CNO Financial Group (NYSE:CNO) Issues Quarterly Earnings Results, Beats Expectations By $0.25 EPS

CNO Financial Group (NYSE:CNO) released its earnings results on Thursday. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25, Zacks reports. CNO Financial Group had a net margin of 9.08% and a return on equity of 17.21%.

CNO Financial Group Stock Up 2.6 %

Shares of NYSE:CNO opened at $41.07 on Friday. CNO Financial Group has a 1 year low of $24.92 and a 1 year high of $41.54. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The stock’s 50-day moving average is $38.24 and its 200 day moving average is $36.07. The company has a market cap of $4.24 billion, a PE ratio of 10.98 and a beta of 1.04.

CNO Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 10th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.56%. CNO Financial Group’s dividend payout ratio is currently 17.11%.

Insider Activity

In other news, insider Jeremy David Williams sold 4,783 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the transaction, the insider now owns 62,121 shares in the company, valued at $2,490,430.89. The trade was a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Rocco F. Tarasi III sold 4,500 shares of CNO Financial Group stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.51, for a total transaction of $168,795.00. Following the completion of the sale, the chief marketing officer now owns 72,896 shares of the company’s stock, valued at $2,734,328.96. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,745 shares of company stock valued at $572,467. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CNO shares. Royal Bank of Canada increased their price objective on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group upped their target price on CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of CNO Financial Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, BMO Capital Markets assumed coverage on shares of CNO Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.17.

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.