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

CNO Financial Group (NYSE:CNO) announced its quarterly earnings results on Thursday. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25, Zacks reports. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%.

CNO Financial Group Trading Down 0.4 %

Shares of CNO stock traded down $0.14 during mid-day trading on Thursday, reaching $39.92. The company’s stock had a trading volume of 579,546 shares, compared to its average volume of 475,434. The company’s 50 day simple moving average is $38.22 and its 200-day simple moving average is $35.97. The firm has a market capitalization of $4.12 billion, a PE ratio of 16.10 and a beta of 1.04. CNO Financial Group has a 12-month low of $24.92 and a 12-month high of $40.91. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, December 10th. CNO Financial Group’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets began coverage on CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock. Piper Sandler lifted their price target on shares of CNO Financial Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Jefferies Financial Group boosted their target price on CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their price target on shares of CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.17.

Insider Activity at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 1,484 shares of CNO Financial Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $38.02, for a total value of $56,421.68. Following the sale, the chief marketing officer now directly owns 79,896 shares in the company, valued at $3,037,645.92. This trade represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeremy David Williams sold 4,783 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $40.09, for a total transaction of $191,750.47. Following the sale, the insider now owns 62,121 shares in the company, valued at $2,490,430.89. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,745 shares of company stock valued at $572,467. Corporate insiders own 3.21% of the company’s stock.

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.