Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of insurance holding company CNO Financial (NYSE: CNO) surged more than 12% in early trading today after reporting fourth-quarter results that beat Wall Street estimates.

So what: Revenue rose 2% to $1.08 billion. Adjusted profit also rose 2%, to $0.18 per share. Analysts were expecting $993.176 million and $0.16 a share, respectively.

Now what: Insurance results are almost never smooth, but CNO helps itself by diversifying. Partners include Coventry Health Care (NYSE: CVH) for prescription drugs and Humana (NYSE: HUM) for Medicare programs. Investors don't seem to care yet. The stock trades for a relatively microscopic 0.39 price-to-sales ratio and 13 times earnings. Both figures are well below industry averages, according to data at Yahoo! Finance.

Interested in more info on CNO Financial? Add it to your watchlist.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.