CNO Financial Group (NYSE:CNO) Announces Earnings Results

CNO Financial Group (NYSE:CNO) announced its quarterly earnings results on Thursday. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. CNO Financial Group’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS.

CNO Financial Group Trading Up 4.4 %

Shares of CNO stock traded up $1.52 during trading hours 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 12-month low of $23.17 and a 12-month high of $36.95. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $34.55 and its 200-day moving average price is $30.87. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 9.33 and a beta of 1.01.

CNO Financial Group Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of CNO Financial Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at approximately $1,290,334.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of CNO Financial Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the transaction, the insider now directly owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. This 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About CNO Financial Group

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.