CNO Financial Group (NYSE:CNO) Issues Earnings Results, Beats Expectations By $0.33 EPS

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

CNO Financial Group Trading Up 0.9 %

CNO Financial Group stock traded up $0.31 during midday trading on Wednesday, reaching $34.63. The stock had a trading volume of 11,948 shares, compared to its average volume of 736,589. The stock has a market capitalization of $3.75 billion, a PE ratio of 10.01 and a beta of 1.04. 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 50-day simple moving average is $28.51 and its 200 day simple moving average is $27.53. CNO Financial Group has a twelve month low of $22.27 and a twelve month high of $34.98.

CNO Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.16 dividend. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, June 10th. CNO Financial Group’s dividend payout ratio (DPR) is 18.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNO shares. 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 note 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, Piper Sandler upped their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.60.

Insider Transactions at CNO Financial Group

In related 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 completion of the sale, the insider now owns 31,611 shares of the company’s stock, valued at approximately $893,010.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Michael E. Mead sold 5,013 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.85, for a total transaction of $144,625.05. Following the transaction, the insider now directly owns 36,522 shares of the company’s stock, valued at approximately $1,053,659.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yvonne K. Franzese sold 15,021 shares of CNO Financial Group 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 owns 31,611 shares in the company, valued at approximately $893,010.75. The disclosure for this sale can be found here. Insiders have sold a total of 34,421 shares of company stock worth $975,861 in the last three months. 3.00% of the stock is currently owned by company insiders.

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.