CNO Financial Group (NYSE:CNO) Posts Earnings Results, Beats Expectations By $0.27 EPS

CNO Financial Group (NYSE:CNO) issued its earnings results on Thursday. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.84 by $0.27, Briefing.com reports. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share.

CNO Financial Group Stock Up 4.4 %

Shares of CNO stock traded up $1.52 during midday trading on Friday, reaching $35.92. 1,066,339 shares of the stock were exchanged, compared to its average volume of 740,946. CNO Financial Group has a 1 year low of $23.17 and a 1 year high of $36.95. The firm has a market cap of $3.80 billion, a PE ratio of 9.33 and a beta of 1.01. The company’s 50 day moving average is $34.55 and its two-hundred day moving average is $30.87. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.78%. CNO Financial Group’s dividend payout ratio (DPR) is presently 16.62%.

Analyst Upgrades and Downgrades

CNO has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Evercore ISI upped their price target on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler lifted their price objective on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.00.

Insider Activity

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the sale, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

CNO Financial Group Company Profile

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.