Group’s dividend payout ratio (DPR) is 15.72%.

CNO Financial Group declared that its board has approved a share repurchase program on Wednesday, May 10th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several brokerages recently issued reports on CNO. FBR & Co restated an “outperform” rating and issued a $23.00 price objective on shares of CNO Financial Group in a report on Wednesday, May 31st. BidaskClub upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of CNO Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Wells Fargo & Company restated a “hold” rating on shares of CNO Financial Group in a report on Tuesday, June 20th. Finally, ValuEngine upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $21.33.

CNO Financial Group Company Profile

CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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