CNO Financial Q3 net income rises on insurance sales

CNO Financial

03/11/2025 21:28

Overview

CNO Financial Q3 net income rises to $23.1 mln from $9.3 mln in 3Q24

Net operating income for Q3 increases to $127.2 mln from $119.2 mln in 3Q24

Company executed reinsurance transaction with Bermuda affiliate, streamlining Worksite Division

Outlook

CNO Financial increases 2027 ROE target by 50 basis points

Company to exit fee services in Worksite Division by 1H 2026

CNO expects Worksite Division exit to increase annual pre-tax income by $20 mln

Result Drivers

INSURANCE SALES - Record Direct-to-Consumer and Worksite insurance sales contributed to Q3 results

WORKSITE DIVISION STREAMLINING - Exiting fee services to focus on high-growth insurance offerings, expected to increase pre-tax income

REINSURANCE TRANSACTION - Strategic reinsurance transactions with Bermuda affiliate to improve ROE through 2027

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.24
Q3 Net Income
$23.10 mln
Q3 ROE
12.50%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy."

Wall Street's median 12-month price target for CNO Financial Group Inc is $42.00, about 4.7% above its October 31 closing price of $40.02

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nPn7893DNa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)