CNO Financial Group, Inc. (NYSE:CNO) Declares $0.18 Quarterly Dividend

CNO Financial Group, Inc. (NYSE:CNO) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Thursday, September 10th will be paid a dividend of 0.18 per share by the financial services provider on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th.

CNO Financial Group has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. CNO Financial Group has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Analysts expect CNO Financial Group to earn $4.95 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 14.5%.

CNO Financial Group Stock Performance

Shares of CNO opened at $55.59 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.65. CNO Financial Group has a 12 month low of $35.81 and a 12 month high of $57.59. The firm has a fifty day simple moving average of $51.49 and a 200 day simple moving average of $45.90. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 19.10 and a beta of 0.81.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.29. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Research analysts forecast that CNO Financial Group will post 4.61 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer directly owned 174,264 shares of the company’s stock, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $287,500.00. Following the sale, the chief marketing officer directly owned 79,191 shares in the company, valued at $3,959,550. This trade represents a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 95,106 shares of company stock worth $4,879,343. Company insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On CNO Financial Group

Several hedge funds have recently bought and sold shares of CNO. Royal Bank of Canada grew its position in CNO Financial Group by 29.5% in the first quarter. Royal Bank of Canada now owns 176,059 shares of the financial services provider’s stock worth $7,332,000 after acquiring an additional 40,054 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CNO Financial Group by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,757 shares of the financial services provider’s stock worth $2,531,000 after buying an additional 797 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of CNO Financial Group by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 376,747 shares of the financial services provider’s stock worth $15,692,000 after acquiring an additional 20,728 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of CNO Financial Group by 146.4% in the 1st quarter. Jane Street Group LLC now owns 149,159 shares of the financial services provider’s stock valued at $6,212,000 after purchasing an additional 88,619 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in CNO Financial Group by 637.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,438 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,243 shares during the period. 95.43% of the stock is currently owned by institutional investors.

About CNO Financial Group

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.