CNO Financial Group (NYSE:CNO) Issues Earnings Results

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

CNO Financial Group Price Performance

Shares of CNO stock traded up $0.39 during trading hours on Wednesday, reaching $34.71. The company had a trading volume of 284,941 shares, compared to its average volume of 738,458. 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 has a fifty day moving average of $28.51 and a 200-day moving average of $27.53. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 10.11 and a beta of 1.04. CNO Financial Group has a 12-month low of $22.27 and a 12-month high of $34.98.

CNO Financial Group Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other CNO Financial Group news, insider Yvonne K. Franzese sold 15,021 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.25, for a total transaction of $424,343.25. Following the transaction, the insider now directly owns 31,611 shares in the company, valued at $893,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 dated Thursday, May 9th. The stock was sold at an average price of $28.25, for a total transaction of $424,343.25. Following the transaction, the insider now owns 31,611 shares of the company’s stock, valued at $893,010.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Rocco F. Tarasi III sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.50, for a total value of $99,750.00. Following the transaction, the chief marketing officer now directly owns 81,380 shares in the company, valued at approximately $2,319,330. The disclosure for this sale can be found here. Insiders sold 34,421 shares of company stock worth $975,861 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

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.