CNO Financial Group (NYSE:CNO) Sets New 12-Month High on Earnings Beat

CNO Financial Group, Inc. (NYSE:CNO)’s stock price hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $44.36 and last traded at $43.76, with a volume of 204336 shares changing hands. The stock had previously closed at $42.31.

The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. CNO Financial Group had a net margin of 6.64% and a return on equity of 15.81%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. CNO Financial Group’s revenue was up 4.2% compared to the same quarter last year.

CNO Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. CNO Financial Group’s payout ratio is presently 23.78%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNO. Weiss Ratings reiterated a “buy (b)” rating on shares of CNO Financial Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their target price on shares of CNO Financial Group from $44.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $42.00 to $47.00 in a report on Monday, December 15th. Finally, Piper Sandler lifted their target price on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Insiders Place Their Bets

In related news, CMO Rocco F. Tarasi III sold 9,283 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $42.60, for a total transaction of $395,455.80. Following the sale, the chief marketing officer owned 73,932 shares of the company’s stock, valued at approximately $3,149,503.20. This trade represents a 11.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Eric R. Johnson sold 48,665 shares of CNO Financial Group stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $41.24, for a total value of $2,006,944.60. Following the transaction, the executive owned 671,542 shares in the company, valued at approximately $27,694,392.08. This represents a 6.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 89,378 shares of company stock worth $3,722,146. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

A number of hedge funds have recently modified their holdings of CNO. American Century Companies Inc. raised its holdings in CNO Financial Group by 6.2% during the second quarter. American Century Companies Inc. now owns 3,121,527 shares of the financial services provider’s stock worth $120,429,000 after acquiring an additional 183,493 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of CNO Financial Group during the 3rd quarter worth approximately $1,077,000. AlphaQuest LLC bought a new stake in shares of CNO Financial Group during the 3rd quarter worth approximately $3,057,000. Boston Partners boosted its holdings in shares of CNO Financial Group by 141.1% in the 2nd quarter. Boston Partners now owns 86,148 shares of the financial services provider’s stock valued at $3,324,000 after buying an additional 50,411 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of CNO Financial Group by 70.9% in the second quarter. Allianz Asset Management GmbH now owns 1,546,745 shares of the financial services provider’s stock valued at $59,673,000 after buying an additional 641,950 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Stock Performance

The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.34 and a beta of 0.84. The stock’s fifty day moving average is $42.04 and its two-hundred day moving average is $40.18. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.45.

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.