CNO Financial Group (NYSE:CNO) Posts Earnings Results, Beats Estimates By $0.33 EPS

CNO Financial Group (NYSE:CNO) announced its quarterly earnings data on Monday. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.33, Zacks reports. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $929.99 million. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.88%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share.

CNO Financial Group Price Performance

Shares of NYSE CNO traded up $0.55 during mid-day trading on Wednesday, hitting $34.87. 1,045,640 shares of the stock were exchanged, compared to its average volume of 743,669. CNO Financial Group has a twelve month low of $22.27 and a twelve month high of $35.23. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.18 and a current ratio of 0.18. The stock’s fifty day simple moving average is $28.51 and its two-hundred day simple moving average is $27.53. The company has a market cap of $3.78 billion, a P/E ratio of 10.16 and a beta of 1.04.

CNO Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s dividend payout ratio is 18.66%.

Insider Activity

In other news, insider Yvonne K. Franzese sold 15,021 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.25, for a total transaction of $424,343.25. Following the sale, the insider now directly owns 31,611 shares of the company’s stock, valued at $893,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CNO Financial Group news, insider Yvonne K. Franzese sold 15,021 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.25, for a total value of $424,343.25. Following the transaction, the insider now directly owns 31,611 shares of the company’s stock, valued at $893,010.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Rocco F. Tarasi III sold 3,197 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.00, for a total transaction of $89,516.00. Following the completion of the transaction, the chief marketing officer now directly owns 84,880 shares in the company, valued at $2,376,640. The disclosure for this sale can be found here. Insiders have sold 34,421 shares of company stock valued at $975,861 over the last three months. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNO shares. Evercore ISI upped their price objective on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of CNO Financial Group from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Piper Sandler upped their price objective on shares of CNO Financial Group from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. StockNews.com lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada increased their price target on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, CNO Financial Group has an average rating of “Hold” and a consensus target price of $30.60.

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.