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

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

CNO Financial Group has raised its dividend payment by an average of 0.1%per year 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. 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 Price Performance

Shares of NYSE CNO opened at $43.04 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.17 and a quick ratio of 0.18. The firm has a market capitalization of $4.10 billion, a PE ratio of 19.30 and a beta of 0.84. CNO Financial Group has a 1-year low of $34.63 and a 1-year high of $44.85. The business’s fifty day moving average price is $42.26 and its two-hundred day moving average price is $40.36.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.27. CNO Financial Group had a net margin of 4.94% and a return on equity of 15.80%. The company had revenue of $101.10 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts expect that CNO Financial Group will post 3.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on CNO shares. Weiss Ratings restated a “buy (b)” rating on shares of CNO Financial Group in a research report on Wednesday, January 21st. Wall Street Zen downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler increased their price objective on CNO Financial Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group raised CNO Financial Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $42.00 to $47.00 in a research note on Monday, December 15th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.