StockCall Insight into CNO Financial and Assurant: Insurance Stocks Announce Good Quarterly Results
LONDON, February 22, 2013 /PRNewswire/ --
Insurance sector faces many challenges, though the conditions are improving in the wake of macroeconomic upswing. Assurant Inc. (NYSE: AIZ) announced quarterly results and increased its stockholders' value. The company also announced taking charges for its previous acquisitions. Its stock also logged good returns. CNO Financial Group Inc (NYSE: CNO), on the other hand, reported mild growth in its New Annualized Premium. Insurance industry is on the path of recovery and despite contingencies like Hurricane Sandy and regulatory uncertainties, is all set to provide good returns. The improvement in housing sector is also expected to provide positive fillip to home insurance providers. StockCall has issued technical analysis and charting reports on CNO Financial Group Inc. and Assurant Inc. Download these free reports now at http://www.stockcall.com/todaysopinions
Assurant's Stock Up
Assurant Inc. recently announced its full financial year and fourth quarter results. The company's net income for the quarter stood at 31 cents per share while it earned $5.67 per share for the entire year. However, it reported flat sales for the quarter. The company mainly deals with insurance for foreclosed homes. It also took $27 million in charge for the acquisition of two mortgage insurance brokers in the UK. The acquisitions were made in 2007. The company also suffered losses on account of Hurricane Sandy. Sign up and have access to our free report on Assurant Inc. at
However, its stock rose on news of a delay for force-placed coverage. The new plan would have forced the insurer to reduce its premium. Assurant also declared 21 cents per share in quarterly dividend. The stock has 2.05 percent dividend yield and it grew 18 percent so far this year. However, its value declined 7 percent in the past 12 months. The stock offers good investment opportunity for investors looking for regular growth as its payout ratio is merely 12, providing the cover of security to its future dividend payments. The company broke the negative streak of 2012 and the stock is currently performing well. It is expected to keep up the momentum in the near future.
Assurant is also focusing on international operations as its specialty and employee benefits units continue to lag behind.
CNO Financial Buys Back Shares
CNO Financial posted net income of 41 cents per share for its fourth quarter, while its full year income stood at 83 cents per share. Its quarterly New Annualized Premium grew 2 percent to $105.7 million. CNO Financial reported its full year NAP at $393.4 million, up 5 percent. On a down town, the company stock was dumped during the quarter by Acadian Asset Management and GW Capital. Institutional selling is generally considered a negative sign. Download the free research on CNO Financial Group Inc. today by registering at http://www.StockCall.com/CNO022213.pdf
The stock is up 47 percent in the past 52 weeks while it grew 16 percent so far this year. Though, the company's dividend yield is only 0.74 percent, CNO Financial returns investors' value by the buyback of its shares. The company bought back 8.64 million shares in the fourth quarter of year 2012 for $80.7 million. During the entire year, CNO Financial spent $180.2 million on buying back its stock. It also augmented its repurchase program by $300 million. Overall, the stock holds good promise and is a good investment candidate.
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