Huber Capital Management Lowers stake in CNO Financial Group Inc (CNO)

CNO Financial Group Inc (CNO) : Huber Capital Management reduced its stake in CNO Financial Group Inc by 8.46% during the most recent quarter end. The investment management company now holds a total of 7,444,639 shares of CNO Financial Group Inc which is valued at $141.4 Million after selling 688,176 shares in CNO Financial Group Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.CNO Financial Group Inc makes up approximately 5.62% of Huber Capital Management’s portfolio.

Other Hedge Funds, Including , Canada Pension Plan Investment Board reduced its stake in CNO by selling 3,300 shares or 21.02% in the most recent quarter. The Hedge Fund company now holds 12,400 shares of CNO which is valued at $235,476.Gmt Capital Corp reduced its stake in CNO by selling 598,000 shares or 39.36% in the most recent quarter. The Hedge Fund company now holds 921,200 shares of CNO which is valued at $17.5 Million. CNO Financial Group Inc makes up approx 0.44% of Gmt Capital Corp’s portfolio. Finemark National Bank Trust sold out all of its stake in CNO during the most recent quarter. The investment firm sold 220 shares of CNO which is valued $4,178. Engineers Gate Manager Lp added CNO to its portfolio by purchasing 103,844 company shares during the most recent quarter which is valued at $2 Million. CNO Financial Group Inc makes up approx 0.16% of Engineers Gate Manager Lp’s portfolio.Fiduciary Management Associates reduced its stake in CNO by selling 131,120 shares or 9.46% in the most recent quarter. The Hedge Fund company now holds 1,254,960 shares of CNO which is valued at $23.5 Million. CNO Financial Group Inc makes up approx 1.55% of Fiduciary Management Associates’s portfolio.

CNO Financial Group Inc opened for trading at $19.47 and hit $19.75 on the upside on Friday, eventually ending the session at $19.61, with a gain of 1.34% or 0.26 points. The heightened volatility saw the trading volume jump to 9,92,067 shares. Company has a market cap of $3,512 M.

On the company’s financial health, CNO Financial Group Inc reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.32. The company had revenue of $960.40 million for the quarter, compared to analysts expectations of $971.07 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on CNO Financial Group Inc. Company shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $19 .

CNO Financial Group Inc. is a holding company for a group of insurance companies operating throughout the United States that develop market and administer health insurance annuity individual life insurance and other insurance products. The Company manages its business through three operating segments: Bankers Life Washington National and Colonial Penn. Bankers Life markets and distributes Medicare supplement insurance interest-sensitive life insurance traditional life insurance fixed annuities and long-term care insurance products. Washington National markets and distributes supplemental health including specified disease accident and hospital indemnity insurance products and life insurance. Colonial Penn markets primarily graded benefit and simplified issue life insurance.

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