2,404,373 Shares in CNO Financial Group Inc (CNO) Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC purchased a new position in CNO Financial Group Inc (NYSE:CNO) in the 1st quarter, Holdings Channel reports. The fund purchased 2,404,373 shares of the financial services provider’s stock, valued at approximately $38,903,000.

Several other large investors have also bought and sold shares of the business. Boston Partners raised its holdings in CNO Financial Group by 4.7% during the first quarter. Boston Partners now owns 82,912 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 3,742 shares in the last quarter. Texas Permanent School Fund raised its holdings in CNO Financial Group by 1.3% during the first quarter. Texas Permanent School Fund now owns 109,123 shares of the financial services provider’s stock worth $1,766,000 after purchasing an additional 1,379 shares in the last quarter. Comerica Bank raised its holdings in CNO Financial Group by 3.3% during the first quarter. Comerica Bank now owns 162,662 shares of the financial services provider’s stock worth $2,702,000 after purchasing an additional 5,213 shares in the last quarter. Rhumbline Advisers raised its holdings in CNO Financial Group by 0.7% during the first quarter. Rhumbline Advisers now owns 551,748 shares of the financial services provider’s stock worth $8,927,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in CNO Financial Group by 43.3% during the first quarter. Eagle Asset Management Inc. now owns 733,515 shares of the financial services provider’s stock worth $11,868,000 after purchasing an additional 221,625 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

In related news, Director Charles J. Jacklin bought 7,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $16.47 per share, with a total value of $115,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Erik M. Helding sold 11,845 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $16.08, for a total transaction of $190,467.60. Following the completion of the transaction, the chief financial officer now directly owns 78,445 shares of the company’s stock, valued at $1,261,395.60. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

NYSE CNO opened at $16.90 on Monday. The stock has a market cap of $2.71 billion, a P/E ratio of 9.23 and a beta of 1.29. CNO Financial Group Inc has a 52-week low of $13.64 and a 52-week high of $22.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.25 and a quick ratio of 0.26.

CNO Financial Group (NYSE:CNO) last posted its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $951.93 million. CNO Financial Group had a positive return on equity of 7.75% and a negative net margin of 8.03%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, sell-side analysts predict that CNO Financial Group Inc will post 2.02 EPS for the current fiscal year.

Several research analysts recently issued reports on CNO shares. Zacks Investment Research cut shares of CNO Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $21.00 price target on shares of CNO Financial Group in a report on Thursday, February 14th. Finally, ValuEngine cut shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.00.

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About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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