CNO Financial Group (NYSE:CNO) announced a quarterly dividend on Thursday, May 10th, Wall Street Journal reports. Stockholders of record on Monday, June 11th will be given a dividend of 0.10 per share by the financial services provider on Monday, June 25th. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, June 8th. This is a boost from CNO Financial Group’s previous quarterly dividend of $0.09.
CNO Financial Group has raised its dividend payment by an average of 13.4% per year over the last three years and has increased its dividend every year for the last 5 years. CNO Financial Group has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CNO Financial Group to earn $2.19 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 16.4%.
Get CNO Financial Group alerts:CNO Financial Group opened at $20.38 on Friday, MarketBeat reports. CNO Financial Group has a 52-week low of $19.37 and a 52-week high of $26.47. The firm has a market capitalization of $3.34 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.55.
CNO Financial Group (NYSE:CNO) last released its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. CNO Financial Group had a net margin of 4.67% and a return on equity of 6.92%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. research analysts anticipate that CNO Financial Group will post 2.02 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating on shares of CNO Financial Group in a research report on Thursday. Zacks Investment Research lowered shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. ValuEngine lowered shares of CNO Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Wells Fargo & Co set a $23.00 price objective on shares of CNO Financial Group and gave the stock a “hold” rating in a research report on Wednesday, April 25th. Finally, William Blair assumed coverage on shares of CNO Financial Group in a research report on Monday, March 12th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.00.
About CNO Financial Group
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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