Fifth Third Bancorp Increases Stake in CNO Financial Group, Inc. (NYSE:CNO)

Fifth Third Bancorp grew its holdings in CNO Financial Group, Inc. (NYSE:CNO) by 183.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,170 shares of the financial services provider’s stock after buying an additional 2,699 shares during the quarter. Fifth Third Bancorp’s holdings in CNO Financial Group were worth $116,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CWM LLC boosted its holdings in CNO Financial Group by 64.1% in the second quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 447 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of CNO Financial Group during the fourth quarter worth about $50,000. EntryPoint Capital LLC purchased a new stake in shares of CNO Financial Group during the first quarter worth approximately $52,000. Blue Trust Inc. raised its holdings in CNO Financial Group by 25.4% in the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 483 shares in the last quarter. Finally, Covestor Ltd lifted its stake in CNO Financial Group by 18.9% in the first quarter. Covestor Ltd now owns 3,598 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

Shares of CNO stock opened at $33.87 on Monday. The stock’s 50-day moving average is $30.17 and its two-hundred day moving average is $28.19. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.18 and a current ratio of 0.19. CNO Financial Group, Inc. has a 1 year low of $22.27 and a 1 year high of $35.45. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 9.87 and a beta of 1.04.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.33. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $929.99 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Analysts predict that CNO Financial Group, Inc. will post 3.21 earnings per share for the current year.

CNO Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.89%. CNO Financial Group’s dividend payout ratio (DPR) is presently 18.66%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Royal Bank of Canada upped their price objective on CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler raised their target price on CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.60.

Insider Activity

In related news, insider Michael E. Mead sold 7,690 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $28.30, for a total transaction of $217,627.00. Following the completion of the sale, the insider now owns 41,535 shares in the company, valued at approximately $1,175,440.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Michael E. Mead sold 7,690 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $28.30, for a total value of $217,627.00. Following the transaction, the insider now owns 41,535 shares in the company, valued at approximately $1,175,440.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael E. Mead sold 5,013 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total value of $144,625.05. Following the sale, the insider now directly owns 36,522 shares of the company’s stock, valued at $1,053,659.70. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

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.