CNO Financial Group Inc (NYSE:CNO) declared a quarterly dividend on Monday, May 13th, Wall Street Journal reports. Investors of record on Monday, June 10th will be given a dividend of 0.11 per share by the financial services provider on Monday, June 24th. This represents a $0.44 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, June 7th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.10.
CNO Financial Group has raised its dividend payment by an average of 13.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. CNO Financial Group has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Analysts expect CNO Financial Group to earn $2.27 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.4%.
CNO traded up $0.27 during trading on Friday, reaching $16.68. The stock had a trading volume of 1,687,475 shares, compared to its average volume of 1,022,456. The firm’s 50-day moving average is $16.38. CNO Financial Group has a one year low of $13.64 and a one year high of $22.54. The stock has a market capitalization of $2.60 billion, a PE ratio of 9.11 and a beta of 1.27. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.67.
In related news, EVP Matthew J. Zimpfer sold 15,112 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $16.51, for a total transaction of $249,499.12. Following the completion of the sale, the executive vice president now owns 149,504 shares of the company’s stock, valued at $2,468,311.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles J. Jacklin purchased 7,000 shares of CNO Financial Group stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $16.47 per share, with a total value of $115,290.00. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.
Separately, ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.00.
CNO Financial Group Company Profile
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.
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