AQR Capital Management LLC Decreases Holdings in CNO Financial Group Inc (CNO)

AQR Capital Management LLC cut its position in shares of CNO Financial Group Inc (NYSE:CNO) by 36.8% during the 3rd quarter, according to its …

CNO Financial Group logoAQR Capital Management LLC cut its position in shares of CNO Financial Group Inc (NYSE:CNO) by 36.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,317,306 shares of the financial services provider’s stock after selling 768,238 shares during the quarter. AQR Capital Management LLC owned approximately 0.80% of CNO Financial Group worth $27,953,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CNO. Raymond James Financial Services Advisors Inc. purchased a new position in CNO Financial Group during the second quarter valued at $264,000. Sei Investments Co. grew its holdings in CNO Financial Group by 5,452.8% during the second quarter. Sei Investments Co. now owns 96,729 shares of the financial services provider’s stock valued at $1,842,000 after purchasing an additional 94,987 shares during the period. Arizona State Retirement System grew its holdings in CNO Financial Group by 3.0% during the second quarter. Arizona State Retirement System now owns 116,192 shares of the financial services provider’s stock valued at $2,212,000 after purchasing an additional 3,346 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in CNO Financial Group by 14.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,812,715 shares of the financial services provider’s stock valued at $34,515,000 after purchasing an additional 233,457 shares during the period. Finally, American Century Companies Inc. grew its holdings in CNO Financial Group by 2.1% during the second quarter. American Century Companies Inc. now owns 365,731 shares of the financial services provider’s stock valued at $6,964,000 after purchasing an additional 7,684 shares during the period. Hedge funds and other institutional investors own 94.23% of the company’s stock.

Shares of NYSE:CNO traded up $0.06 on Friday, reaching $16.56. The company’s stock had a trading volume of 1,129,500 shares, compared to its average volume of 1,404,387. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.26 and a current ratio of 0.26. CNO Financial Group Inc has a 52-week low of $13.64 and a 52-week high of $26.47. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.20 and a beta of 1.22.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $999.03 million. CNO Financial Group had a negative net margin of 8.95% and a positive return on equity of 7.89%. The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, research analysts forecast that CNO Financial Group Inc will post 1.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 24th. Investors of record on Monday, December 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, December 7th. CNO Financial Group’s payout ratio is 19.80%.

CNO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, January 3rd. TheStreet cut CNO Financial Group from a “b” rating to a “c” rating in a research note on Thursday, November 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $22.00 target price on shares of CNO Financial Group in a research report on Monday, December 17th. Evercore ISI upgraded CNO Financial Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, ValuEngine upgraded CNO Financial Group from a “strong sell” rating to a “sell” rating in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. CNO Financial Group currently has an average rating of “Hold” and an average target price of $21.75.

In other news, EVP Matthew J. Zimpfer sold 17,417 shares of CNO Financial Group stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $18.46, for a total value of $321,517.82. Following the transaction, the executive vice president now owns 137,580 shares of the company’s stock, valued at approximately $2,539,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen N. David bought 2,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was purchased at an average cost of $18.50 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now owns 19,706 shares of the company’s stock, valued at $364,561. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

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CNO Financial Group Profile

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: Systematic Risk

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

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