PNC Financial Services Group Inc. Boosts Stake in CNO Financial Group, Inc. $CNO

PNC Financial Services Group Inc. raised its holdings in shares of CNO Financial Group, Inc. (NYSE:CNO) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,483 shares of the financial services provider’s stock after buying an additional 633 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CNO Financial Group were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in CNO Financial Group during the first quarter worth about $28,000. UMB Bank n.a. grew its position in CNO Financial Group by 89.7% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $42,000 after buying an additional 477 shares in the last quarter. Versant Capital Management Inc grew its position in CNO Financial Group by 148.6% during the first quarter. Versant Capital Management Inc now owns 1,099 shares of the financial services provider’s stock worth $46,000 after buying an additional 657 shares in the last quarter. Quarry LP boosted its holdings in shares of CNO Financial Group by 137.8% in the 4th quarter. Quarry LP now owns 1,334 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 773 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CNO Financial Group in the 1st quarter worth about $92,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael E. Mead sold 12,581 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $37.97, for a total value of $477,700.57. Following the completion of the sale, the insider owned 15,729 shares of the company’s stock, valued at approximately $597,230.13. The trade was a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.38% of the company’s stock.

CNO Financial Group Price Performance

CNO opened at $37.60 on Monday. The stock has a 50-day moving average price of $37.32 and a 200-day moving average price of $38.63. CNO Financial Group, Inc. has a 12-month low of $31.40 and a 12-month high of $43.20. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $3.64 billion, a P/E ratio of 13.87 and a beta of 0.90.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. CNO Financial Group had a return on equity of 16.63% and a net margin of 6.41%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $971.25 million. During the same period in the prior year, the business earned $1.06 EPS. Equities analysts predict that CNO Financial Group, Inc. will post 3.83 earnings per share for the current fiscal year.

CNO Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, September 10th. CNO Financial Group’s dividend payout ratio is presently 25.09%.

CNO Financial Group Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.