CNO Financial Group (NYSE:CNO) Reaches New 12-Month High After Strong Earnings

CNO Financial Group, Inc. (NYSE:CNO) shares reached a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $42.31.

The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.81% and a net margin of 6.64%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis.

CNO Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CIO Eric R. Johnson sold 48,665 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $41.24, for a total value of $2,006,944.60. Following the completion of the sale, the executive directly owned 671,542 shares in the company, valued at approximately $27,694,392.08. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary C. Bhojwani sold 31,430 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $41.99, for a total transaction of $1,319,745.70. Following the completion of the transaction, the chief executive officer owned 195,926 shares in the company, valued at $8,226,932.74. The trade was a 13.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 89,378 shares of company stock worth $3,722,146. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased its stake in CNO Financial Group by 4.0% in the fourth quarter. ProShare Advisors LLC now owns 21,419 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 833 shares during the period. Thrivent Financial for Lutherans boosted its holdings in CNO Financial Group by 12.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 61,132 shares of the financial services provider’s stock valued at $2,597,000 after purchasing an additional 6,590 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CNO Financial Group in the 4th quarter valued at approximately $450,000. Versor Investments LP acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $454,000. Finally, Horizon Investments LLC acquired a new position in shares of CNO Financial Group in the 4th quarter worth approximately $118,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

CNO Financial Group Price Performance

The company has a 50-day moving average of $42.04 and a 200 day moving average of $40.18. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market cap of $4.18 billion, a P/E ratio of 15.34 and a beta of 0.84.

About CNO Financial Group

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.