CNO Financial Group Inc (NYSE:CNO) announced 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 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 8th.
CNO Financial Group has increased its dividend payment by an average of 13.4% annually 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% meaning its dividend is sufficiently covered by earnings. 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%.
CNO Financial Group (NYSE CNO) traded down $0.08 during mid-day trading on Wednesday, reaching $22.69. The company had a trading volume of 109,374 shares, compared to its average volume of 1,123,628. The stock has a market capitalization of $3,731.35, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.12 and a beta of 1.14. CNO Financial Group has a 12-month low of $19.37 and a 12-month high of $26.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.15 and a current ratio of 0.15.
Several research firms recently weighed in on CNO. William Blair started coverage on CNO Financial Group in a research note on Monday. They set an “outperform” rating for the company. ValuEngine upgraded CNO Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 price objective on shares of CNO Financial Group in a research note on Thursday, December 21st. Finally, Wells Fargo & Co set a $25.00 price objective on CNO Financial Group and gave the company a “hold” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. CNO Financial Group presently has a consensus rating of “Buy” and an average target price of $24.17.
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CNO Financial Group Company Profile
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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