CNO Financial reports profitable first quarter
CNO Financial Group Inc. saw a decline in revenue, but rebounded from a year-ago loss in the first quarter.
CNO Financial Group Inc. saw a decline in revenue, but rebounded from a year-ago loss in the first quarter.
CNO Financial Group Inc. saw a decline in revenue and profit in the fourth quarter, but the results met or exceeded Wall Street predictions.
CNO Financial Group looks nothing like it did five years ago. CNO stock recently traded around $17.50 a share, led in part by five consecutive years of profit. It has sold or spun off the last of its risky books of business acquired during go-go years, and it’s on the cusp of a significant bond-rating milestone.
The Carmel-based insurance holding company had profit of $117.4 million in the period ended Sept. 30, down from $283 million in last year's third quarter. Revenue fell 11 percent, to $967 million.
CNO Financial Group Inc. earned $78.1 million compared with profit of $77.1 million in the same period of 2013.
CNO Financial Group Inc. was upgraded by Standard & Poor’s after the Carmel-based company completed the sale of a life insurance unit that was no longer issuing policies.
Profit shot up for some, while others fought setbacks.
It was an exorcism of CNO’s legacy Conseco business recently that’s really put the proverbial color back in the faces of management and investors.
The Carmel-based insurance company reported profit of $106 million, up from $101.2 million in the same quarter of 2012.
CNO Financial Group Inc. on Monday reported a third-quarter profit of $283 million, a significant jump from the money-losing quarter it experienced a year ago.
The Carmel-based financial services company said that, during the second quarter, it repurchased $59.4 million of its securities, including 4.4 million common shares for $50 million.
The Carmel-based insurer and financial services company reported strong earnings on a slight increase of revenue for the second quarter.
The Carmel-based insurer expects to repurchase $250 million to $300 million of securities this year.
John Paulson, who made $15 billion betting against real estate and then saw his fortune shrink as gold slumped, has more than doubled his hedge fund's money on Carmel-based CNO Financial Group Inc.
CNO Financial Group Inc. posted much lower earnings in the first quarter after suffering a $57.2 million loss in the period on the extinguishment of debt.
The Carmel-based insurance holding company says it expects to buy back more of its shares and take a special charge tied to a recent tender offer.
The Carmel-based holding company for insurance firms reported fourth-quarter 2012 net income of $101.2 million, or 41 cents a share. That was a 57 percent jump over the same quarter in 2011.
Ten of Indiana’s largest employers—including the state of Indiana; Cummins Inc.; CNO Financial Group Inc.; Indiana, Purdue and Butler universities; and Indiana University Health—think they have hit upon a solution.
CNO Financial Group’s stock price has nearly doubled since Ed Bonach took the helm in October 2011. Some analysts that follow the successor to Conseco Inc., which a decade ago was the nation’s third-largest Chapter 11 bankruptcy reorganization, now regard CNO as an attractive value play.
The Carmel-based owner of Bankers Life and other insurance companies has seen its stock rise as it restructures debt.