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Dividend Payment CNO Financial Group: CNO Financial Group’s Dividend Declaration Sends Waves
A $0.15 dividend per share, to be paid on September 22nd, has been declared by the board of directors of CNO Financial Group, Inc. (NYSE: CNO). This translates into an annual payment that is in line with the industry standard at 2.4% of the current stock price.
Although it’s crucial to take into account whether dividend payments are feasible, CNO Financial Group has been able to cover the dividend thanks to its cash flow, even though its profits haven’t entirely covered it. This implies that when determining the dividend, the company’s cash situation should be given more weight than accounting measurements of profit.
Analysts predict that profits per share will rise significantly in the upcoming year, possibly resulting in a sustainable payout ratio of 19%. The CNO Financial Group has a history of consistently paying dividends with little variance, which is strengthened by this optimistic prognosis for earnings growth. The annual payout has increased from $0.08 to $0.60 since 2013, representing a yearly growth rate of over 22%.
Decoding the Average Rating for CNO Financial Group, Inc.
The five research companies that are currently monitoring CNO Financial Group, Inc. have all recommended “Hold” as a consensus. Four equity research analysts have assigned the stock a hold rating, and one has given the firm a buy rating. Among brokerages that have covered the stock in the previous year, the average 12-month price objective is $25.50.
In a research report published on Thursday, a number of equities analysts started covering shares of CNO Financial Group. They assigned the corporation a “hold” grade. In a report released on August 2nd, Royal Bank of Canada lowered their target price on shares of CNO Financial Group from $30.00 to $29.00 and assigned the stock a “outperform” rating.
In a report published on Thursday, June 29th, Raymond James finally started covering shares of CNO Financial Group. The stock was given a “market perform” rating.
Financial Performance of CNO Group
On Friday, CNO stock began trading at $23.40. The company’s 50-day and 200-day simple moving averages are $24.06 and $23.37, respectively. The market capitalization of the stock is $2.64 billion, the price-to-earnings ratio is 12.25, and the beta is 1.14. CNO Financial Group’s 1-year low and 1-year high prices are $17.48 and $26.35, respectively. The debt-to-equity ratio is 1.49, the current ratio is 0.19, and the quick ratio is also 0.19 for the company.
Trading From Within
Other news includes the sale on Tuesday, June 20th, of 2,000 shares of company stock by CMO Rocco F. Tarasi III. After having been sold at an average value of $22.84, the shares were worth a total of $45,680.00. The transaction resulted in the chief marketing officer now directly owning 77,468 shares in the business, valued at about $1,769,369.12.
The SEC website has a copy of the legal file in which the transaction was revealed. Insiders have sold 3,500 shares of company stock worth $83,555 over the past three months. Insiders now own 3.00% of the stock.
A View From Institutional Investors On CNO Financial Group
The company’s holdings with several institutional investors have lately changed. In the second quarter, Nuveen Asset Management LLC increased its holdings in shares of CNO Financial Group by 1.1%. Nuveen Asset Management LLC now owns 551,015 shares of the monetary services vendor’s stock valued at $13,043,000 after acquiring an additional 5,804 shares during the last quarter.
In the second quarter, Wells Fargo & Company MN increased its holdings in CNO Financial Group by 98.5%. Following the acquisition of 25,980 additional shares during the most recent quarter, Wells Fargo & Company MN now directly owns 52,353 shares in the financial services provider, valued at $1,239,000. In the second quarter, Bragg Financial Advisors Inc. increased its holdings in shares of CNO Financial Group by 0.4%.
Regarding CNO Financial Group
Through its subsidiaries, CNO Financial Group, Inc. creates, markets, and manages health insurance, annuities, individual life insurance, insurance products, and financial services for senior and middle-class consumers in the US.
It provides people with Medicare benefit plans, supplemental health, long-term care, and life insurance policies, as well as annuities, via the phone, online, by mail, and in person.
