CNO Financial Group (NYSE:CNO) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

CNO Financial Group (NYSE:CNO) posted its earnings results on Thursday. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11, FiscalAI reports. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share.

CNO Financial Group Stock Down 0.5%

CNO stock traded down $0.24 on Thursday, reaching $44.42. 627,529 shares of the company traded hands, compared to its average volume of 575,299. The firm has a fifty day simple moving average of $41.91 and a 200-day simple moving average of $41.64. The company has a market cap of $4.16 billion, a P/E ratio of 19.92 and a beta of 0.83. CNO Financial Group has a one year low of $35.24 and a one year high of $44.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 10th. CNO Financial Group’s dividend payout ratio (DPR) is 30.49%.

Insider Buying and Selling

In other news, CEO Gary C. Bhojwani sold 43,021 shares of CNO Financial Group stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total value of $1,852,054.05. Following the completion of the transaction, the chief executive officer owned 277,526 shares of the company’s stock, valued at $11,947,494.30. The trade was a 13.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Matthew J. Zimpfer sold 33,800 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,455,090.00. Following the completion of the transaction, the general counsel owned 307,937 shares in the company, valued at approximately $13,256,687.85. The trade was a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 196,778 shares of company stock valued at $8,442,863. 3.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of CNO Financial Group by 123.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,176 shares of the financial services provider’s stock worth $45,000 after buying an additional 649 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of CNO Financial Group by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,194 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 336 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,243 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in CNO Financial Group by 248.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,587 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 1,844 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in CNO Financial Group in the 4th quarter valued at approximately $139,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore reissued an “underperform” rating and issued a $43.00 price target on shares of CNO Financial Group in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $46.00 price objective on shares of CNO Financial Group in a research report on Thursday, March 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Monday, April 20th. Finally, Wall Street Zen cut CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.50.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.