CNO Financial Group (NYSE:CNO) Issues Earnings Results

CNO Financial Group (NYSE:CNO) released its quarterly earnings results on Monday. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.33, Zacks reports. CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $929.99 million. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year.

CNO Financial Group Trading Down 0.5 %

Shares of CNO Financial Group stock opened at $31.00 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.18 and a quick ratio of 0.18. CNO Financial Group has a 1 year low of $22.27 and a 1 year high of $31.30. The company has a market capitalization of $3.36 billion, a P/E ratio of 9.04 and a beta of 1.04. The business has a 50 day moving average price of $28.40 and a 200 day moving average price of $27.48.

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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 10th. CNO Financial Group’s dividend payout ratio (DPR) is presently 18.66%.

Analyst Upgrades and Downgrades

CNO has been the topic of a number of research reports. Piper Sandler upped their price target on CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods raised their price target on 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. Finally, StockNews.com lowered CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.60.

Insiders Place Their Bets

In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of CNO Financial Group stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the sale, 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 can be accessed through this hyperlink. In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of CNO Financial Group stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.85, for a total value of $144,625.05. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, CMO Rocco F. Tarasi III sold 3,197 shares of CNO Financial Group stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.00, for a total transaction of $89,516.00. Following the completion of the sale, the chief marketing officer now directly owns 84,880 shares of the company’s stock, valued at $2,376,640. The disclosure for this sale can be found here. In the last three months, insiders sold 34,421 shares of company stock valued at $975,861. Company 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.