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

CNO Financial Group (NYSE:CNO) posted its earnings results 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 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 quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock opened at $26.89 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average is $26.61 and its two-hundred day moving average is $26.33. CNO Financial Group has a 52 week low of $19.95 and a 52 week high of $28.39. The company has a market capitalization of $2.93 billion, a PE ratio of 11.16 and a beta of 1.03.

CNO Financial Group Dividend Announcement

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

Insider Transactions at CNO Financial Group

In related news, insider Karen Detoro sold 2,778 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $27.10, for a total value of $75,283.80. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. In other CNO Financial Group news, CMO Rocco F. Tarasi III sold 3,000 shares of CNO Financial Group stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $27.50, for a total transaction of $82,500.00. Following the completion of the sale, the chief marketing officer now directly owns 88,077 shares of the company’s stock, valued at approximately $2,422,117.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karen Detoro sold 2,778 shares of the stock in a transaction 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 transaction, the insider now directly owns 69,605 shares in the company, valued at approximately $1,886,295.50. 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 Ratings Changes

A number of research firms have issued reports on CNO. Royal Bank of Canada lifted their price objective on CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Piper Sandler raised shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a research note on Tuesday, April 16th. StockNews.com lowered CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Evercore ISI upped their price objective on CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Wednesday, February 28th. One research 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’s stock. Based on data from MarketBeat, CNO Financial Group currently 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.