CNO Financial Group Inc (NYSE:CNO) declared a quarterly dividend on Thursday, February 22nd, Wall Street Journal reports. Investors of record on Friday, March 9th will be given a dividend of 0.09 per share by the financial services provider on Friday, March 23rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, March 8th.
CNO Financial Group has raised its dividend by an average of 13.4% annually over the last three years and has raised its dividend every year for the last 5 years. CNO Financial Group has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNO Financial Group to earn $2.15 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 16.7%.
Shares of CNO Financial Group (NYSE CNO) traded down $0.50 during mid-day trading on Thursday, reaching $22.83. 985,729 shares of the company’s stock were exchanged, compared to its average volume of 1,141,666. The company has a market cap of $3,862.76, a price-to-earnings ratio of 23.10, a PEG ratio of 1.16 and a beta of 1.10. The company has a quick ratio of 0.16, a current ratio of 0.15 and a debt-to-equity ratio of 0.53. CNO Financial Group has a fifty-two week low of $19.37 and a fifty-two week high of $26.47.
A number of analysts have commented on CNO shares. Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, January 10th. B. Riley restated a “buy” rating on shares of CNO Financial Group in a research note on Monday, November 6th. Wells Fargo & Co set a $25.00 price target on shares of CNO Financial Group and gave the company a “hold” rating in a research note on Tuesday, February 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price target on shares of CNO Financial Group in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.17.
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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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