CNO Financial Group (NYSE:CNO) Announces Quarterly Earnings Results, Hits Estimates

CNO Financial Group (NYSE:CNO - Get Free Report) posted its earnings results on Monday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79, Zacks reports. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $975.80 million. CNO Financial Group had a return on equity of 17.20% and a net margin of 9.08%. The firm's quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share.

CNO Financial Group Stock Performance

Shares of NYSE CNO traded up $1.10 during mid-day trading on Friday, hitting $38.22. The stock had a trading volume of 732,305 shares, compared to its average volume of 712,186. The firm has a market cap of $3.83 billion, a PE ratio of 10.22 and a beta of 0.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.19 and a current ratio of 0.22. The company has a 50 day moving average of $39.54 and a two-hundred day moving average of $38.78. CNO Financial Group has a twelve month low of $26.36 and a twelve month high of $43.20.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.17 per share. This is a positive change from CNO Financial Group's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.78%. CNO Financial Group's payout ratio is 22.38%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Piper Sandler upped their price target on CNO Financial Group from $46.00 to $49.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets started coverage on CNO Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $38.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on CNO Financial Group from $42.00 to $44.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, CNO Financial Group currently has a consensus rating of "Hold" and an average target price of $41.00.

Insiders Place Their Bets

In other news, insider Jeremy David Williams sold 11,300 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $41.51, for a total value of $469,063.00. Following the sale, the insider now directly owns 65,299 shares of the company's stock, valued at $2,710,561.49. This represents a 14.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yvonne K. Franzese sold 2,097 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $42.56, for a total transaction of $89,248.32. Following the transaction, the insider now directly owns 30,321 shares of the company's stock, valued at approximately $1,290,461.76. This trade represents a 6.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,512 shares of company stock valued at $6,497,710. 3.38% of the stock is owned by company insiders.

CNO Financial Group Company Profile

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.