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

CNO Financial Group (NYSE:CNO) issued its quarterly earnings results on Monday. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12), Briefing.com reports. CNO Financial Group had a net margin of 6.67% and a return on equity of 17.51%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $935.76 million. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis.

CNO Financial Group Trading Down 2.6 %

NYSE CNO traded down $0.70 on Tuesday, reaching $26.19. The company had a trading volume of 41,256 shares, compared to its average volume of 745,945. 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 52 week low of $19.95 and a 52 week high of $28.39. 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 stock’s 50 day moving average is $26.61 and its 200-day moving average is $26.33.

CNO Financial Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. CNO Financial Group’s dividend payout ratio (DPR) is presently 24.90%.

Insiders Place Their Bets

In related news, CFO Paul H. Mcdonough sold 10,828 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $26.36, for a total transaction of $285,426.08. Following the completion of the transaction, the chief financial officer now owns 192,134 shares in the company, valued at $5,064,652.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CNO Financial Group news, insider Karen Detoro sold 2,778 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $27.10, for a total value of $75,283.80. Following the completion of the transaction, the insider now directly owns 69,605 shares of the company’s stock, valued at $1,886,295.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul H. Mcdonough sold 10,828 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $26.36, for a total value of $285,426.08. Following the sale, the chief financial officer now directly owns 192,134 shares in the company, valued at approximately $5,064,652.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,590 shares of company stock worth $4,116,255. Insiders own 3.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNO shares. Piper Sandler raised CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 target price for the company in a research note on Tuesday, April 16th. Evercore ISI lifted their price objective on CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 28th. StockNews.com downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada raised their target price on shares of CNO Financial Group from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One equities research 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. According to MarketBeat, CNO Financial Group presently has a consensus rating of “Hold” and a consensus target price 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.