Legal & General Group Plc Makes New Investment in CNO Financial Group, Inc. $CNO

Legal & General Group Plc purchased a new stake in shares of CNO Financial Group, Inc. (NYSE:CNO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 126,999 shares of the financial services provider’s stock, valued at approximately $6,474,000. Legal & General Group Plc owned 0.14% of CNO Financial Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in shares of CNO Financial Group by 72.0% in the second quarter. Versant Capital Management Inc now owns 1,132 shares of the financial services provider’s stock worth $58,000 after buying an additional 474 shares during the last quarter. Bessemer Group Inc. increased its holdings in CNO Financial Group by 75.4% during the first quarter. Bessemer Group Inc. now owns 1,133 shares of the financial services provider’s stock valued at $46,000 after buying an additional 487 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in CNO Financial Group by 123.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock valued at $45,000 after buying an additional 649 shares during the last quarter. Osaic Holdings Inc. raised its position in CNO Financial Group by 39.2% in the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 336 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in CNO Financial Group by 637.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,243 shares during the period. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Analyst Upgrades and Downgrades

CNO has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded CNO Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Evercore set a $48.00 price target on CNO Financial Group and gave the stock an “in-line” rating in a research report on Monday, June 1st. Wall Street Zen raised CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Capital One Financial set a $70.00 price objective on CNO Financial Group in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, CNO Financial Group presently has an average rating of “Hold” and a consensus price target of $56.00.

Key Stories Impacting CNO Financial Group

Here are the key news stories impacting CNO Financial Group this week:

• Positive Sentiment: CNO’s September 1 investor briefing highlighted growth strategies and operating momentum in its worksite and Medicare operations, potentially reinforcing the investment case and helping support the stock’s recent strength. CNO Financial Highlights Growth in Worksite and Medicare Operations
• Positive Sentiment: Management’s discussion of business strategies and growth drivers in the worksite and Medicare segments gives investors additional visibility into potential expansion areas and future earnings support. CNO Financial Group Discusses Worksite and Medicare Business Strategies and Growth Drivers Transcript
• Negative Sentiment: Insiders Karen J. Detoro and Jeanne L. Linnenbringer collectively sold approximately 39,213 shares worth about $2.15 million across August 31 through September 2. The sales reduce their individual holdings and could signal profit-taking or create a modest overhang, though both sets of transactions were executed under pre-arranged Rule 10b5-1 plans. Karen J. Detoro SEC Form 4 Jeanne L. Linnenbringer SEC Form 4

CNO Financial Group Stock Performance

NYSE:CNO opened at $55.33 on Thursday. The stock has a 50-day moving average price of $53.67 and a 200 day moving average price of $47.68. The stock has a market capitalization of $5.12 billion, a P/E ratio of 19.01 and a beta of 0.80. CNO Financial Group, Inc. has a 12-month low of $38.22 and a 12-month high of $57.59. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. During the same period in the previous year, the firm earned $0.87 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that CNO Financial Group, Inc. will post 4.74 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. CNO Financial Group’s payout ratio is 24.74%.

Insider Activity at CNO Financial Group

In related news, insider Karen J. Detoro sold 9,374 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $54.98, for a total transaction of $515,382.52. Following the completion of the transaction, the insider owned 44,250 shares in the company, valued at approximately $2,432,865. This represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. The trade was a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,319 shares of company stock worth $7,033,335 in the last three months. Insiders own 3.44% of the company’s stock.

CNO Financial Group Company Profile

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.