CNO Financial Group (NYSE:CNO) Issues Earnings Results, Misses Expectations By $0.12 EPS

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

CNO Financial Group Trading Down 2.6 %

Shares of CNO stock traded down $0.70 during mid-day trading on Tuesday, hitting $26.19. 41,256 shares of the company’s stock were exchanged, compared to its average volume of 745,945. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 11.16 and a beta of 1.03. 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 has a fifty-two week low of $19.95 and a fifty-two week high of $28.39. The stock has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $26.33.

CNO Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.15 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.60 annualized dividend and a yield of 2.29%. CNO Financial Group’s dividend payout ratio (DPR) is presently 24.90%.

Insider Activity at CNO Financial Group

In other news, CEO Gary C. Bhojwani sold 18,692 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $27.52, for a total transaction of $514,403.84. Following the completion of the transaction, the chief executive officer now owns 314,002 shares of the company’s stock, valued at approximately $8,641,335.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Gary C. Bhojwani sold 18,692 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $27.52, for a total transaction of $514,403.84. Following the completion of the sale, the chief executive officer now directly owns 314,002 shares of the company’s stock, valued at approximately $8,641,335.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul H. Mcdonough sold 10,828 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $26.36, for a total value of $285,426.08. Following the completion of the transaction, the chief financial officer now directly owns 192,134 shares in the company, valued at $5,064,652.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,590 shares of company stock worth $4,116,255. 3.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CNO has been the subject of a number of research analyst reports. StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 target price for the company in a research report on Tuesday, April 16th. Evercore ISI increased their price target on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada raised their price objective on shares of CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.