A month has gone by since the last earnings report for CNO Financial (CNO). Shares have added about 11.9% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is CNO due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. CNO Financial's Q3 Earnings Beat, Revenues Up Y/YCNO Financial’s third-quarter 2020 adjusted earnings per share of 79 cents beat the Zacks Consensus Estimate by 71.7%. The bottom line also improved 76% year over year.The company’s results have benefited from higher revenues, reduced costs and improved margin in health insurance products, partly offset by fall in annuity collected premiums.Moreover, the company’s total revenues increased 7.4% year over year to $1.01 billion driven by higher insurance policy income, improved income from policyholder and other special-purpose portfolios, and enhanced fee revenue and other income. The top line also outpaced the consensus mark by 18%.Quarterly Operational UpdateAnnuity collected premiums declined 12% year over year to $285.1 million due to pricing discipline.New annualized premiums for life and health products were $83.7 million, down 0.4% from the year-ago period.Total insurance policy income inched up 1% year over year to $628.3 million.Adjusted operating return on equity for the third quarter was 11.9%, expanding 130 basis points (bps) year over year.Total benefits and expenses fell 4.9% year over year to $847.1 million, primarily on account of lower insurance policy benefits, interest expense, and other operating costs and expenses.Financial UpdateUnrestricted cash and cash equivalents held by CNO Financial were $735.6 million as of Sep 30, 2020, up 26.8% from the level at 2019 end.As of Sep 30, 2020, total assets were $34.6 billion, up 2.8% from the level at 2019 end.Total shareholders’ equity of $5.1 billion as of Sep 30, 2020 increased 8.7% from the 2019-end level.Debt-to-capital was 16.3% as of Sep 30, 2020 compared with 17.5% at 2019 end.Securities Repurchase and Dividend UpdateIn the third quarter, the company returned $66.8 million in the form of share buybacks worth $50 million and dividends of $16.8 million. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates review. The consensus estimate has shifted 28.74% due to these changes.VGM ScoresAt this time, CNO has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, CNO has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CNO Financial Group, Inc. (CNO): Free Stock Analysis Report To read this article on Zacks.com click here.