CNO Financial Group (NYSE:CNO) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

CNO Financial Group (NYSE:CNO) released its quarterly earnings data on Monday. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12), Briefing.com reports. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $935.76 million. CNO Financial Group had a net margin of 6.67% and a return on equity of 17.51%. CNO Financial Group’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS.

CNO Financial Group Price Performance

Shares of NYSE CNO opened at $26.89 on Tuesday. CNO Financial Group has a fifty-two week low of $19.95 and a fifty-two week high of $28.39. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.16 and a beta of 1.03. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The business has a 50-day moving average of $26.61 and a 200-day moving average of $26.33.

CNO Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.60 annualized dividend and a yield of 2.23%. CNO Financial Group’s dividend payout ratio (DPR) is presently 24.90%.

Insider Buying and Selling

In other news, insider Karen Detoro sold 2,778 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $27.10, for a total value of $75,283.80. Following the completion of the sale, the insider now owns 69,605 shares of the company’s stock, valued at approximately $1,886,295.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Karen Detoro sold 2,778 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $27.10, for a total transaction of $75,283.80. Following the transaction, the insider now directly owns 69,605 shares in the company, valued at approximately $1,886,295.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew J. Zimpfer sold 3,220 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $26.76, for a total transaction of $86,167.20. Following the completion of the sale, the executive vice president now directly owns 278,997 shares in the company, valued at $7,465,959.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,590 shares of company stock worth $4,116,255. Corporate insiders own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

CNO has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Wednesday, February 28th. Piper Sandler raised shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research report on Tuesday, April 16th. StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada lifted their price target on CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.50.

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.