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

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders 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 yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 10th.

CNO Financial Group has raised its dividend payment 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 payout ratio of 17.2% meaning 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 Stock Down 0.3 %

Shares of CNO traded down $0.12 during mid-day trading on Friday, hitting $38.93. 310,595 shares of the company's stock were exchanged, compared to its average volume of 739,891. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 15.77 and a beta of 1.01. The stock's 50-day moving average is $35.28 and its 200-day moving average is $31.64. CNO Financial Group has a fifty-two week low of $24.92 and a fifty-two week high of $40.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.19 and a current ratio of 0.19.

CNO Financial Group (NYSE:CNO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.29. CNO Financial Group had a net margin of 6.06% and a return on equity of 17.53%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $945.44 million. During the same period in the previous year, the company earned $0.88 EPS. The company's revenue for the quarter was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that CNO Financial Group will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at CNO Financial Group

In other CNO Financial Group news, insider Jeremy David Williams sold 4,783 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $40.09, for a total value of $191,750.47. Following the transaction, the insider now directly owns 62,121 shares of the company's stock, valued at $2,490,430.89. This represents a 7.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanne L. Linnenbringer sold 5,364 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $34.88, for a total value of $187,096.32. Following the completion of the sale, the insider now directly owns 44,884 shares of the company's stock, valued at approximately $1,565,553.92. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,582 shares of company stock valued at $565,050. Insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

CNO has been the topic of several analyst reports. Piper Sandler raised their price objective on CNO Financial Group from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their price target on CNO Financial Group from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Finally, Evercore ISI boosted their price objective on 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CNO Financial Group presently has a consensus rating of "Hold" and a consensus 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.

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