CNO Financial Group (NYSE:CNO) Posts Earnings Results, Beats Expectations By $0.29 EPS

CNO Financial Group (NYSE:CNO) released its earnings results on Thursday. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29, Briefing.com reports. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 18.19%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS.

CNO Financial Group Price Performance

CNO opened at $35.92 on Monday. The company’s 50-day simple moving average is $34.55 and its two-hundred day simple moving average is $30.91. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market capitalization of $3.80 billion, a P/E ratio of 14.48 and a beta of 1.01. CNO Financial Group has a 52-week low of $23.17 and a 52-week high of $36.95.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 10th. CNO Financial Group’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CNO shares. Evercore ISI increased their price objective on CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Piper Sandler increased their price target on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted 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 report on Monday, July 8th. Finally, Royal Bank of Canada upped their price objective on shares of CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

Insider Activity at CNO Financial Group

In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the sale, the insider now owns 37,663 shares in the company, valued at approximately $1,290,334.38. This represents a 0.00 % decrease in their ownership of the stock. 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 Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the 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 of the company’s stock, valued at $1,565,553.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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.