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

CNO Financial Group, Inc. (NYSE:CNO) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid 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 yield of 2.31%. The ex-dividend date of this dividend is Monday, June 10th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15.

CNO Financial Group has raised its dividend payment by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 11 consecutive years.

CNO Financial Group Stock Up 2.2 %

NYSE:CNO traded up $0.59 during trading hours on Monday, reaching $27.70. The company’s stock had a trading volume of 780,219 shares, compared to its average volume of 757,184. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 7.90 and a beta of 1.03. CNO Financial Group has a one year low of $20.78 and a one year high of $28.39. The business’s 50-day moving average is $26.61 and its 200-day moving average is $26.40. 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 issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). CNO Financial Group had a return on equity of 16.77% and a net margin of 9.07%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $935.76 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts predict that CNO Financial Group will post 3.1 EPS for the current year.

Insider Activity at CNO Financial Group

In related news, insider Karen Detoro sold 2,778 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $27.10, for a total value of $75,283.80. Following the completion of the transaction, the insider now owns 69,605 shares of the company’s stock, valued at $1,886,295.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Karen Detoro sold 2,778 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $27.10, for a total transaction of $75,283.80. Following the completion of the sale, the insider now owns 69,605 shares of the company’s stock, valued at $1,886,295.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Rocco F. Tarasi III sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.50, for a total transaction of $82,500.00. Following the sale, the chief marketing officer now directly owns 88,077 shares of the company’s stock, valued at approximately $2,422,117.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,590 shares of company stock worth $4,116,255. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

About CNO Financial Group

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.