CNO Financial Group (NYSE:CNO) Sets New 1-Year High on Strong Earnings

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report)'s stock price reached a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $36.85 and last traded at $36.85, with a volume of 126432 shares trading hands. The stock had previously closed at $34.40.

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

CNO Financial Group Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.78%. CNO Financial Group's dividend payout ratio is currently 16.62%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Jeanne L. Linnenbringer sold 5,364 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total transaction of $187,096.32. Following the completion of the sale, the insider now directly owns 44,884 shares of the company's stock, valued at $1,565,553.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the transaction, the insider now owns 37,663 shares of the company's stock, valued at $1,290,334.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total transaction of $187,096.32. Following the transaction, the insider now owns 44,884 shares in the company, valued at approximately $1,565,553.92. The trade was 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 currently owned by corporate insiders.

Hedge Funds Weigh In On CNO Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNO. CWM LLC increased its position in shares of CNO Financial Group by 64.1% during the second quarter. CWM LLC now owns 1,144 shares of the financial services provider's stock worth $32,000 after acquiring an additional 447 shares in the last quarter. Quarry LP increased its holdings in CNO Financial Group by 123.2% during the 2nd quarter. Quarry LP now owns 1,694 shares of the financial services provider's stock worth $47,000 after purchasing an additional 935 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CNO Financial Group in the 1st quarter valued at about $52,000. Blue Trust Inc. lifted its holdings in shares of CNO Financial Group by 25.4% in the second quarter. Blue Trust Inc. now owns 2,384 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 483 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CNO Financial Group by 141.8% during the third quarter. GAMMA Investing LLC now owns 1,985 shares of the financial services provider's stock worth $70,000 after buying an additional 1,164 shares during the period. Institutional investors own 95.43% of the company's stock.

CNO Financial Group Stock Performance

The stock has a fifty day moving average of $34.48 and a 200-day moving average of $30.77. The firm has a market capitalization of $3.80 billion, a P/E ratio of 9.59 and a beta of 1.01. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66.

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.