NewEdge Wealth LLC Buys Shares of 15,621 CNO Financial Group, Inc. $CNO

NewEdge Wealth LLC purchased a new position in CNO Financial Group, Inc. (NYSE:CNO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,621 shares of the financial services provider’s stock, valued at approximately $796,000.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in CNO Financial Group by 29.5% in the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock valued at $7,332,000 after buying an additional 40,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CNO Financial Group by 1.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock worth $2,531,000 after buying an additional 797 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CNO Financial Group by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock worth $15,692,000 after buying an additional 20,728 shares during the period. Jane Street Group LLC increased its stake in shares of CNO Financial Group by 146.4% in the 1st quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock valued at $6,212,000 after acquiring an additional 88,619 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,243 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNO. Evercore set a $48.00 price objective on shares of CNO Financial Group and gave the stock an “in-line” rating in a research note on Monday, June 1st. Jefferies Financial Group downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating and upped their target price for the company from $53.00 to $55.00 in a research note on Friday, July 10th. 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. Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.50.

CNO Financial Group Trading Up 0.5%

NYSE CNO opened at $53.40 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of 18.35 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. The stock’s 50-day moving average is $53.11 and its 200-day moving average is $46.98. 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 issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $999.45 million. During the same period in the previous year, the firm earned $0.87 EPS. CNO Financial Group’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 4.74 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. CNO Financial Group’s payout ratio is presently 24.74%.

Insider Buying and Selling

In other news, 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 owned 79,191 shares in the company, valued at $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at $8,971,110.72. This represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 95,106 shares of company stock worth $4,879,343. Insiders own 3.44% of the company’s stock.

About CNO Financial Group

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.