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

CNO Financial Group (NYSE:CNO) released its quarterly earnings data on Thursday. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $0.99 by $0.27, FiscalAI reports. CNO Financial Group had a return on equity of 17.65% and a net margin of 5.44%.The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $999.45 million.

CNO Financial Group Stock Up 1.1%

NYSE CNO traded up $0.57 during mid-day trading on Thursday, reaching $53.52. 674,457 shares of the company’s stock traded hands, compared to its average volume of 713,184. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.61. CNO Financial Group has a 1-year low of $35.24 and a 1-year high of $54.09. The company has a fifty day simple moving average of $50.70 and a 200-day simple moving average of $45.46. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 21.50 and a beta of 0.81.

CNO Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.18 per share. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. CNO Financial Group’s payout ratio is 28.92%.

Insider Buying and Selling

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the completion of the transaction, the chief executive officer directly owned 174,264 shares in the company, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer owned 79,191 shares of the company’s stock, valued at approximately $3,959,550. This trade represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of CNO. Merit Financial Group LLC increased its holdings in CNO Financial Group by 7.0% in the third quarter. Merit Financial Group LLC now owns 7,779 shares of the financial services provider’s stock valued at $308,000 after buying an additional 510 shares during the last quarter. Cibc World Markets Corp bought a new position in CNO Financial Group during the 4th quarter worth approximately $271,000. Oxford Asset Management LLP bought a new position in CNO Financial Group during the 4th quarter worth approximately $270,000. BTG Pactual Asset Management US LLC acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $255,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $253,000. Institutional investors own 95.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore set a $48.00 target price on CNO Financial Group and gave the company an “in-line” rating in a report on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNO Financial Group in a research report on Friday, July 17th. Jefferies Financial Group lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $53.00 to $55.00 in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CNO Financial Group from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.50.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.