CNO Financial Group (NYSE:CNO) Issues Quarterly Earnings Results

by · The Cerbat Gem

CNO Financial Group (NYSE:CNO – Get Free Report) issued its earnings results on Thursday. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.27, Briefing.com reports. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS.

CNO Financial Group Stock Up 4.4 %

CNO stock traded up $1.52 on Friday, hitting $35.92. 1,049,320 shares of the company’s stock were exchanged, compared to its average volume of 740,943. The firm has a 50 day moving average price of $34.48 and a two-hundred day moving average price of $30.77. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19. CNO Financial Group has a 12-month low of $23.17 and a 12-month high of $36.95. The stock has a market cap of $3.80 billion, a P/E ratio of 9.59 and a beta of 1.01.

CNO Financial Group Announces Dividend

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

Insiders Place Their Bets

In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the transaction, the insider now directly owns 44,884 shares in the company, valued at $1,565,553.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the company’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

CNO has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective 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. Piper Sandler lifted their price objective on CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their target price on shares of CNO Financial Group from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Evercore ISI lifted their price target on 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.00.

Check Out Our Latest Report on CNO Financial Group

About CNO Financial Group

(Get Free Report)

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.

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