CNO Financial Group, Inc. (CNO) Stake Increased by Cambria Investment Management L.P.

Cambria Investment Management L.P. boosted its stake in CNO Financial Group, Inc. (NYSE:CNO) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,244 shares of the financial services provider’s stock after buying an additional 844 shares during the period. Cambria Investment Management L.P.’s holdings in CNO Financial Group were worth $1,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNO. Ladenburg Thalmann Financial Services Inc. increased its position in shares of CNO Financial Group by 128.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,265 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,081 shares during the period. Elkfork Partners LLC purchased a new position in shares of CNO Financial Group during the fourth quarter valued at approximately $179,000. Envestnet Asset Management Inc. increased its position 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. Pacad Investment Ltd. increased its position in shares of CNO Financial Group by 0.9% in the fourth quarter. Pacad Investment Ltd. now owns 11,400 shares of the financial services provider’s stock valued at $218,000 after buying an additional 100 shares during the period. Finally, Teza Capital Management LLC purchased a new position in shares of CNO Financial Group during the first quarter valued at approximately $219,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.

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

Shares of CNO Financial Group, Inc. (CNO) traded down 1.96% during mid-day trading on Tuesday, hitting $19.97. 3,065,828 shares of the stock traded hands. CNO Financial Group, Inc. has a one year low of $14.30 and a one year high of $22.60. The company’s 50 day moving average is $20.75 and its 200 day moving average is $20.18. The firm has a market capitalization of $3.42 billion, a P/E ratio of 9.38 and a beta of 1.26.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. CNO Financial Group had a net margin of 9.16% and a return on equity of 5.51%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $0.26 earnings per share. CNO Financial Group’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts expect that CNO Financial Group, Inc. will post $1.50 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.80%. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, June 7th. CNO Financial Group’s dividend payout ratio (DPR) is currently 16.82%.

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Several research analysts recently commented on the stock. FBR & Co reiterated an “outperform” rating and issued a $23.00 target price 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 Friday. Keefe, Bruyette & Woods set a $22.00 price objective on shares of CNO Financial Group and gave the stock a “hold” rating in a report on Friday, March 17th. Wells Fargo & Co restated a “hold” rating on shares of CNO Financial Group in a report on Monday, June 5th. Finally, Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target 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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