Q2 2023 EPS Estimates for CNO Financial Group, Inc. Increased by Zacks Research (NYSE:CNO)

Posted by Defense World Staff on May 19th, 2023

CNO Financial Group, Inc. (NYSE:CNO – Get Rating) – Research analysts at Zacks Research increased their Q2 2023 earnings per share (EPS) estimates for shares of CNO Financial Group in a research note issued to investors on Monday, May 15th. Zacks Research analyst K. Dey now expects that the financial services provider will post earnings per share of $0.72 for the quarter, up from their prior forecast of $0.56. The consensus estimate for CNO Financial Group’s current full-year earnings is $2.78 per share. Zacks Research also issued estimates for CNO Financial Group’s Q3 2023 earnings at $0.75 EPS, Q4 2023 earnings at $0.83 EPS and FY2023 earnings at $2.81 EPS.

A number of other analysts have also weighed in on CNO. Jefferies Financial Group raised their price target on shares of CNO Financial Group from $23.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, February 21st. StockNews.com initiated coverage on CNO Financial Group in a research note on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price objective on CNO Financial Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Morgan Stanley dropped their price objective on CNO Financial Group from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Finally, Piper Sandler reduced their target price on shares of CNO Financial Group from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.25.

CNO Financial Group Trading Up 1.7 %

Shares of NYSE CNO opened at $22.44 on Thursday. CNO Financial Group has a 1-year low of $16.56 and a 1-year high of $26.35. The company has a 50-day moving average of $21.77 and a two-hundred day moving average of $22.96. The company has a market cap of $2.57 billion, a PE ratio of 9.23 and a beta of 1.12. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.47.

CNO Financial Group (NYSE:CNO – Get Rating) last announced its earnings results on Monday, May 1st. The financial services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.14). CNO Financial Group had a net margin of 7.59% and a return on equity of 16.21%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $926.00 million. During the same quarter last year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of CNO Financial Group in the 1st quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of CNO Financial Group during the first quarter worth $28,000. IFP Advisors Inc raised its holdings in shares of CNO Financial Group by 250.3% during the third quarter. IFP Advisors Inc now owns 1,310 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 936 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of CNO Financial Group during the third quarter worth $25,000. Finally, Strs Ohio bought a new stake in CNO Financial Group in the 4th quarter valued at $34,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CNO Financial Group

In other CNO Financial Group news, EVP Matthew J. Zimpfer sold 4,188 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $26.03, for a total transaction of $109,013.64. Following the transaction, the executive vice president now owns 261,471 shares in the company, valued at $6,806,090.13. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Matthew J. Zimpfer sold 3,308 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $25.85, for a total value of $85,511.80. Following the completion of the transaction, the executive vice president now owns 258,163 shares of the company’s stock, valued at approximately $6,673,513.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew J. Zimpfer sold 4,188 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $26.03, for a total transaction of $109,013.64. Following the completion of the sale, the executive vice president now owns 261,471 shares of the company’s stock, valued at approximately $6,806,090.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,144 shares of company stock worth $276,605. 3.00% of the stock is owned by insiders.

CNO Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 8th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.67%. CNO Financial Group’s payout ratio is 23.05%.

CNO Financial Group Company Profile

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CNO Financial Group, Inc is an insurance holding company, which engages in developing, marketing, and administering health insurance, annuity, individual life insurance and other insurance products. It operates through the following segments: Bankers Life, Washington National, and Colonial Penn. The Bankers Life segment markets and distributes medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a dedicated field force of career agents and sales managers supported by a network of community-based sales offices.