CNO Financial Group, Inc. (NYSE:CNO) Increases Dividend to $0.16 Per Share

CNO Financial Group, Inc. (NYSE:CNOGet Free Report) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid a dividend of 0.16 per share by the financial services provider on Monday, June 24th. This represents a $0.64 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.15.

CNO Financial Group has raised its dividend payment by an average of 7.9% per year over the last three years and has raised its dividend every year for the last 12 years. CNO Financial Group has a dividend payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CNO Financial Group to earn $3.48 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 18.4%.

CNO Financial Group Trading Down 1.0 %

Shares of CNO stock opened at $27.61 on Friday. CNO Financial Group has a 1 year low of $22.06 and a 1 year high of $29.09. The firm’s fifty day simple moving average is $27.30 and its 200 day simple moving average is $27.10. The firm has a market capitalization of $2.99 billion, a P/E ratio of 8.05 and a beta of 1.05. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.41.

CNO Financial Group (NYSE:CNOGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $935.76 million. During the same quarter in the prior year, the company posted $0.51 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that CNO Financial Group will post 3.08 EPS for the current year.

Insiders Place Their Bets

In other CNO Financial Group news, insider Karen Detoro sold 1,282 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.00, for a total transaction of $34,614.00. Following the sale, the insider now owns 79,057 shares of the company’s stock, valued at approximately $2,134,539. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CNO Financial Group news, insider Michael E. Mead sold 5,013 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.85, for a total transaction of $144,625.05. Following the transaction, the insider now directly owns 36,522 shares in the company, valued at approximately $1,053,659.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karen Detoro sold 1,282 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.00, for a total transaction of $34,614.00. Following the transaction, the insider now owns 79,057 shares in the company, valued at $2,134,539. The disclosure for this sale can be found here. Insiders have sold a total of 150,752 shares of company stock valued at $4,121,538 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective for the company in a research note on Tuesday, April 16th. Finally, Evercore ISI increased their price objective on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.50.

View Our Latest Stock Analysis on CNO Financial Group

CNO Financial Group Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for CNO Financial Group (NYSE:CNO)

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