CNO Financial Group (NYSE:CNO) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

CNO Financial Group (NYSE:CNO) issued its quarterly earnings results on Monday. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.12), Briefing.com reports. CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $935.76 million. During the same period in the prior year, the business earned $0.51 earnings per share. CNO Financial Group’s revenue for the quarter was up 15.0% compared to the same quarter last year.

CNO Financial Group Trading Up 1.4 %

Shares of CNO stock opened at $26.71 on Thursday. CNO Financial Group has a fifty-two week low of $19.95 and a fifty-two week high of $28.39. The stock has a market cap of $2.91 billion, a P/E ratio of 7.79 and a beta of 1.03. The business has a fifty day simple moving average of $26.60 and a 200-day simple moving average of $26.35. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 1.41.

CNO Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, March 7th. CNO Financial Group’s dividend payout ratio is currently 17.49%.

Insider Activity

In other news, EVP Matthew J. Zimpfer sold 3,220 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $26.76, for a total value of $86,167.20. Following the completion of the transaction, the executive vice president now owns 278,997 shares in the company, valued at $7,465,959.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Gary C. Bhojwani sold 20,200 shares of CNO Financial Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.31, for a total transaction of $551,662.00. Following the completion of the sale, the chief executive officer now owns 293,802 shares in the company, valued at approximately $8,023,732.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matthew J. Zimpfer sold 3,220 shares of CNO Financial Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $26.76, for a total value of $86,167.20. Following the sale, the executive vice president now owns 278,997 shares of the company’s stock, valued at approximately $7,465,959.72. The disclosure for this sale can be found here. Insiders sold a total of 152,590 shares of company stock worth $4,116,255 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNO. StockNews.com downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Piper Sandler upgraded CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective for the company in a research report on Tuesday, April 16th. Evercore ISI increased their price objective on CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price objective on CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.50.

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.