Research Desk Line-up: Trupanion Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CNO Financial Group, Inc. (NYSE: CNO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CNO, following the Company's disclosure of its financial performance on October 25, 2017, for the third quarter fiscal 2017 (Q3 FY17). The Carmel, Indiana-based Company's total revenue and net operating income per diluted share rose on a year-over-year, beating market expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Accident & Health Insurance industry. Pro-TD has currently selected Trupanion, Inc. (NASDAQ: TRUP) for due-diligence and potential coverage as the Company announced on November 02, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Trupanion when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CNO; also brushing on TRUP. With the links below you can directly download the report of your stock of interest free of charge at:
During Q3 FY17, CNO Financial total collected premiums from segments were $882.4 million compared to $900.0 million recorded at the end of Q3 FY16. Meanwhile, the Company's total revenues increased in the reported quarter to $1.08 billion from $1.02 billion in Q3 FY16. Total revenues topped Wall Street's projection of $997 million.
The insurance holding Company recorded net income of $100.8 million, or $0.59 per diluted share, in Q3 FY17 compared $18.6 million, or $0.11 per diluted share, in Q3 FY16. The Company's net operating income for Q3 FY17 came in at $76.7 million, or $0.45 per share, versus $64.3 million, or $0.37 diluted per share, in the previous year's comparable quarter. Moreover, CNO Financial's net operating income per share surpassed analysts' estimates of $0.39.
CNO Financial first-year collected premiums were $319.2 million in the quarter ended September 30, 2017, compared to $337.6 million collected in the quarter ended September 30, 2016. New annualized premium for life and health products were $77.4 million in Q3 FY17 compared to $85.6 million in Q3 FY16. Annuity collected premiums were down by 4% to $236.7 million in Q3 FY17 from $245.3 million in Q3 FY16. Furthermore, total annuity account values were $8.43 billion in Q3 FY17, rising 4% from $8.10 billion in the prior year's same quarter.
The Company's policies in-force were down by 1% y-o-y in Q3 FY17 to 3.5 million. The Company's book value per common share increased to $29.10 as on September 30, 2017, from $25.89 as on September 30, 2016. Furthermore, book value per diluted share, excluding accumulated other comprehensive income (loss), increased to $23.19 as on September 30, 2017, from $20.80 as on September 30, 2016.
CNO Financial's Segment Performance
For the quarter ended on September 30, 2017, the Company's Bankers Life segment's total collected premiums were $641.7 million compared to $665.9 million in Q3 FY16. The segment's adjusted EBIT increased during Q3 FY17 to $106.9 million from $88.1 million in Q3 FY16, due to favorable net investment income and favorable incurred claims in long-term care and Medicare supplement blocks of business.
The Company's Washington National segment total collected premiums fell during Q3 FY17 to $107.3 million from $116.3 million in the year-ago same quarter. Meanwhile, the segment's adjusted EBIT improved to $27.5 million in Q3 FY17 from $25.2 million in Q3 FY16, primarily attributed to higher margins on the supplemental health block.
Colonial Penn's total collected premiums grew in the reported period to $72.6 million from $70.7 million in Q3 FY16. Additionally, the segment's adjusted EBIT surged to $9.0 million in Q3 FY17 from $0.9 million in Q3 FY16, principally due to reduced marketing expenses and $3.0 million related to a favorable out-of-period adjustment
Dividend and Share Repurchase
In a separate press release on November 16, 2017, CNO Financial's Board of Directors declared a quarterly cash dividend of $0.09 per share on the Company's common shares. The dividend will be payable December 26, 2017, to shareholders of record at the close of business on December 11, 2017.
During Q3 FY17, the Company repurchased 1.3 million common shares for a total cost of $28.2 million at an average price of $22.19 per share. Furthermore, the Company's remaining share repurchase authorization was 167.8 million shares and had authority to repurchase up to an additional $412.6 million of common stock at the end of the reported quarter.
At the closing bell, on Friday, November 17, 2017, CNO Financial's stock slightly rose 0.63%, ending the trading session at $23.79. A total volume of 507.16 thousand shares have exchanged hands. The Company's stock price soared 7.94% in the last three months, 17.08% in the past six months, and 35.94% in the previous twelve months. Moreover, the stock surged 24.23% since the start of the year. The stock is trading at a PE ratio of 8.60 and has a dividend yield of 1.51%. The stock currently has a market cap of $3.97 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily