CNO Financial Group (NYSE:CNO) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

CNO Financial Group (NYSE:CNO) posted its earnings results on Thursday. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.27, Briefing.com reports. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. CNO Financial Group’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share.

CNO Financial Group Price Performance

Shares of CNO Financial Group stock traded up $1.52 on Friday, hitting $35.92. 1,066,339 shares of the company traded hands, compared to its average volume of 740,946. CNO Financial Group has a 52 week low of $23.17 and a 52 week high of $36.95. The business has a 50-day simple moving average of $34.55 and a 200 day simple moving average of $30.87. 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 9.33 and a beta of 1.01.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were paid a $0.16 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.78%. CNO Financial Group’s payout ratio is 16.62%.

Insider Buying and Selling

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the sale, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the completion of the transaction, the insider now directly owns 44,884 shares of the company’s stock, valued at approximately $1,565,553.92. This trade 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 company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CNO shares. Royal Bank of Canada lifted their target price on CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price objective on 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. Piper Sandler raised their target price on shares of CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI lifted their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.00.

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.