CNO Financial Group (NYSE:CNO – Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.10 by $0.80, FiscalAI reports. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.01 billion. CNO Financial Group had a net margin of 6.02% and a return on equity of 18.76%.
CNO Financial Group Stock Up 1.6%
Shares of CNO Financial Group stock traded up $0.84 on Thursday, hitting $55.22. 651,375 shares of the company’s stock traded hands, compared to its average volume of 783,310. The stock has a market cap of $5.11 billion, a P/E ratio of 18.98 and a beta of 0.80. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.65. The firm’s 50-day moving average is $54.39 and its 200 day moving average is $48.34. CNO Financial Group has a 52-week low of $38.99 and a 52-week high of $57.59.
CNO Financial Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, September 10th. CNO Financial Group’s dividend payout ratio is 24.74%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CNO. Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of CNO Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, October 23rd. Zacks Research upgraded CNO Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Finally, Capital One Financial set a $70.00 price target on CNO Financial Group in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.
Check Out Our Latest Stock Report on CNO
Insider Transactions at CNO Financial Group
In related news, insider Jeremy Williams sold 4,362 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $55.72, for a total value of $243,050.64. Following the sale, the insider directly owned 61,041 shares of the company’s stock, valued at $3,401,204.52. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanne Linnenbringer sold 3,919 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $55.11, for a total transaction of $215,976.09. Following the completion of the sale, the insider directly owned 26,209 shares in the company, valued at $1,444,377.99. This represents a 13.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 47,995 shares of company stock valued at $2,641,336. 3.44% of the stock is currently owned by corporate insiders.
CNO Financial Group Company Profile
CNO Financial Group, Inc is a holding company for a group of insurance and financial services businesses focused on serving middle-income Americans, particularly individuals approaching or in retirement. Through its operating companies, CNO provides products designed to help customers protect income, manage health care expenses and prepare for retirement.
CNO’s principal brands include Bankers Life, Colonial Penn and Washington National. Its offerings include life insurance, annuities, supplemental health insurance, Medicare supplement insurance and other insurance products.
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