JPMorgan Chase & Co. Trims Stake in CNO Financial Group, Inc. $CNO

JPMorgan Chase & Co. reduced its stake in CNO Financial Group, Inc. (NYSE:CNO) by 13.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,095 shares of the financial services provider’s stock after selling 123,528 shares during the period. JPMorgan Chase & Co. owned 0.82% of CNO Financial Group worth $30,520,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CNO. Natixis Advisors LLC purchased a new position in shares of CNO Financial Group in the 1st quarter valued at approximately $493,000. Allianz Asset Management GmbH lifted its position in CNO Financial Group by 70.9% during the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock valued at $59,673,000 after buying an additional 641,950 shares during the period. Clark Capital Management Group Inc. bought a new stake in shares of CNO Financial Group during the 1st quarter valued at $4,975,000. Cetera Investment Advisers purchased a new stake in shares of CNO Financial Group in the 1st quarter worth about $722,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of CNO Financial Group in the 1st quarter worth about $903,000. 95.43% of the stock is owned by institutional investors.

CNO Financial Group Trading Down 1.8%

Shares of NYSE CNO opened at $40.04 on Wednesday. The firm’s 50 day moving average price is $40.09 and its 200-day moving average price is $38.73. CNO Financial Group, Inc. has a 52-week low of $34.63 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $3.82 billion, a PE ratio of 14.00 and a beta of 0.86.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Friday, May 19th. The financial services provider reported $0.84 earnings per share for the quarter. The company had revenue of $968.30 million during the quarter. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. On average, equities research analysts expect that CNO Financial Group, Inc. will post 3.83 EPS for the current fiscal year.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. CNO Financial Group’s payout ratio is currently 23.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CNO shares. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CNO Financial Group presently has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Insider Activity

In related news, CIO Eric R. Johnson sold 48,665 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $41.24, for a total transaction of $2,006,944.60. Following the sale, the executive directly owned 671,542 shares of the company’s stock, valued at $27,694,392.08. This trade represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.38% of the stock is currently owned by insiders.

About CNO Financial Group

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.