CNO Financial Group Inc (NYSE:CNO) declared a quarterly dividend on Thursday, August 9th, Wall Street Journal reports. Shareholders of record on Monday, September 10th will be paid a dividend of 0.10 per share by the financial services provider on Monday, September 24th. This represents a $0.40 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, September 7th.
CNO Financial Group has raised its dividend payment by an average of 13.4% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. CNO Financial Group has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CNO Financial Group to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 18.0%.
Shares of NYSE:CNO opened at $21.81 on Thursday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 10.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.14 and a current ratio of 0.14. CNO Financial Group has a 52-week low of $18.65 and a 52-week high of $26.47.
CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. CNO Financial Group had a return on equity of 7.11% and a net margin of 5.12%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. equities research analysts anticipate that CNO Financial Group will post 1.97 earnings per share for the current year.
CNO has been the topic of several recent research reports. B. Riley cut their price target on CNO Financial Group from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, June 12th. Morgan Stanley reiterated an “equal weight” rating on shares of CNO Financial Group in a report on Thursday, May 31st. Zacks Investment Research upgraded CNO Financial Group from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 price target on shares of CNO Financial Group in a report on Friday, August 17th. Finally, ValuEngine upgraded CNO Financial Group from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.80.
In other news, EVP Bruce K. Baude sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $22.17, for a total value of $731,610.00. Following the transaction, the executive vice president now owns 52,047 shares in the company, valued at $1,153,881.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.
About CNO Financial Group
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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