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

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 dividend payout ratio of 17.2% meaning 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 Stock Down 0.2 %

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

CNO Financial Group (NYSE:CNO) last posted its quarterly 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $945.44 million. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, research analysts anticipate that CNO Financial Group will post 3.63 EPS for the current year.

Insider Activity

In other news, insider Jeanne L. Linnenbringer sold 5,435 shares of the stock in a transaction that occurred on 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 approximately $1,290,334.38. This represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeremy David Williams sold 4,783 shares of CNO Financial Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $40.09, for a total transaction of $191,750.47. Following the completion of the transaction, the insider now directly owns 62,121 shares in the company, valued at $2,490,430.89. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,582 shares of company stock worth $565,050. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

CNO has been the topic of a number of recent research reports. 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 note on Monday, November 4th. Piper Sandler raised their price objective on shares of CNO Financial Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, 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 note on Wednesday, July 31st. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.