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

CNO Financial Group, Inc. (NYSE:CNO) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 0.16 per share by the financial services provider on Monday, March 24th. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%.

CNO Financial Group has increased its dividend by an average of 7.3% annually over the last three years. CNO Financial Group has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CNO Financial Group to earn $4.15 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 15.4%.

CNO Financial Group Stock Down 1.0 %

CNO Financial Group stock opened at $40.59 on Thursday. The business’s 50-day simple moving average is $38.34 and its two-hundred day simple moving average is $36.32. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market cap of $4.19 billion, a PE ratio of 10.85 and a beta of 1.04. CNO Financial Group has a fifty-two week low of $24.92 and a fifty-two week high of $41.54.

CNO Financial Group (NYSE:CNO) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.21% and a net margin of 9.08%. Equities analysts anticipate that CNO Financial Group will post 3.79 EPS for the current year.

Insider Buying and Selling at CNO Financial Group

In related news, CIO Eric R. Johnson sold 3,978 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $39.09, for a total transaction of $155,500.02. Following the completion of the transaction, the executive now owns 631,844 shares in the company, valued at $24,698,781.96. This represents a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Rocco F. Tarasi III sold 1,484 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $38.02, for a total value of $56,421.68. Following the completion of the transaction, the chief marketing officer now directly owns 79,896 shares of the company’s stock, valued at approximately $3,037,645.92. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,962 shares of company stock valued at $380,717. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNO. BMO Capital Markets initiated coverage on shares of CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $46.00 target price (up previously from $44.00) on shares of CNO Financial Group in a research note on Monday. Royal Bank of Canada lifted their price target on CNO Financial Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price objective on shares of CNO Financial Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.50.

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.