- MKTX Q1 Earnings Beat Estimates on Robust Commission Revenue Growth
May 11, 2026
MarketAxess Holdings Inc. MKTX reported first-quarter 2026 adjusted earnings per share of $2.25, which beat the Zacks Consensus Estimate by 4.7%. The bottom line increased 20.3% year over year.
Total revenues were $233 million, which grew 12% year over year. The top line beat the consensus mark by 0.9%
The quarterly results benefited from solid growth in total revenues, driven by higher high-grade, high-yield, emerging markets and Eurobonds trading volumes. Increased commission revenues, along with growth in information services, technology services and post-trade services revenues, also contributed to the upside. The gains were partly offset by higher expenses stemming from increased employee compensation and benefits, technology and communication, and marketing and advertising costs.
MarketAxess Holdings Inc. Price, Consensus and EPS SurpriseMarketAxess Holdings Inc. Price, Consensus and EPS Surprise
MarketAxess Holdings Inc. price-consensus-eps-surprise-chart | MarketAxess Holdings Inc. Quote
MarketAxess’ Quarterly Operational Update
Commission revenues improved 12.2% year over year to $203.5 million. The metric beat the Zacks Consensus Estimate of $202.1 million and our estimate of $198.7 million. Information services revenues of $14.4 million grew 11.9% year over year. The metric beat the consensus mark of $13.9 million and our estimate of $13.6 million. Post-trade services revenues increased 4.7% year over year to $11.6 million, while technology services revenues rose 19% to $3.9 million.
Total expenses were $132.5 million, which escalated 10.2% year over year in the quarter due to higher employee compensation and benefits, technology and communication, and marketing and advertising. The metric was lower than our estimate of $135.9 million.
MarketAxess’ net income skyrocketed 418.5% year over year to $78.1 million, higher than our estimate of $72.5 million. The net income margin of 33.5% improved 2,630 basis points year over year.
MarketAxess’ Trading Volumes
The high-grade trading volume of MarketAxess was $511.5 billion in the first quarter, which advanced 10.9% year over year and beat the Zacks Consensus Estimate of $505.1 billion. The ADV of the same product category totaled $8.39 million, which rose 10% year over year and beat the Zacks Consensus Estimate of $8.31 million.
High-yield trading volume of $100.4 billion climbed 11.6% year over year, while ADV rose 12% year over year to $1.6 billion. Other credit trading volume rose 16% year over year to $49.8 billion, whereas ADV for the same product category increased 10% year over year to $659 million.
Trading volume and ADV of emerging markets rose 30% each on a year-over-year basis to $311.9 billion and $5 billion, respectively. The Eurobonds’ trading volume and ADV improved 20% each on a year-over-year basis.
Story Continues
The total credit trading volume of $1,142.2 billion advanced 17% year over year. Total credit ADV rose 17% to $18.6 billion. Total rates’ trading volume and ADV of this product category each improved 16% on a year-over-year basis.
MarketAxess’ Balance Sheet (As of March 31, 2026)
MarketAxess exited the first quarter with cash and cash equivalents of $377.3 million, which fell 27.4% from the 2025-end level. Total assets of $2.3 billion inched up 18.9% from the figure at 2025-end.
The company had $228.3 million in outstanding borrowings under its credit facility at the end of the first quarter. Total stockholders’ equity of $1.2 billion rose 3.9% from the 2025-end level.
MarketAxess’ Cash Flows
Net cash used in operating activities was $75.3 million compared to net cash provided by operating activities of $29.6 million in the prior-year period. The free cash flow declined 66.3% year over year to $15.9 million.
MarketAxess’ Capital Deployment Update
MarketAxess completed the final settlement of its previously announced $300 million accelerated share repurchase program on Feb. 4, 2026, with the delivery of an additional 359,782 shares. As of April 30, 2026, $205 million remained available under the board-authorized share repurchase program.
The board declared a quarterly cash dividend of 78 cents per share, which will be paid out on June 3, 2026, to shareholders of record as of May 26.
MarketAxess Reaffirms Its 2026 Outlook
Service revenues, which comprise Information Services, Post-Trade Services and Technology Services, are estimated to witness mid-single-digit percentage growth. Total expenses are anticipated to be between $530 million and $545 million for 2026. Capital expenditure is projected in the range of $65 million to $75 million, while the adjusted effective tax rate is expected to be between 24% and 26%.
MKTX Reaffirms Its 2026-2028 Financial Targets
In the medium term, MarketAxess is targeting average annual total revenue growth within 8-9%, along with an average annual improvement in operating margin of 75-125 basis points.
The projections are made on anticipated minimum average annual growth of approximately 6% in composite credit market ADV and around 5% in U.S. government bond TRACE market ADV.
MKTX’s Zacks Rank
MarketAxess currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Sector Releases
Several companies in the Finance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they have performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, which increased 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were led by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- GL Stock Near 52-Week High: A Signal for Investors to Hold Tight?
May 11, 2026
Shares of Globe Life Inc. GL closed at $151.08 on Friday, near its 52-week high of $156.69. This proximity underscores investor confidence. It has the ingredients for further price appreciation. The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $145.42 and $140.34, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
Earnings of Globe Life grew 16.1% in the last five years, better than the industry average of 0.6%. GL has a solid surprise history. The stock has a solid track record of beating earnings estimates in two of the last four quarters while missing in the other two, with an average being 1.06%.Zacks Investment Research
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GL is an Outperformer
Shares of Globe Life have gained 25.1% in the past year, outperforming its industry and the Finance sector’s growth of 6.1% and 12.2%, respectively.
GL has outperformed its peers, Aflac Incorporated AFL and Unum Group UNM, which have risen 7.2% and 0.1%, respectively, in the past year, while AMERISAFE, Inc. AMSF has lost 35.9%.Zacks Investment Research
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GL Shares are Affordable
Globe Life shares are trading at a discount compared to the industry. Its forward price-to-earnings multiple of 9.53X is lower than the industry average of 12.65X, the Finance sector’s 15.79X and the Zacks S&P 500 Composite’s 22.16X. Also, it has a Value Score of A.
GL’s Growth Projection Encourages
The Zacks Consensus Estimate for Globe Life’s 2026 earnings per share indicates a year-over-year increase of 6.2%. The consensus estimate for revenues is pegged at $6.41 billion, implying a year-over-year improvement of 6.3%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 7.8% and 6.1%, respectively, from the corresponding 2026 estimates.
Target Price Reflects Potential Upside
Based on short-term price targets offered by 13 analysts, the Zacks average price target is $173.23 per share. The average indicates a potential 13.6% upside from the last closing price.Zacks Investment Research
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GL’s Return on Capital
GL’s trailing 12-month return on equity is 20.9%, ahead of the industry average of 13.8%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders’ equity.
Also, the return on invested capital (ROIC) in the trailing 12 months was 12.5%, better than the industry average of 6.6%. Its ROIC has been increasing over the last few quarters amid capital investment made over the same time frame. This reflects the company’s efficiency in utilizing funds to generate income.
Story Continues
Key Points to Note for Globe Life
Globe Life has been witnessing a positive trend in revenues, driven by premium growth in its Life Insurance and Health Insurance segments and net investment income.
The strong performance of the American Income and Liberty National divisions should drive the top line in the future. Liberty National is likely to continue to benefit from improved productivity and agent count. GL’s expansion initiatives to capture heavily populated and less penetrated areas should drive growth in the future.
Globe Life expects net life sales of mid-single-digit growth at American Income, low double-digit growth at Liberty National, and low single-digit growth at direct-to-consumer in 2026. The company expects Net health sales of mid-single-digit growth for Liberty National and low double-digit growth for Family Heritage in 2026. For United American, the company is currently projecting high-teens growth for 2026.
Moreover, net investment income continues to be another important driver of the company’s top-line growth and has been exhibiting improvement over the last few years. The metric is likely to keep growing, riding on improved invested assets and higher interest rates on new investments.
The company has maintained a strong liquidity position with sufficient cash-generation capabilities. Its operations comprise writing basic protection life and supplemental health insurance policies, which generate strong and stable cash flows. For 2025, Globe Life has targeted a consolidated Company Action Level RBC ratio of 300% to 320%.
A strong capital position enables Globe Life to enhance its shareholder value via share buybacks and dividend payouts. The insurer has continuously been increasing its dividend over the past eight years (2017-2024), witnessing a CAGR of 7%.
Conclusion
Globe Life’s higher life and health sales, improved invested assets, increased productivity and agent count, strong liquidity position and effective capital deployment make it an attractive stock.
Globe Life has a VGM Score of A. The VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
Higher return on capital, impressive dividend history, and solid growth projections should continue to benefit the insurer over the long term. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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- LNC Q1 Earnings Beat Estimates on Rising Investment Income
May 11, 2026
Lincoln National Corporation LNC reported first-quarter 2026 adjusted earnings per share of $1.66, which surpassed the Zacks Consensus Estimate by 1.8%. The bottom line rose 3.7% year over year.
Adjusted operating revenues grew 3.9% year over year to $4.9 billion. However, the top line missed the consensus mark by 0.2%.
The quarterly earnings were supported by strong annuity deposits and solid Life Insurance performance. Higher net investment income, favorable equity markets and reduced expenses also contributed to the upside. Nevertheless, the positives were partly offset by a decline in the sales of Group Protection and lower insurance premiums.
Lincoln National Corporation Price, Consensus and EPS SurpriseLincoln National Corporation Price, Consensus and EPS Surprise
Lincoln National Corporation price-consensus-eps-surprise-chart | Lincoln National Corporation Quote
Key Takeaways From LNC’s Q1 Results
LNC’s estimated RBC ratio rose to more than 420% at the first-quarter end.
Insurance premiums inched down 0.1% year over year to $1.7 billion, missing the Zacks Consensus Estimate by 2.4%.
Fee income was $1.4 billion, which improved 0.3% year over year but missed the consensus mark by 1.7%. Net investment income advanced 9.8% year over year to $1.6 billion and beat the consensus mark by 7.5%.
Meanwhile, other revenues of $184 million rose 8.9% year over year in the quarter under review.
Total expenses declined 1.6% year over year to $5.6 billion. Interest credited rose 12.2% year over year to $999 million.
Lincoln National reported a net loss of $172 million compared to the prior-year quarter’s loss of $722 million.
Lincoln National’s Segmental Performances
The Annuities and Life Insurance segments form part of LNC’s Retail Solutions business, while Group Protection and Retirement Plan Services units make up the Workplace Solutions business.
The Annuities segment’s operating income totaled $275 million in the first quarter, which fell 5.2% year over year and missed the Zacks Consensus Estimate of $295.6 million due to the impact of a previously disclosed net investment income allocation refinement and unfavorable tax-related items. The unit's operating revenues rose 7.1% year over year to $1.3 billion, driven by 12.7% growth in net investment income, partly offset by a 14.3% decline in insurance premiums. Total annuity deposits were $3.9 billion, which climbed 3.7% year over year.
The Life Insurance unit recorded an operating income of $41 million, improved from the prior-year quarter’s loss of $16 million and beat the consensus mark of $7.2 million. The metric benefited from higher alternative investment income. Operating revenues grew 2.6% year over year to $1.6 billion. Total Life Insurance sales of $129 million advanced 33% year over year. Total deposits grew 2.9% year over year to $1.3 billion.
Story Continues
The Group Protection segment’s operating income increased 10.9% year over year to $112 million and beat the Zacks Consensus Estimate of $110.4 million. The unit was supported by a favorable life experience. Operating revenues totaled $1.6 billion in the quarter under review, which improved 2.2% year over year. The metric was driven by a 2% rise in insurance premiums. Sales of $150 million fell 4.5% year over year.
The Retirement Plan Services segment recorded an operating income of $43 million, which rose 26.5% year over year and beat the consensus mark of $42.3 million. The metric benefited from the expansion of spreads and favorable equity markets. Operating revenues increased 5.8% year over year to $346 million. Total deposits were $4.1 billion, which advanced 0.7% year over year.
Other Operations incurred an operating loss of $111 million, wider than the year-ago quarter’s loss of $95 million and the Zacks Consensus Estimate of $94.5 million.
Lincoln National’s Financial Update (As of March 31, 2026)
Lincoln National exited the first quarter with cash and invested cash of $7.3 billion, which declined from the 2025-end level of $9.5 billion. Total assets of $406.2 billion fell from the figure at the 2025-end of $417.2 billion.
Long-term debt amounted to $6 billion, up from the figure of $5.9 billion as of Dec. 31, 2025.
Total stockholders’ equity of $10.2 billion declined from the 2025-end level of $10.9 billion.
Book value per share, excluding accumulated other comprehensive income, was $71.06, which fell from the 2025-end level of $73.10. Adjusted income from operations ROE deteriorated 20 basis points year over year to 8.8%.
LNC’s Dividend Update
Lincoln National paid out quarterly dividends of $86 million.
LNC’s 2026 Outlook
In 2026, the Annuities, Life Insurance, Group Protection and Retirement Plan Services units were projected to account for 58-60%, 8-9%, 24-25% and 8-9%, respectively, of the company’s total operating income earnings.
Management had earlier projected an RBC ratio of more than 420% for 2026 and over the long term.
LNC’s Zacks Rank
LNC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Peers Perform?
Several companies in the insurance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they had performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- Blue Owl Capital Q1 Earnings Miss on Lower Net Investment Income
May 7, 2026
Blue Owl Capital Corporation OBDC reported first-quarter 2026 adjusted earnings per share (EPS) of 31 cents, which missed the Zacks Consensus Estimate by 11.4%. The bottom line decreased 20.5% year over year.
Total investment income declined 14.6% year over year to $396.8 million. The top line missed the consensus mark by 6.2%.
The weaker-than-expected quarterly results were affected by lower net investment income. However, the downside was partly offset by lower expenses.
Blue Owl Capital Corporation Price, Consensus and EPS SurpriseBlue Owl Capital Corporation Price, Consensus and EPS Surprise
Blue Owl Capital Corporation price-consensus-eps-surprise-chart | Blue Owl Capital Corporation Quote
Key Insights From Q1 Results
Adjusted net investment income of $153 million fell 3% year over year. New investment commitments were $676 million across seven new portfolio companies and 16 existing ones.
Blue Owl Capital ended the first quarter with investments in 230 portfolio companies, backed with an aggregate fair value of $15.3 billion. Based on the fair value, the average investment size in each portfolio company was $66.7 million as of March 31, 2026.
Total expenses decreased 9.4% year over year to $235.2 million in the first quarter due to lower interest expenses and management fees.
OBDC recorded an adjusted net decrease in net assets resulting from operations of $24.4 million, which decreased from the net increase of $159.7 million a year ago.
Financial Update (as of March 31, 2026)
Blue Owl Capital exited the first quarter with a cash balance of $416.1 million, which declined from the 2025-end level of $558.7 million. Total assets of $16 billion decreased from the $17.2 billion figure at 2025-end.
Debt was $8.5 billion, down from the $9.3 billion figure as of Dec. 31, 2025. OBDC had $3.6 billion of undrawn capacity under its credit facilities. At the first-quarter end, net debt to equity was 1.13X.
Net operating cash flow in the first quarter of 2026 was $967.4 million, up from the prior-year figure of $38.9 million.
Q1 Dividend & Repurchase Update
The board of directors at Blue Owl Capital declared a second-quarter 2026 regular dividend of 31 cents per share, to be paid on or before July 15, 2026, to its shareholders of record as of June 30.
Blue Owl Capital announced a new repurchase program (expiring in 18 months from the approval date of Feb. 18, 2025), under which it may purchase shares up to $300 million. The company repurchased shares worth $35 million in the first quarter of 2026.
OBDC’s Zacks Rank
OBDC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Story Continues
How Did Peers Perform?
Several companies in the Finance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they had performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49 per share. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- CNO Beats Q1 Earnings Estimates on Higher Life and Health Premiums
May 5, 2026
CNO Financial Group, Inc. CNO reported first-quarter 2026 adjusted earnings per share (EPS) of $1.29, which beat the Zacks Consensus Estimate by 41.8%. The bottom line rose from 79 cents a year ago.
Operating revenues of $1.1 billion advanced 4.1% year over year. The top line surpassed the consensus mark by 6.9%.
The strong quarterly results were supported by strong collected premiums from life and health products, rising new annualized premiums and higher fee revenues. Nevertheless, the upside was partly offset by a rise in total benefits and expenses as a result of higher insurance policy benefits.
CNO Financial Group, Inc. Price, Consensus and EPS SurpriseCNO Financial Group, Inc. Price, Consensus and EPS Surprise
CNO Financial Group, Inc. price-consensus-eps-surprise-chart | CNO Financial Group, Inc. Quote
CNO's Q1 Performance
Total insurance policy income rose 3.5% year over year to $673.4 million. The metric was aided by improved collected premiums from annuity, life and health products.
Total investment losses were $22.7 million, wider than the prior-year quarter’s loss of $6.8 million. General account assets grew 5.3% year over year to $395 million. Policyholder and other special-purpose portfolios totaled negative $64.9 million compared with the prior-year quarter’s negative $63.6 million.
Fee revenues and other income rose 0.3% year over year to $48.8 million.
Annuity collected premiums of $433.8 million, declining 1.9% year over year, while health collected premiums increased 5.5% to $428 million. Collected premiums from life products totaled $249.8 million, which rose 2.2% year over year. The total collected premiums advanced 1.8% year over year to $1.1 billion.
New annualized premiums for health products rose 17.5% year over year, while the same for life products climbed 4.8%. Annuity, Health and Life products accounted for 22.8%, 51.6% and 25.6%, respectively, of CNO's insurance margin.
Total benefits and expenses rose 0.5% year over year to $981.2 million due to higher insurance policy benefits.
CNO’s Financial Update (As of March 31, 2026)
CNO Financial exited the first quarter with unrestricted cash and cash equivalents of $1.1 billion, which rose 18.1% from the 2025-end level.
Total assets of $39 billion rose 0.4% from the figure at 2025-end.
The debt-to-capital was 34.6% at the first-quarter end, which deteriorated 120 basis points (bps) from the 2025-end figure.
Total shareholders’ equity declined 5.3% from the 2025-end level to $2.5 billion.
Book value per common share was $26.64, which decreased 4.6% from the figure at 2025-end.
Operating return on equity, excluding significant items, improved 30 bps year over year to 12.2% at the first-quarter end.
Story Continues
CNO Financial’s Share Repurchase & Dividend Update
CNO Financial rewarded its shareholders with $60 million in the form of share buybacks and $17.1 million in dividends during the first quarter.
As of March 31, 2026, the company had a leftover repurchase capacity of $360.4 million.
CNO Reaffirms 2026 Guidance
CNO Financial reaffirmed its full-year 2026 guidance, indicating confidence in the current operating trajectory. The company still anticipates operating EPS to be in the range of $4.25-$4.45, the mid-point of which indicates a 1.1% decline from the 2025 reported figure of $4.40.
For 2026, management still estimates excess cash flow of $200-$250 million to the holding company.
The company continues to project the expense ratio to be in the band of 18.8-19.2% for 2026. It estimates the effective tax rate to be around 22.5%. Management still aims to achieve leverage within the band of 25-28%.
CNO’s Zacks Rank
CNO currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Peers Perform?
Several companies in the insurance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they had performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- VIRT Beats Q1 Earnings Estimates on Execution Services Unit Strength
May 5, 2026
Virtu Financial, Inc. VIRT reported first-quarter adjusted earnings per share (EPS) of $2.24, which beat the Zacks Consensus Estimate by 34.9%. The bottom line increased 72.3% year over year.
Adjusted Net Trading Income rose 58.2% year over year to $786.5 million, surpassing the consensus estimate by 37.5%.
The strong quarterly results can be attributed to the improved commissions and technology services revenues. Strong performance in both the Market Making and Execution Services segments, driven by increased trading activity, also contributed to the upside. However, an increased expense level partially offset the positives.
Virtu Financial, Inc. Price, Consensus and EPS SurpriseVirtu Financial, Inc. Price, Consensus and EPS Surprise
Virtu Financial, Inc. price-consensus-eps-surprise-chart | Virtu Financial, Inc. Quote
Virtu Financial’s Q1 Performance Details
Revenues from commissions, net and technology services rose 23.3% year over year to $186.6 million. The metric beat the Zacks Consensus Estimate and our model estimate of $163.2 million.
Interest and dividend income of $127.5 million increased 16.9% year over year but missed both the Zacks Consensus Estimate and our estimate of $128.6 million.
Adjusted EBITDA increased 62.7% year over year to $520.6 million. Adjusted EBITDA margin improved year over year to 66.2% from 64.4% a year ago.
Total operating expenses rose 11.7% year over year to $685.8 million, but were lower than our estimate of $771.7 million. The increase was due to higher costs related to communication and data processing, as well as employee compensation and payroll taxes.
Q1 Segmental Update
Market Making: Adjusted net trading income totaled $637.1 million in the first quarter, climbing 66.8% year over year. The metric surpassed the Zacks Consensus Estimate of $446 million. The unit’s revenues increased 32.5% year over year to $915.7 million, beating both the Zacks Consensus Estimate and our estimate of $815.6 million.
Execution Services: The unit recorded adjusted net trading income of $149.5 million in the quarter under review, representing an increase of 29.8% year over year. The metric surpassed the Zacks Consensus Estimate of $126 million and our estimate of $125.1 million. The unit’s total revenues rose 32.7% year over year to $187.1 million, beating both the consensus estimate and our estimate of $156.6 million.
Financial Update (As of March 31, 2026)
Virtu Financial ended the first quarter with cash and cash equivalents of $973.2 million, down 8.3% from the 2025 year-end level. Total assets increased to $25.1 billion from $20.2 billion at the end of 2025.
Story Continues
Long-term borrowings, net, amounted to $2 billion, down 0.7% from the figure as of Dec. 31, 2025. Short-term borrowings totaled $155 million.
Total equity of $2.2 billion was up from the 2025-end level of $2 billion.
Share Repurchase & Dividend Update
Virtu Financial did not buy back shares in the first quarter of 2026. It announced a quarterly cash dividend of 24 cents per share, payable on June 15, 2026, to its shareholders of record as of June 1.
VIRT’s Zacks Rank
VIRT currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
How Did Peers Perform?
Several companies in the Finance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they had performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- Aflac Q1 Earnings Miss Estimates on Lower Investment Income
May 1, 2026
Aflac Incorporated AFL reported first-quarter 2026 adjusted earnings per share (EPS) of $1.75, which missed the Zacks Consensus Estimate by 2.9%. However, the bottom line improved 5.4% year over year.
Adjusted revenues totaled $4.2 billion, which declined 1.9% year over year. The top line missed the consensus mark by 2.1%.
AFL’s quarterly performance was affected by lower net investment income and exchange rate. Nevertheless, the downside was partly offset by higher sales in the U.S. unit.
Aflac Incorporated Price, Consensus and EPS SurpriseAflac Incorporated Price, Consensus and EPS Surprise
Aflac Incorporated price-consensus-eps-surprise-chart | Aflac Incorporated Quote
AFL’s Q1 Performance
Adjusted net investment income declined 1.2% year over year to $902 million in the quarter under review.
Net benefits and claims totaled $1.8 billion, which declined 5.8% year over year. Total acquisition and operating expenses decreased 1.5% year over year to $1.3 billion.
Pre-tax earnings increased to $1.2 billion from $145 million in the prior-year quarter.
Inside Aflac’s Segments
Aflac Japan: The segment’s adjusted revenues dipped 4.4% year over year to $2.2 billion in the first quarter and missed the Zacks Consensus Estimate of $2.3 billion. Net earned premiums of $1.6 billion slipped 6.4% year over year and missed the consensus mark by 3.1%.
Adjusted net investment income increased 0.9% year over year to $591 million. The unit’s pretax adjusted earnings rose 5.1% to $759 million but missed the consensus mark of $800.9 million.
New annualized premium sales advanced 25.5% year over year to $113 million on the back of solid sales of Anshin Palette, Miraito and Tsumitasu.
Aflac U.S.: Adjusted revenues of $1.8 billion grew 3.4% year over year and beat the Zacks Consensus Estimate by 0.3%. Net earned premiums advanced 3.5% year over year to $1.6 billion, attributable to higher sales. The metric beat the consensus mark of $1.5 billion.
Adjusted net investment income totaled $201 million, which inched down 0.5% year over year in the quarter under review. Pretax adjusted earnings of the segment increased 1.4% year over year to $363 million. The metric beat the consensus mark of $359.1 million.
The unit’s sales totaled $318 million, up 2.9% year over year, on the back of higher sales of group products.
Financial Position (As of March 31, 2026)
Aflac exited the first quarter with total investments and cash of $103.2 billion, down from the 2025-end level of $103.8 billion. Total assets of $116.3 billion decreased 0.2% from the year-end figure.
Adjusted debt amounted to $7.6 billion, down 1.2% from the figure as of Dec. 31, 2025. Adjusted debt to adjusted capitalization, excluding accumulated other comprehensive income, was 21.2%, which improved 20 basis points (bps) from the 2025-end level.
Story Continues
Total shareholders' equity of $30 billion advanced 1.6% from the 2025-end figure.
Adjusted book value per share increased 5.7% year over year to $54.96. Adjusted return on equity, excluding foreign currency impacts, was 16.4%, which improved 80 bps year over year.
AFL’s Capital Deployment
Aflac bought back shares worth $1 billion in the first quarter of 2026. Management paid a dividend of $315 million in the same quarter.
AFL’s 2026 Outlook
Aflac still expects a benefit ratio of 60-63% for the Aflac Japan unit in 2026. The metric for the Aflac U.S. unit is still projected to be in the 48-52% range.
The expense ratio for Aflac Japan is still estimated to be 20-23%. The same for Aflac U.S. is reiterated to be in the band of 36-39%.
Underlying earned premiums were likely to witness a year-over-year decline of 1-2% for the Japan unit in 2026. Net earned premiums for the U.S. unit were likely to be at the lower end of the 3-6% range.
The pretax profit margin for Aflac Japan is still estimated to be between 33% and 36%, and the same for Aflac U.S. is projected to be in the range of 17-20% for 2026.
AFL’s Zacks Rank
AFL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Peers Perform?
Several companies in the insurance space, including RenaissanceRe Holdings Ltd. RNR, AMERISAFE, Inc. AMSF and The Hartford Insurance Group, Inc. HIG, have already reported their financial results for the March quarter of 2026. Here’s how they had performed:
RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. RNR’s quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments.
AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. AMSF’s quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offsets the downside.
Hartford posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1%. Operating revenues totaled $5.09 billion, up 7% year over year, but missed the consensus mark by 2.1%. HIG’s weaker-than-expected results were caused by less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in Personal Insurance.
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- Can Higher Investment Income Help MetLife Deliver a Q1 Earnings Beat?
Apr 30, 2026
Insurance provider MetLife, Inc. MET is set to report its first-quarter 2026 results on May 6, 2026, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $2.22 per shareon revenues of $19.2 billion.
The first-quarter earnings estimate witnessed four upward revisions and no movement in the opposite direction over the past 60 days. The bottom-line projection indicates a year-over-year increase of 13.3%. Also, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year growth of 2%.Zacks Investment Research
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For full-year 2026, the Zacks Consensus Estimate for MetLife’s revenues is pegged at $78.24 billion, implying a fall of 0.8% year over year. However, the consensus mark for 2026 EPS is pegged at $9.85, implying 11.6% year-over-year growth.
MetLife beat earnings estimates in two of the past four quarters and missed twice, with the average surprise being 0.1%. This is depicted in the figure below.
MetLife, Inc. Price and EPS SurpriseMetLife, Inc. Price and EPS Surprise
MetLife, Inc. price-eps-surprise | MetLife, Inc. Quote
Q1 Earnings Whispers for MetLife
Our proven model predicts a likely earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is precisely the case here.
MET has an Earnings ESP of +0.02% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
What’s Shaping MetLife’s Q1 Results?
The Zacks Consensus Estimate for first-quarter premiums indicates a 2% year-over-year decrease. While the consensus mark signals growth in Group Benefits adjusted revenues, the same from Retirement & Income Solutions is expected to decline in the first quarter.
Nevertheless, the consensus estimate indicates 2.9% year-over-year increase in adjusted earnings from the Retirement & Income Solutions segment. Adjusted earnings from Asia and EMEA regions are expected to grow 15.9% and 8.1% year over year, respectively.
Moreover, the consensus mark for net investment income predicts a 16.3% jump from the year-ago period, due to increased variable investment income.These are likely to have positioned the company for year-over-year growth in the bottom line and an earnings beat. The positives are likely to be partially offset by lower earnings from the Latin America business.
How Did Other Insurers Fare This Quarter?
Marsh & McLennan Companies, Inc. MRSH reported first-quarter 2026 adjusted earnings per share of $3.29, which surpassed the Zacks Consensus Estimate by 2.5%. Its strong quarterly results benefited from solid growth in the Risk and Insurance Services and Consulting unit, particularly from the Marsh Risk and Guy Carpenter businesses. The upside was partially offset by elevated operating expenses.
Story Continues
The Hartford Insurance Group, Inc. HIG posted first-quarter fiscal 2026 core earnings per share of $3.09, up 40.5% from $2.20 in the prior-year quarter. The figure missed the Zacks Consensus Estimate of $3.29 by 6.1% due to less favorable prior-year reserve development, higher expenses and pressure in Employee Benefits. The negatives were partially offset by high demand for expensive risk events, stronger investment income and a massive turnaround in HIG’s Personal Insurance unit.
AMERISAFE, Inc. AMSF reported first-quarter 2026 adjusted EPS of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income, affected AMERISAFE’s performance. Stronger premium growth partially offset the downside.
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- Amerisafe: Keeps Growing Into A Soft Market, But The Easy Comparisons Are Behind It
Apr 29, 2026 · seekingalpha.com
AMERISAFE delivered its eighth consecutive quarter of premium growth, with Q1 2026 net premiums up 9% to $75.1 million. Despite strong underwriting discipline and a 93.2% combined ratio, EPS declined year-over-year due to a normalization of the tax rate and rising loss ratios. Persistent industry rate softness and higher medical costs pressure AMSF's earnings outlook, warranting a Hold rating for patient investors.
- AMERISAFE (NASDAQ:AMSF) Shares Gap Down After Earnings Miss
Apr 24, 2026 · defenseworld.net
AMERISAFE, Inc. (NASDAQ: AMSF - Get Free Report)'s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $33.15, but opened at $29.90. AMERISAFE shares last traded at $30.09, with a volume of 14,694 shares trading hands. The insurance provider reported
