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

CNO Financial Group, Inc. (NYSE:CNO) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Tuesday, December 10th will be given a dividend of 0.16 per share by the financial services provider on Tuesday, December 24th. This represents a $0.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 10th.

CNO Financial Group has increased its dividend payment by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. CNO Financial Group has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. 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

CNO Financial Group stock traded down $0.12 during trading hours on Friday, hitting $38.93. 310,595 shares of the stock were exchanged, compared to its average volume of 739,891. 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 business’s 50-day moving average is $35.28 and its two-hundred day moving average is $31.64. CNO Financial Group has a 12 month low of $24.92 and a 12 month high of $40.29. The stock has a market capitalization of $4.02 billion, a P/E ratio of 15.77 and a beta of 1.01.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at CNO Financial Group

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