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

CNO Financial Group, Inc. (NYSE:CNO) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Tuesday, September 10th will be paid a dividend of 0.16 per share by the financial services provider on Tuesday, September 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, September 10th.

CNO Financial Group has raised its dividend by an average of 7.9% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. CNO Financial Group has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect CNO Financial Group to earn $3.65 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 17.5%.

CNO Financial Group Price Performance

CNO opened at $32.93 on Friday. CNO Financial Group has a 52-week low of $22.27 and a 52-week high of $35.45. The company has a 50 day moving average of $31.52 and a two-hundred day moving average of $28.69. The company has a market cap of $3.57 billion, a P/E ratio of 9.60 and a beta of 1.01. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.66.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.33. CNO Financial Group had a net margin of 9.96% and a return on equity of 18.30%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $929.99 million. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, analysts expect that CNO Financial Group will post 3.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNO has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on CNO Financial Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. 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 research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on shares of CNO Financial Group from $30.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler boosted their price objective on shares of CNO Financial Group from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. One 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, CNO Financial Group has an average rating of “Hold” and an average price target of $30.60.

Insider Buying and Selling

In other CNO Financial Group news, insider Jeanne L. Linnenbringer sold 5,435 shares of the 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 directly owns 37,663 shares in the company, valued at approximately $1,290,334.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jeanne L. Linnenbringer sold 5,435 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $34.26, for a total value of $186,203.10. Following the completion of the sale, the insider now directly owns 37,663 shares of the company’s stock, valued at $1,290,334.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $34.88, for a total value of $187,096.32. Following the transaction, the insider now directly owns 44,884 shares in the company, valued at approximately $1,565,553.92. The disclosure for this sale can be found here. 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.