Bank of New York Mellon Corp Increases Position in CNO Financial Group, Inc. (CNO)

Bank of New York Mellon Corp increased its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,840,448 shares of the financial services provider’s stock after buying an additional 247,675 shares during the period. Bank of New York Mellon Corp owned approximately 2.21% of CNO Financial Group worth $78,728,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its stake in CNO Financial Group by 66.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,833,970 shares of the financial services provider’s stock worth $111,721,000 after buying an additional 2,339,000 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in CNO Financial Group by 4.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,636,011 shares of the financial services provider’s stock worth $70,792,000 after buying an additional 182,857 shares during the last quarter. LSV Asset Management raised its stake in CNO Financial Group by 25.4% in the first quarter. LSV Asset Management now owns 4,338,908 shares of the financial services provider’s stock worth $88,947,000 after buying an additional 878,522 shares during the last quarter. Wells Fargo & Company MN increased its position in CNO Financial Group by 9.9% in the third quarter. Wells Fargo & Company MN now owns 3,599,123 shares of the financial services provider’s stock worth $54,958,000 after buying an additional 324,326 shares during the last quarter. Finally, Norges Bank purchased a new position in CNO Financial Group during the fourth quarter worth about $38,927,000. Institutional investors own 94.43% of the company’s stock.

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

CNO Financial Group, Inc. (NYSE:CNO) traded down 1.96% during midday trading on Tuesday, reaching $19.97. The company’s stock had a trading volume of 3,064,869 shares. The stock’s 50-day moving average price is $20.75 and its 200 day moving average price is $20.18. CNO Financial Group, Inc. has a 1-year low of $14.30 and a 1-year high of $22.60. The firm has a market capitalization of $3.42 billion, a PE ratio of 9.38 and a beta of 1.26.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Wednesday, April 26th. The financial services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. CNO Financial Group had a return on equity of 5.51% and a net margin of 9.16%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. CNO Financial Group’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts anticipate that CNO Financial Group, Inc. will post $1.50 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a $0.09 dividend. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Wednesday, June 7th. CNO Financial Group’s payout ratio is presently 16.82%.

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A number of research firms have recently issued reports on CNO. BidaskClub raised CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Co reissued a “hold” rating on shares of CNO Financial Group in a research report on Monday, June 5th. FBR & Co reissued an “outperform” rating and set a $23.00 price target on shares of CNO Financial Group in a research report on Wednesday, May 31st. Zacks Investment Research downgraded CNO Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. Finally, Keefe, Bruyette & Woods set a $22.00 price objective on CNO Financial Group and gave the company a “hold” rating in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.75.

About CNO Financial Group

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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