CNO Financial Group, Inc. (NYSE:CNO) Plans $0.17 Quarterly Dividend

CNO Financial Group, Inc. (NYSE:CNO) announced a quarterly dividend on Wednesday, February 11th. Shareholders of record on Tuesday, March 10th will be paid a dividend of 0.17 per share by the financial services provider on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, March 10th.

CNO Financial Group has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. CNO Financial Group has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CNO Financial Group to earn $4.26 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 16.0%.

CNO Financial Group Trading Down 0.0%

Shares of NYSE:CNO opened at $43.04 on Thursday. The company has a market capitalization of $4.10 billion, a PE ratio of 19.30 and a beta of 0.84. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 1.43. CNO Financial Group has a 12-month low of $34.63 and a 12-month high of $44.85. The business’s fifty day simple moving average is $42.26 and its 200-day simple moving average is $40.36.

CNO Financial Group (NYSE:CNO) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. CNO Financial Group had a return on equity of 15.80% and a net margin of 4.94%.The firm had revenue of $101.10 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business posted $1.18 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that CNO Financial Group will post 3.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNO has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and raised their price target for the company from $42.00 to $47.00 in a report on Monday, December 15th. Piper Sandler lifted their price target on shares of CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, CNO Financial Group has a consensus rating of “Moderate Buy” and an average price target of $47.33.

CNO Financial Group Company Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.