CNO Financial Group (NYSE:CNO) Hits New 12-Month High After Earnings Beat

CNO Financial Group, Inc. (NYSE:CNO)’s share price hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $36.85 and last traded at $36.85, with a volume of 126432 shares traded. The stock had previously closed at $34.40.

The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.27. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a return on equity of 18.30% and a net margin of 9.96%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share.

CNO Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were given a $0.16 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 1.78%. CNO Financial Group’s dividend payout ratio is presently 16.62%.

Analyst Ratings Changes

Several research firms recently issued reports on CNO. Evercore ISI boosted their target price on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Royal Bank of Canada raised their target price on CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler upped their price target on CNO Financial Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

Insider Buying and Selling

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now owns 37,663 shares in the company, valued at approximately $1,290,334.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total value of $186,203.10. Following the transaction, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the transaction, the insider now owns 44,884 shares in the company, valued at approximately $1,565,553.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Institutional Trading of CNO Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL grew its holdings in shares of CNO Financial Group by 2.1% in the first quarter. Blair William & Co. IL now owns 19,189 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 399 shares during the period. State of Alaska Department of Revenue grew its stake in shares of CNO Financial Group by 3.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,290 shares of the financial services provider’s stock valued at $431,000 after buying an additional 415 shares during the period. CWM LLC increased its holdings in shares of CNO Financial Group by 64.1% during the 2nd quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $32,000 after buying an additional 447 shares during the last quarter. Blue Trust Inc. raised its position in shares of CNO Financial Group by 25.4% during the 2nd quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider’s stock valued at $66,000 after buying an additional 483 shares during the period. Finally, Point72 Hong Kong Ltd lifted its holdings in CNO Financial Group by 1.8% in the second quarter. Point72 Hong Kong Ltd now owns 28,700 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 511 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.

CNO Financial Group Stock Up 4.4 %

The firm has a 50-day moving average of $34.55 and a two-hundred day moving average of $30.87. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $3.80 billion, a PE ratio of 9.33 and a beta of 1.01.

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.