Schwab Charles Investment Management Inc. Raises Stake in CNO Financial Group, Inc. (NYSE:CNO)

Schwab Charles Investment Management Inc. raised its stake in shares of CNO Financial Group, Inc. (NYSE:CNO) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,178,473 shares of the financial services provider’s stock after buying an additional 185,566 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.69% of CNO Financial Group worth $24,159,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Invictus RG boosted its position in shares of CNO Financial Group by 1,843.9% in the first quarter. Invictus RG now owns 16,756 shares of the financial services provider’s stock valued at $343,000 after buying an additional 15,894 shares in the last quarter. BlackRock Inc. boosted its position in shares of CNO Financial Group by 13,916.4% in the first quarter. BlackRock Inc. now owns 16,909,850 shares of the financial services provider’s stock valued at $346,652,000 after buying an additional 16,789,207 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of CNO Financial Group by 197.6% in the first quarter. New York State Teachers Retirement System now owns 12,200 shares of the financial services provider’s stock valued at $250,000 after buying an additional 8,100 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of CNO Financial Group by 97.1% in the first quarter. Renaissance Technologies LLC now owns 407,700 shares of the financial services provider’s stock valued at $8,358,000 after buying an additional 200,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CNO Financial Group by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,338,922 shares of the financial services provider’s stock valued at $27,447,000 after buying an additional 70,880 shares in the last quarter. Hedge funds and other institutional investors own 94.77% of the company’s stock.

Shares of CNO Financial Group, Inc. (CNO) traded down 0.18% during midday trading on Friday, reaching $22.77. 1,168,314 shares of the company were exchanged. The company has a market capitalization of $3.85 billion, a PE ratio of 9.96 and a beta of 1.20. CNO Financial Group, Inc. has a 52-week low of $14.30 and a 52-week high of $23.67. The firm’s 50 day moving average is $21.01 and its 200-day moving average is $20.55.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. CNO Financial Group had a return on equity of 5.74% and a net margin of 9.61%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts forecast that CNO Financial Group, Inc. will post $1.55 earnings per share for the current fiscal year.

CNO Financial Group announced that its board has approved a share repurchase plan on Wednesday, May 10th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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Several brokerages have issued reports on CNO. BidaskClub raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research cut shares of CNO Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. FBR & Co reaffirmed an “outperform” rating and set a $23.00 price target on shares of CNO Financial Group in a research note on Wednesday, May 31st. Wells Fargo & Company reaffirmed a “hold” rating on shares of CNO Financial Group in a research note on Monday, June 5th. Finally, ValuEngine raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.00.

About CNO Financial Group

CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.

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

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