CNO Financial Group, Inc. (NYSE:CNO) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Monday, December 11th will be given a dividend of 0.09 per share by the financial services provider on Tuesday, December 26th. This represents a $0.36 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, December 8th.
CNO Financial Group has raised its dividend payment by an average of 41.3% per year over the last three years and has raised its dividend every year for the last 4 years. CNO Financial Group has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect CNO Financial Group to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 22.1%.
CNO Financial Group (CNO) opened at $23.79 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $3,942.41, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. CNO Financial Group has a 52 week low of $17.47 and a 52 week high of $25.07.
CNO Financial Group (NYSE:CNO) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1 billion. CNO Financial Group had a return on equity of 5.88% and a net margin of 11.41%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share. sell-side analysts forecast that CNO Financial Group will post 1.65 EPS for the current year.
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Several brokerages have commented on CNO. Wells Fargo & Company set a $22.00 target price on CNO Financial Group and gave the stock a “hold” rating in a research note on Wednesday, October 25th. The Goldman Sachs Group, Inc. initiated coverage on CNO Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $24.00 target price for the company. Zacks Investment Research downgraded CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. B. Riley reaffirmed a “buy” rating on shares of CNO Financial Group in a research note on Monday, November 6th. Finally, Morgan Stanley downgraded CNO Financial Group from an “equal weight” rating to an “underweight” rating and set a $21.00 price objective for the company. in a research note on Monday, August 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.25.
About CNO Financial Group
CNO Financial Group, Inc is a holding company for a group of insurance companies operating throughout the United States that develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company’s segments include Bankers Life, Washington National and Colonial Penn.
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