Fifth Third Bancorp Purchases 68,602 Shares of CNO Financial Group, Inc. $CNO

Fifth Third Bancorp boosted its position in CNO Financial Group, Inc. (NYSE:CNO) by 3,633.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,490 shares of the financial services provider’s stock after purchasing an additional 68,602 shares during the period. Fifth Third Bancorp owned approximately 0.08% of CNO Financial Group worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Pzena Investment Management LLC increased its stake in CNO Financial Group by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider’s stock worth $101,456,000 after buying an additional 8,053 shares during the period. Morgan Stanley grew its position in shares of CNO Financial Group by 20.5% during the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after buying an additional 317,690 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of CNO Financial Group by 35.6% during the fourth quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock valued at $51,730,000 after buying an additional 319,795 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CNO Financial Group by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 882,512 shares of the financial services provider’s stock valued at $34,903,000 after buying an additional 91,417 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in CNO Financial Group by 32.6% in the second quarter. Balyasny Asset Management L.P. now owns 764,867 shares of the financial services provider’s stock worth $29,509,000 after acquiring an additional 187,974 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Trading Down 1.0%

Shares of NYSE:CNO opened at $53.07 on Tuesday. The business’s 50-day moving average is $49.84 and its 200 day moving average is $44.96. The firm has a market capitalization of $4.95 billion, a P/E ratio of 21.31 and a beta of 0.81. CNO Financial Group, Inc. has a 1 year low of $35.24 and a 1 year high of $54.09. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were paid a $0.18 dividend. The ex-dividend date was Wednesday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. CNO Financial Group’s dividend payout ratio (DPR) is currently 28.92%.

Insider Activity

In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares in the company, valued at approximately $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the transaction, the chief executive officer owned 174,264 shares in the company, valued at $8,971,110.72. This trade represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore set a $48.00 target price on CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Friday. Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Jefferies Financial Group downgraded CNO Financial Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $53.00 to $55.00 in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their target price on CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, CNO Financial Group has a consensus rating of “Hold” and an average price target of $51.50.

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.