Pzena Investment Management LLC Acquires 1,450,851 Shares of CNO Financial Group Inc (NYSE:CNO)

Pzena Investment Management LLC boosted its holdings in CNO Financial Group Inc (NYSE:CNO) by 60.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,855,224 shares of the financial services provider’s stock after acquiring an additional 1,450,851 shares during the quarter. Pzena Investment Management LLC owned 2.39% of CNO Financial Group worth $64,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNO. Envestnet Asset Management Inc. raised its holdings in CNO Financial Group by 31.3% in the second quarter. Envestnet Asset Management Inc. now owns 14,351 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 3,421 shares during the period. Stevens Capital Management LP bought a new stake in shares of CNO Financial Group during the second quarter worth $429,000. Aperio Group LLC increased its position in shares of CNO Financial Group by 10.4% during the second quarter. Aperio Group LLC now owns 114,143 shares of the financial services provider’s stock worth $1,904,000 after acquiring an additional 10,744 shares in the last quarter. Systematic Financial Management LP bought a new stake in shares of CNO Financial Group during the second quarter worth $949,000. Finally, Virginia Retirement Systems ET AL increased its position in shares of CNO Financial Group by 19.9% during the second quarter. Virginia Retirement Systems ET AL now owns 84,500 shares of the financial services provider’s stock worth $1,409,000 after acquiring an additional 14,000 shares in the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of CNO Financial Group from a “hold” rating to a “sell” rating and set a $18.00 price target for the company. in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.50.

NYSE CNO traded up $0.52 on Friday, reaching $15.09. 19,608 shares of the company’s stock traded hands, compared to its average volume of 1,119,575. CNO Financial Group Inc has a 12 month low of $13.64 and a 12 month high of $22.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a 50-day simple moving average of $16.33 and a 200 day simple moving average of $16.64. The stock has a market cap of $2.40 billion, a PE ratio of 8.26 and a beta of 1.22.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. CNO Financial Group had a negative net margin of 9.67% and a positive return on equity of 7.71%. The firm had revenue of $979.80 million for the quarter, compared to analysts’ expectations of $956.66 million. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. As a group, analysts anticipate that CNO Financial Group Inc will post 1.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, September 9th. CNO Financial Group’s payout ratio is 24.04%.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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

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