Mason Street Advisors LLC Takes Position in CNO Financial Group Inc. (CNO)
Mason Street Advisors LLC bought a new position in shares of CNO Financial Group Inc. (NYSE:CNO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 81,675 shares of the company’s stock, valued at approximately $1,426,000.
Several other large investors also recently modified their holdings of the stock. Seven Eight Capital LLC bought a new stake in shares of CNO Financial Group during the first quarter worth about $102,000. Cantab Capital Partners LLP bought a new stake in shares of CNO Financial Group during the second quarter worth about $146,000. World Asset Management Inc bought a new stake in shares of CNO Financial Group during the second quarter worth about $175,000. Zacks Investment Management bought a new stake in shares of CNO Financial Group during the second quarter worth about $179,000. Finally, LS Investment Advisors LLC raised its stake in shares of CNO Financial Group by 74.4% in the second quarter. LS Investment Advisors LLC now owns 10,740 shares of the company’s stock worth $188,000 after buying an additional 4,580 shares during the period. 97.92% of the stock is owned by institutional investors.
CNO Financial Group Inc. (NYSE:CNO) opened at 15.10 on Tuesday. The stock’s 50 day moving average is $15.70 and its 200 day moving average is $17.79. The company has a market cap of $2.64 billion, a P/E ratio of 10.15 and a beta of 1.31. CNO Financial Group Inc. has a 12-month low of $14.66 and a 12-month high of $20.88.
CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. CNO Financial Group had a net margin of 7.20% and a return on equity of 5.68%. The company earned $1 billion during the quarter, compared to the consensus estimate of $961.56 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that CNO Financial Group Inc. will post $1.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, September 7th. CNO Financial Group’s dividend payout ratio is 21.48%.
A number of equities research analysts have issued reports on the stock. Morgan Stanley reissued a “hold” rating and set a $19.00 target price on shares of CNO Financial Group in a research note on Thursday, July 28th. Citigroup Inc. reduced their price objective on shares of CNO Financial Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Zacks Investment Research raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, September 6th. Deutsche Bank AG reduced their price objective on shares of CNO Financial Group from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, July 28th. Finally, Evercore ISI initiated coverage on shares of CNO Financial Group in a research note on Wednesday, July 6th. They issued a “hold” rating and a $19.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CNO Financial Group currently has an average rating of “Buy” and a consensus target price of $19.65.
In other news, EVP Christopher J. Nickele sold 24,996 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $19.25, for a total transaction of $481,173.00. Following the completion of the sale, the executive vice president now owns 74,975 shares of the company’s stock, valued at $1,443,268.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.
About CNO Financial Group
CNO Financial Group, Inc is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn.
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