CNO Financial Group
Sells retirement-focused insurance and financial services through agent, worksite, and direct channels.
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Profile
Sells annuities, life insurance, supplemental health coverage, and financial services to middle-income Americans through Bankers Life, Colonial Penn, Washington National, and Optavise. Earnings combine insurance margins and fees with investment income, while distribution spans exclusive agents, independent producers, workplaces, and direct marketing.
Sells annuities, life insurance, and supplemental health coverage to middle-income Americans approaching or in retirement. Bankers Life combines face-to-face agents with brokerage and advisory services, while Colonial Penn markets life insurance directly. Washington National and Optavise distribute voluntary health and life benefits through workplaces; the group is exiting Optavise's fee-based benefits services to focus the division on insurance.
Reaches individuals and employers across the United States through exclusive agents, independent producers, and direct marketing, pairing each brand with a distinct channel. Earnings come from insurance margins, financial-services fees, and investment income on assets backing policy obligations. Results depend on agent recruitment, claims experience, and the spread between portfolio yields and policyholder crediting rates. Insurance subsidiaries operate under state regulation and statutory capital requirements.
Company facts
Categories
Key statistics
Year to date +31.2% · Average volume (30d) 658.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 26, 2026 | Capital One Financial | Target | $70 | |||
| Jul 10, 2026 | Jefferies | Downgrade | Buy | Hold | $47 | $55 |
| Jun 1, 2026 | Evercore ISI | Target | $43 | $48 | ||
| Jun 1, 2026 | Evercore ISI Group | Upgrade | Underperform | In Line | ||
| Feb 18, 2026 | Evercore ISI | Target | $29 | $43 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.97 | $1.26 | +29.6% | $999.5M | $1.29B | +28.6% | +2.99% |
| Apr 30, 2026Q1 FY26 | $0.91 | $1.29 | +41.8% | $1.00B | $1.03B | +2.6% | +0.40% |
| Feb 5, 2026Q4 FY25 | $1.20 | $1.47 | +22.5% | $1.00B | $1.14B | +13.9% | +5.51% |
| Nov 3, 2025Q3 FY25 | $1.21 | $0.96 | −20.7% | $1.00B | $1.19B | +18.5% | +4.34% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.00B | $1.15B | $1.19B | $1.14B | $1.03B | $1.29B | |
| Gross profit | $353.5M | $448.2M | $459.9M | $540.3M | $459.5M | $558.0M | |
| Operating income | $17.7M | $118.0M | $36.2M | $111.4M | $48.4M | $159.7M | |
| Net income | $13.7M | $91.8M | $23.1M | $92.9M | $37.7M | $125.9M | |
| Diluted EPS | $0.13 | $0.89 | $0.23 | $0.96 | $0.40 | $1.33 | |
| Gross margin | 35.2% | 38.9% | 38.7% | 47.3% | 44.6% | 43.4% | |
| Operating margin | 1.8% | 10.2% | 3.0% | 9.7% | 4.7% | 12.4% |
Fiscal years (4-quarter sums)FY21 $4.12B · FY22 $3.58B · FY23 $4.15B · FY24 $4.45B · FY25 $4.49B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $9.52B · Total debt $4.55B · Total assets $39.80B · Shareholders' equity $2.59B
Dividends
Raised for 12 straight years — most recently to $0.18 from $0.17 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2026 | Jun 10 | Jun 24 | $0.18 | raised from $0.17 |
| Mar 10, 2026 | Mar 10 | Mar 24 | $0.17 | |
| Dec 10, 2025 | Dec 10 | Dec 23 | $0.17 | |
| Sep 10, 2025 | Sep 10 | Sep 24 | $0.17 | |
| Jun 10, 2025 | Jun 10 | Jun 24 | $0.17 | raised from $0.16 |
| Mar 10, 2025 | Mar 10 | Mar 24 | $0.16 | |
| Dec 10, 2024 | Dec 10 | Dec 24 | $0.16 | |
| Sep 10, 2024 | Sep 10 | Sep 24 | $0.16 |
Ownership
Shares outstanding 93.35M · Float 90.39M · 96.8% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.39M | 14.34% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 6.74M | 7.22% | 13F | Aug 13, 2026 |
| State Street Corp | 4.16M | 4.45% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 4.08M | 4.37% | 13F | Aug 13, 2026 |
| Franklin Resources Inc | 3.87M | 4.15% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 1, 2026 | Rocco F. III Tarasi | officer: Chief Marketing Officer | −1,891 | $51.31 |
| Jun 30, 2026 | Gary C. Bhojwani | director, officer: Chief Executive Officer | −86,048 | $51.48 |
| Jun 11, 2026 | Rocco F. III Tarasi | officer: Chief Marketing Officer | −5,750 | $50.00 |
| Jun 10, 2026 | Rocco F. III Tarasi | officer: Chief Marketing Officer | −3,308 | $49.00 |
| Jun 2, 2026 | Rocco F. III Tarasi | officer: Chief Marketing Officer | −4,808 | $47.00 |
Peers
- Globe Life
Direct-mail and exclusive-agent life and supplemental health, middle-income.
- Aflac
Dominant worksite supplemental insurer; ~29% U.S. market share.
- Unum Group
Top worksite voluntary benefits carrier with Colonial Life as direct rival.
- MetLife
Group Benefits segment: supplemental health at employer worksites.
- Primerica
Largest term life distributor in North America targeting middle-income families.
- Lincoln Financial
Annuities, group protection, and life through advisors and brokers.
- F&G Annuities & Life
FNF-majority annuity carrier; 6th in U.S. FIA sales with $57B in retained AUM
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CNO Financial Group | $57.00 | +2.96% | $5.17B | 19.0 | 11.7 | 1.1 | +11.6% |
| Globe Life | $172.79 | +0.05% | $13.42B | 11.4 | 10.4 | 2.2 | +8.0% |
| Aflac | $116.52 | −0.00% | $59.31B | 12.6 | 15.9 | 3.3 | −2.4% |
| Unum Group | $93.38 | +0.31% | $14.73B | 21.7 | 10.4 | 1.1 | −13.8% |
| MetLife | $97.91 | +1.46% | $62.10B | 18.5 | 9.2 | 0.8 | +10.0% |
| Primerica | $290.39 | +0.07% | $9.06B | 11.7 | 11.2 | 2.7 | +9.0% |
| Lincoln Financial | $43.25 | −0.07% | $8.29B | 3.7 | 5.3 | 0.4 | +21.2% |
| F&G Annuities & Life | $23.98 | −0.12% | $3.18B | 8.3 | 5.6 | 0.5 | +5.8% |
| Median | 11.7 | 10.4 | 1.1 | +8.0% |