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

CNO Financial Group, Inc. (NYSE:CNO) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.16 per share by the financial services provider on Monday, March 24th. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%.

CNO Financial Group has increased its dividend payment by an average of 7.3% per year over the last three years. CNO Financial Group has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CNO Financial Group to earn $4.15 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 15.4%.

CNO Financial Group Stock Performance

CNO Financial Group stock opened at $40.59 on Thursday. The firm has a 50 day simple moving average of $38.34 and a 200-day simple moving average of $36.32. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 10.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. CNO Financial Group has a 1-year low of $24.92 and a 1-year high of $41.54.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. CNO Financial Group had a return on equity of 17.21% and a net margin of 9.08%. On average, analysts expect that CNO Financial Group will post 3.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNO. BMO Capital Markets assumed coverage on shares of CNO Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $38.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of CNO Financial Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group lifted their target price on shares of CNO Financial Group from $36.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Piper Sandler restated an “overweight” rating and set a $46.00 price target (up from $44.00) on shares of CNO Financial Group in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their target price on CNO Financial Group from $42.00 to $44.00 and gave the company a “market perform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.50.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, CIO Eric R. Johnson sold 3,978 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $39.09, for a total transaction of $155,500.02. Following the transaction, the executive now owns 631,844 shares of the company’s stock, valued at approximately $24,698,781.96. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Rocco F. Tarasi III sold 1,484 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $38.02, for a total value of $56,421.68. Following the completion of the sale, the chief marketing officer now directly owns 79,896 shares of the company’s stock, valued at approximately $3,037,645.92. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,962 shares of company stock valued at $380,717. 3.00% of the stock is currently owned by corporate insiders.

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.