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

CNO Financial Group (NYSE:CNO) announced its quarterly earnings data 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. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $929.99 million. CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share.

CNO Financial Group Stock Up 8.6 %

Shares of NYSE:CNO traded up $2.68 during trading on Tuesday, hitting $33.68. 246,447 shares of the company’s stock traded hands, compared to its average volume of 733,717. CNO Financial Group has a 52 week low of $22.27 and a 52 week high of $33.73. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.41. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 9.04 and a beta of 1.04. The company 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.15. CNO Financial Group’s payout ratio is 18.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on CNO Financial Group from $30.00 to $31.00 and gave the stock 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, Piper Sandler raised their target price on CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.60.

Insider Activity

In other news, insider Yvonne K. Franzese sold 15,021 shares of CNO Financial Group 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 in the company, valued at approximately $893,010.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CNO Financial Group news, insider Yvonne K. Franzese sold 15,021 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.25, for a total value of $424,343.25. Following the sale, the insider now owns 31,611 shares in the company, valued at approximately $893,010.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Rocco F. Tarasi III sold 3,197 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.00, for a total value of $89,516.00. Following the completion of the sale, the chief marketing officer now owns 84,880 shares in the company, valued at approximately $2,376,640. The disclosure for this sale can be found here. Insiders have sold 34,421 shares of company stock worth $975,861 in the last 90 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.