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

CNO Financial Group, Inc. (NYSE:CNO) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be given a dividend of 0.16 per share by the financial services provider on Monday, June 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, June 10th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.15.

CNO Financial Group has increased its dividend payment by an average of 7.9% per year over the last three years and has raised its dividend every year for the last 11 years.

CNO Financial Group Stock Performance

Shares of CNO Financial Group stock traded up $0.59 on Monday, reaching $27.70. 780,219 shares of the company traded hands, compared to its average volume of 757,184. CNO Financial Group has a 52 week low of $20.78 and a 52 week high of $28.39. The company has a 50 day moving average of $26.61 and a 200 day moving average of $26.40. The firm has a market capitalization of $3.02 billion, a PE ratio of 7.90 and a beta of 1.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.18 and a quick ratio of 0.19.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $935.76 million. CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Equities analysts forecast that CNO Financial Group will post 3.1 earnings per share for the current year.

Insider Activity

In other news, CEO Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.31, for a total transaction of $551,662.00. Following the sale, the chief executive officer now owns 293,802 shares in the company, valued at approximately $8,023,732.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Karen Detoro sold 1,282 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.00, for a total transaction of $34,614.00. Following the transaction, the insider now owns 79,057 shares of the company’s stock, valued at approximately $2,134,539. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gary C. Bhojwani sold 20,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.31, for a total transaction of $551,662.00. Following the transaction, the chief executive officer now directly owns 293,802 shares in the company, valued at approximately $8,023,732.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,590 shares of company stock worth $4,116,255. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler upgraded shares of CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price target on the stock in a research note on Tuesday, April 16th. Evercore ISI upped their price target on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a research note on Wednesday, February 28th. StockNews.com cut shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada increased their target price on shares of CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.50.

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.