CNO Financial Group (NYSE:CNO) Issues Earnings Results, Beats Expectations By $0.25 EPS

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

CNO Financial Group Stock Performance

CNO stock opened at $39.92 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. CNO Financial Group has a 1-year low of $24.92 and a 1-year high of $40.91. The business has a 50-day moving average price of $38.22 and a 200 day moving average price of $36.00. The company has a market capitalization of $4.12 billion, a P/E ratio of 16.10 and a beta of 1.04.

CNO Financial Group Announces Dividend

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

Insider Buying and Selling at CNO Financial Group

In other news, insider Jeremy David Williams sold 4,783 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares of the company’s stock, valued at approximately $2,490,430.89. The trade was a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Eric R. Johnson sold 3,978 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the transaction, the executive now owns 631,844 shares of the company’s stock, valued at $24,698,781.96. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,745 shares of company stock valued at $572,467. Company insiders own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

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

About CNO Financial Group

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.