Last $12.02 USD
Change Today -0.02 / -0.17%
Volume 1.5M
As of 8:04 PM 05/17/13 All times are local (Market data is delayed by at least 15 minutes).

cno financial group inc (CNO) Snapshot

Open
$12.13
Previous Close
$12.04
Day High
$12.18
Day Low
$12.01
52 Week High
05/15/13 - $12.22
52 Week Low
05/23/12 - $6.30
Market Cap
2.7B
Average Volume 10 Days
1.2M
EPS TTM
$0.77
Shares Outstanding
222.2M
EX-Date
06/6/13
P/E TM
15.6x
Dividend
$0.12
Dividend Yield
0.67%
Current Stock Chart for CNO FINANCIAL GROUP INC (CNO)

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cno financial group inc (CNO) Details

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 three segments: Bankers Life, Washington National, and Colonial Penn. The Bankers Life segment markets and distributes Medicare supplement insurance, interest sensitive and traditional life insurance, fixed annuities, and long term care insurance products; Medicare advantage plans primarily through distribution arrangements with Humana, Inc. and United HealthCare, and Medicare Part D prescription drug plans through a distribution and reinsurance arrangement with Coventry Health Care. The Washington National segment markets and distributes supplemental health insurance, including specified disease, accident, and hospital indemnity insurance products; and life insurance to middle income consumers at home and the worksite through independent marketing organizations and insurance agencies. The Colonial Penn segment markets primarily graded benefit and simplified issue life insurance products directly to customers through television advertising, direct mail, Internet, and telemarketing. CNO Financial Group also offers blocks of interest-sensitive life insurance, traditional life insurance, annuities, long-term care insurance, and other supplemental health products. It sells its products through career agents, independent producers, and direct marketing. The company was formerly known as Conseco, Inc. and changed its name to CNO Financial Group, Inc. in May 2010. CNO Financial Group, Inc. was founded in 1979 and is headquartered in Carmel, Indiana.

4,200 Employees
Last Reported Date: 02/19/13
Founded in 1979

cno financial group inc (CNO) Top Compensated Officers

Chief Executive Officer, Director, Member of ...
Total Annual Compensation: $862.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $960.5K
Chief Investment Officer, Chief Executive Off...
Total Annual Compensation: $500.0K
Chief Business Officer and President of Banke...
Total Annual Compensation: $546.9K
Executive Vice President of Product Managemen...
Total Annual Compensation: $372.8K
Compensation as of Fiscal Year 2012.

cno financial group inc (CNO) Key Developments

CNO Financial Group, Inc. Increases Quarterly Dividend, Payable on June 24, 2013

CNO Financial Group, Inc. announced that the board of directors has approved an increase in the quarterly dividend to $0.03 per share on the company's common shares. The dividend will be payable June 24, 2013, to shareholders of record at the close of business on June 10, 2013. This quarterly rate represents an annualized dividend of $0.12 per share, which equates to a yield of approximately 1% based on the company's stock price at the close of trading on the New York Stock Exchange on May 7, 2013. Future cash dividends will be subject to Board approval.

CNO Financial Group, Inc. Seeks to Amend Senior Secured Credit Facility

CNO Financial Group, Inc. announced that it is seeking to amend its senior secured credit facility to reduce the interest rate and make other changes to provide additional financial flexibility. The facility consists of a $250 million four-year term loan which currently has an interest rate of LIBOR plus 325 basis points, with a LIBOR floor of 100 basis points (current interest rate of 4.25%) and has an outstanding principal balance of $225 million, and (ii) a $425 million six-year term loan which currently has an interest rate of LIBOR plus 375 basis points, with a LIBOR floor of 125 basis points (current interest rate of 5.00%) and has an outstanding principal balance of approximately $406 million.

CNO Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter March 31, 2013; Provides Dividend Guidance for the Year 2013; Provides Earnings Guidance for the Year 2013

CNO Financial Group, Inc. announced unaudited consolidated earnings results for the first quarter March 31, 2013. For the quarter, the company reported net income of $11.9 million, or 5 cents per diluted share against net income of $59.1 million or 21 cents per diluted share a year ago. Operating earnings was $49.7 million or 21 cents per diluted share against $40.6 million or 15 cents a year ago. Total revenues were $1,142.6 million against $1,123.9 million a year ago. Income before income taxes was $34.6 million against $92.3 million a year ago. EBIT was $92.7 million against $81.3 million a year ago. Net income was impacted by the loss on extinguishment of debt of $57.2 million from the completion of tender offer to repurchase a portion of 7.0% Convertible Senior Debentures. The corresponding GAAP measures for book value per common share were $22.50 and $22.80 at March 31, 2013 and December 31, 2012, respectively. Based on company’s continued expectation to generate strong statutory earnings and excess capital, the company anticipates total year dividend payments to the holding company of $250 million to $300 million in 2013. CNO Financial Group, Inc. announced unaudited consolidated earnings results for the first quarter March 31, 2013. For the quarter, the company reported net income of $11.9 million, or 5 cents per diluted share against net income of $59.1 million or 21 cents per diluted share a year ago. Operating earnings was $49.7 million or 21 cents per diluted share against $40.6 million or 15 cents a year ago. Total revenues were $1,142.6 million against $1,123.9 million a year ago. Income before income taxes was $34.6 million against $92.3 million a year ago. EBIT was $92.7 million against $81.3 million a year ago. Net income was impacted by the loss on extinguishment of debt of $57.2 million from the completion of tender offer to repurchase a portion of 7.0% Convertible Senior Debentures. The corresponding GAAP measures for book value per common share were $22.50 and $22.80 at March 31, 2013 and December 31, 2012, respectively. Total sales were up 3%, primarily due to an 11% increase in life insurance sales products. Based on company’s continued expectation to generate strong statutory earnings and excess capital, the company anticipates total year dividend payments to the holding company of $250 million to $300 million in 2013. For the year 2013, the company expects loss of $5 million to $10 million pretax. Earnings before interest and taxes in the $5 million to $20 million range for 2013. The company expects to invest $80 million to $85 million in strategic business initiatives over the next 3 years.

 

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CNO Competitors

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Industry Analysis

CNO

Industry Average

Valuation CNO Industry Range
Price/Earnings 18.6x
Price/Sales 0.6x
Price/Book 0.5x
Price/Cash Flow 15.4x
TEV/Sales NM Not Meaningful
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