CNO Financial Group, Inc. (CNO) to Issue Quarterly Dividend of $0.16 on December 24th

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

CNO Financial Group has increased its dividend by an average of 7.9% per year over the last three years and has increased 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. Equities research 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 Financial Group stock opened at $38.96 on Friday. The stock’s fifty day moving average is $35.40 and its 200 day moving average is $31.73. CNO Financial Group has a one year low of $24.92 and a one year high of $40.29. 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 stock has a market cap of $4.02 billion, a P/E ratio of 15.71 and a beta of 1.01.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. CNO Financial Group had a return on equity of 17.53% and a net margin of 6.06%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $945.44 million. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 19.2% on a year-over-year basis. Sell-side analysts anticipate that CNO Financial Group will post 3.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeremy David Williams sold 4,783 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.09, for a total transaction of $191,750.47. Following the sale, the insider now owns 62,121 shares in the company, valued at approximately $2,490,430.89. This represents a 7.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $34.26, for a total transaction of $186,203.10. Following the transaction, the insider now owns 37,663 shares in the company, valued at $1,290,334.38. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,582 shares of company stock valued at $565,050 in the last quarter. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.