CNO Financial Group (NYSE:CNO) Issues Quarterly Earnings Results

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

CNO Financial Group Price Performance

NYSE:CNO traded up $1.52 during trading hours on Friday, reaching $35.92. 1,049,320 shares of the company were exchanged, compared to its average volume of 740,943. 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 firm has a market cap of $3.80 billion, a PE ratio of 9.59 and a beta of 1.01. CNO Financial Group has a twelve month low of $23.17 and a twelve month high of $36.95. The stock’s 50-day moving average is $34.48 and its 200-day moving average is $30.77.

CNO Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.78%. CNO Financial Group’s dividend payout ratio is currently 16.62%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Evercore ISI lifted 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. Keefe, Bruyette & Woods lifted their target price 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 increased their price target 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 lifted their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.00.

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.