CNO Financial Group Inc (NYSE:CNO) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Tuesday, September 10th will be paid a dividend of 0.11 per share by the financial services provider on Tuesday, September 24th. This represents a $0.44 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, September 9th.
CNO Financial Group has increased its dividend by an average of 13.0% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. CNO Financial Group has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. 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 $0.44 annual dividend with an expected future payout ratio of 19.8%.
NYSE CNO traded down $0.17 during mid-day trading on Friday, reaching $15.68. 2,780 shares of the stock were exchanged, compared to its average volume of 1,089,918. CNO Financial Group has a one year low of $13.64 and a one year high of $22.19. The company has a 50 day moving average of $16.49. The stock has a market cap of $2.52 billion, a PE ratio of 8.57 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.25 and a current ratio of 0.25.
CNO Financial Group (NYSE:CNO) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. CNO Financial Group had a negative net margin of 9.67% and a positive return on equity of 7.71%. The business had revenue of $979.80 million during the quarter, compared to the consensus estimate of $956.66 million. During the same quarter last year, the firm earned $0.49 earnings per share. CNO Financial Group’s quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that CNO Financial Group will post 1.9 EPS for the current fiscal year.
Several equities research analysts have weighed in on CNO shares. Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating and set a $18.00 price target for the company. in a research note on Thursday, August 1st. ValuEngine raised shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. CNO Financial Group has an average rating of “Hold” and a consensus price target of $19.50.
In other CNO Financial Group news, EVP Matthew J. Zimpfer sold 15,112 shares of CNO Financial Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $16.51, for a total value of $249,499.12. Following the completion of the sale, the executive vice president now directly owns 149,504 shares of the company’s stock, valued at $2,468,311.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
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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