CNO Financial Group Inc Announces Quarterly Dividend of $0.10 (CNO)
CNO Financial Group Inc (NYSE:CNO) announced a quarterly dividend on Friday, November 16th, Wall Street Journal reports. Investors of record on Monday, December 10th will be paid a dividend of 0.10 per share by the financial services provider on Monday, December 24th. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 7th.
CNO Financial Group has raised its dividend payment by an average of 13.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. CNO Financial Group has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CNO Financial Group to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 18.2%.
CNO traded down $0.36 on Friday, hitting $18.43. 1,008,900 shares of the company’s stock traded hands, compared to its average volume of 1,029,610. The company has a market capitalization of $3.19 billion, a PE ratio of 9.12 and a beta of 1.14. CNO Financial Group has a one year low of $18.15 and a one year high of $26.47. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.71.
In other news, EVP Matthew J. Zimpfer sold 17,417 shares of CNO Financial Group stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $18.46, for a total value of $321,517.82. Following the completion of the transaction, the executive vice president now owns 137,580 shares in the company, valued at approximately $2,539,726.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen N. David bought 2,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was bought at an average price of $18.50 per share, with a total value of $37,000.00. Following the acquisition, the director now owns 19,706 shares in the company, valued at approximately $364,561. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.
Several brokerages recently issued reports on CNO. Zacks Investment Research raised CNO Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price objective on shares of CNO Financial Group in a research note on Friday, August 17th. ValuEngine raised CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Monday. Finally, TheStreet downgraded CNO Financial Group from a “b” rating to a “c” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.75.
COPYRIGHT VIOLATION WARNING: “CNO Financial Group Inc Announces Quarterly Dividend of $0.10 (CNO)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2018/11/16/cno-financial-group-inc-announces-quarterly-dividend-of-0-10-cno.html.
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.
Featured Article: What is the yield curve?
Receive News & Ratings for CNO Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNO Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.