$987.65 Million in Sales Expected for CNO Financial Group Inc (CNO) This Quarter

Wall Street analysts expect CNO Financial Group Inc (NYSE:CNO) to announce $987.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CNO Financial Group’s earnings, with estimates ranging from $956.80 million to $1.02 billion. CNO Financial Group reported sales of $1.08 billion during the same quarter last year, which would suggest a negative year over year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 24th.

On average, analysts expect that CNO Financial Group will report full year sales of $3.92 billion for the current fiscal year, with estimates ranging from $3.84 billion to $3.98 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.82 billion, with estimates ranging from $3.74 billion to $3.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow CNO Financial Group.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). CNO Financial Group had a net margin of 5.12% and a return on equity of 7.11%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business posted $0.45 EPS. CNO Financial Group’s revenue was down 1.0% compared to the same quarter last year.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price target on shares of CNO Financial Group in a research report on Friday, August 17th. Finally, ValuEngine raised shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.80.

In other CNO Financial Group news, EVP Bruce K. Baude sold 33,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $22.17, for a total value of $731,610.00. Following the completion of the sale, the executive vice president now owns 52,047 shares in the company, valued at approximately $1,153,881.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

A number of large investors have recently bought and sold shares of CNO. GSA Capital Partners LLP increased its stake in CNO Financial Group by 30.0% in the 1st quarter. GSA Capital Partners LLP now owns 19,400 shares of the financial services provider’s stock valued at $420,000 after buying an additional 4,476 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CNO Financial Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 744,354 shares of the financial services provider’s stock worth $16,131,000 after purchasing an additional 19,508 shares during the last quarter. Profund Advisors LLC increased its stake in shares of CNO Financial Group by 11.2% during the 1st quarter. Profund Advisors LLC now owns 28,726 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 2,893 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of CNO Financial Group by 55.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 34,146 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 12,175 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of CNO Financial Group by 186.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,141,906 shares of the financial services provider’s stock worth $24,745,000 after purchasing an additional 742,820 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

NYSE CNO traded up $0.16 during trading hours on Friday, hitting $20.27. The company’s stock had a trading volume of 594,200 shares, compared to its average volume of 1,028,327. CNO Financial Group has a 52 week low of $18.65 and a 52 week high of $26.47. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 9.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.14 and a current ratio of 0.14.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Monday, September 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.40 annualized dividend and a yield of 1.97%. CNO Financial Group’s dividend payout ratio (DPR) is 19.80%.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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