CNO Financial Group Inc (CNO) Increases Dividend to $0.09 Per Share
CNO Financial Group Inc (NYSE:CNO) declared a quarterly dividend on Thursday, May 11th. Stockholders of record on Friday, June 9th will be given a dividend of 0.09 per share by the financial services provider on Friday, June 23rd. This represents a $0.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, June 7th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.08.
CNO Financial Group has increased its dividend payment by an average of 41.3% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. CNO Financial Group has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNO Financial Group to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 19.4%.
CNO Financial Group (NYSE:CNO) traded up 0.76% on Thursday, hitting $21.33. 1,422,487 shares of the stock traded hands. The stock has a 50-day moving average of $20.69 and a 200-day moving average of $19.37. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 10.02 and a beta of 1.26. CNO Financial Group has a 12-month low of $14.30 and a 12-month high of $22.60.
CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. CNO Financial Group had a net margin of 8.99% and a return on equity of 5.40%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that CNO Financial Group will post $1.50 earnings per share for the current year.
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In other news, EVP Christopher J. Nickele sold 32,600 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $21.08, for a total value of $687,208.00. Following the transaction, the executive vice president now owns 80,158 shares of the company’s stock, valued at approximately $1,689,730.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John R. Kline sold 13,500 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $20.84, for a total transaction of $281,340.00. Following the completion of the transaction, the senior vice president now directly owns 54,796 shares in the company, valued at approximately $1,141,948.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,065 shares of company stock worth $2,115,404. Insiders own 2.20% of the company’s stock.
Several research firms have recently weighed in on CNO. Citigroup Inc began coverage on shares of CNO Financial Group in a report on Thursday, January 26th. They issued a “neutral” rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods set a $22.00 target price on shares of CNO Financial Group and gave the stock a “hold” rating in a report on Friday, March 17th. Wells Fargo & Co lowered shares of CNO Financial Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 11th. BTIG Research reaffirmed a “hold” rating on shares of CNO Financial Group in a report on Thursday, February 9th. Finally, Deutsche Bank AG upped their target price on shares of CNO Financial Group from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.63.
CNO Financial Group Company Profile
CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.
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