CNO Financial Group, Inc. (NYSE:CNO – Get Free Report) declared a quarterly dividend on Tuesday, February 13th, Zacks reports. Stockholders of record on Friday, March 8th will be paid a dividend of 0.15 per share by the financial services provider on Friday, March 22nd. This represents a $0.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, March 7th.
CNO Financial Group has increased its dividend by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. CNO Financial Group has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect CNO Financial Group to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 17.6%.
CNO Financial Group Price Performance
CNO opened at $26.71 on Tuesday. The stock has a 50-day moving average price of $27.18 and a 200-day moving average price of $25.47. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $2.91 billion, a PE ratio of 11.08 and a beta of 1.03. CNO Financial Group has a 1 year low of $19.95 and a 1 year high of $28.39.
Analyst Ratings Changes
CNO has been the subject of a number of recent research reports. StockNews.com upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Royal Bank of Canada boosted their price target on CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Evercore ISI boosted their price target on CNO Financial Group from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.80.
Read Our Latest Stock Analysis on CNO
Insider Transactions at CNO Financial Group
In other news, EVP Matthew J. Zimpfer sold 3,220 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $26.76, for a total transaction of $86,167.20. Following the sale, the executive vice president now directly owns 278,997 shares of the company’s stock, valued at approximately $7,465,959.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Matthew J. Zimpfer sold 3,220 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $26.76, for a total transaction of $86,167.20. Following the sale, the executive vice president now directly owns 278,997 shares of the company’s stock, valued at approximately $7,465,959.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John R. Kline sold 5,757 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $27.07, for a total value of $155,841.99. Following the sale, the chief accounting officer now directly owns 64,730 shares in the company, valued at $1,752,241.10. The disclosure for this sale can be found here. Insiders have sold 12,197 shares of company stock valued at $328,853 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.
Institutional Trading of CNO Financial Group
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors raised its holdings in CNO Financial Group by 51.8% during the 2nd quarter. Captrust Financial Advisors now owns 14,437 shares of the financial services provider’s stock valued at $261,000 after buying an additional 4,929 shares during the period. Prelude Capital Management LLC purchased a new stake in CNO Financial Group during the 4th quarter valued at $246,000. Lazard Asset Management LLC raised its holdings in CNO Financial Group by 522.3% during the 4th quarter. Lazard Asset Management LLC now owns 10,449 shares of the financial services provider’s stock valued at $238,000 after buying an additional 8,770 shares during the period. United Services Automobile Association purchased a new stake in CNO Financial Group during the 2nd quarter valued at $232,000. Finally, Verition Fund Management LLC purchased a new stake in CNO Financial Group during the 2nd quarter valued at $232,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.
About CNO Financial Group
CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.
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