Dimensional Fund Advisors LP Trims Stake in CNO Financial Group, Inc. (NYSE:CNO)

Dimensional Fund Advisors LP reduced its position in CNO Financial Group, Inc. (NYSE:CNO) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,813,848 shares of the financial services provider’s stock after selling 13,637 shares during the quarter. Dimensional Fund Advisors LP owned 3.52% of CNO Financial Group worth $105,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its position in CNO Financial Group by 64.1% in the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 447 shares during the period. EntryPoint Capital LLC bought a new position in CNO Financial Group in the 1st quarter worth about $52,000. Blue Trust Inc. grew its stake in CNO Financial Group by 25.4% in the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 483 shares in the last quarter. Covestor Ltd grew its stake in CNO Financial Group by 18.9% in the 1st quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 571 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in CNO Financial Group by 183.5% in the 2nd quarter. Fifth Third Bancorp now owns 4,170 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 2,699 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Price Performance

NYSE CNO opened at $35.12 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s 50 day moving average price is $32.75 and its 200-day moving average price is $29.25. CNO Financial Group, Inc. has a 52-week low of $22.27 and a 52-week high of $35.63. The company has a market cap of $3.80 billion, a PE ratio of 10.24 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.33. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $929.99 million. During the same period last year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that CNO Financial Group, Inc. will post 3.43 EPS for the current fiscal year.

CNO Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.82%. CNO Financial Group’s dividend payout ratio (DPR) is 18.66%.

Insider Buying and Selling at CNO Financial Group

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the sale, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now owns 44,884 shares of the company’s stock, valued at $1,565,553.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Royal Bank of Canada upped their target price on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of CNO Financial Group from $27.00 to $29.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 target price on shares of CNO Financial Group in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.75.

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.