CNO Financial Group, Inc. (NYSE:CNO) Declares Quarterly Dividend of $0.16

CNO Financial Group, Inc. (NYSE:CNO) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Tuesday, December 10th will be given a dividend of 0.16 per share by the financial services provider on Tuesday, December 24th. This represents a $0.64 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 10th.

CNO Financial Group has raised its dividend payment by an average of 7.9% annually over the last three years and has raised its dividend every year for the last 12 years. CNO Financial Group has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect CNO Financial Group to earn $3.71 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 17.3%.

CNO Financial Group Price Performance

Shares of CNO traded down $0.09 during mid-day trading on Friday, hitting $38.96. The company’s stock had a trading volume of 500,789 shares, compared to its average volume of 740,748. The firm has a 50-day simple moving average of $35.28 and a 200 day simple moving average of $31.64. CNO Financial Group has a 1-year low of $24.92 and a 1-year high of $40.29. The firm has a market capitalization of $4.02 billion, a P/E ratio of 15.70 and a beta of 1.01. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.50.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business’s revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Analysts predict that CNO Financial Group will post 3.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price target on shares of CNO Financial Group from $27.00 to $29.00 and gave the company an “underperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on CNO Financial Group from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Piper Sandler raised their price target on CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.50.

Insider Activity

In other news, insider Jeremy David Williams sold 4,783 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $40.09, for a total value of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares in the company, valued at approximately $2,490,430.89. This represents a 7.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $34.26, for a total transaction of $186,203.10. Following the completion of the transaction, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. This represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,582 shares of company stock valued at $565,050 in the last ninety days. Company insiders own 3.00% of the company’s stock.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.