CNO Financial Group, Inc. Announces Quarterly Dividend of $0.18 (NYSE:CNO)

Key Points

• CNO Financial Group declared a quarterly dividend of $0.18 per share, payable September 24 to shareholders of record on September 10. The dividend implies an annualized payout of $0.72 and a 1.3% yield.
• The dividend appears well covered, with a current payout ratio of 17% and an expected future payout ratio of 14.5%. CNO has raised its dividend for two consecutive years.
• CNO reported quarterly earnings of $1.26 per share, surpassing estimates of $0.97, while revenue rose 11.6% year over year to $1.29 billion. Institutional investors own 95.43% of the company, while insiders sold approximately $4.9 million of stock over the past 90 days.

CNO Financial Group, Inc. (NYSE:CNO - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Thursday, September 10th will be paid a dividend of 0.18 per share by the financial services provider on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th.

CNO Financial Group has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. CNO Financial Group has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNO Financial Group to earn $4.95 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 14.5%.

CNO Financial Group Price Performance

Shares of CNO opened at $55.59 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.17 and a current ratio of 0.17. CNO Financial Group has a fifty-two week low of $35.81 and a fifty-two week high of $57.59. The firm has a 50-day simple moving average of $51.49 and a 200-day simple moving average of $45.90. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 19.10 and a beta of 0.81.

CNO Financial Group (NYSE:CNO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.29. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $999.45 million. CNO Financial Group had a return on equity of 18.76% and a net margin of 6.02%.The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. On average, equities research analysts anticipate that CNO Financial Group will post 4.61 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gary C. Bhojwani sold 86,048 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total value of $4,429,751.04. Following the sale, the chief executive officer owned 174,264 shares of the company's stock, valued at approximately $8,971,110.72. This represents a 33.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Rocco F. Tarasi III sold 5,750 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $287,500.00. Following the transaction, the chief marketing officer directly owned 79,191 shares of the company's stock, valued at $3,959,550. The trade was a 6.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC increased its position in shares of CNO Financial Group by 0.3% in the first quarter. Pzena Investment Management LLC now owns 2,470,921 shares of the financial services provider's stock worth $101,456,000 after acquiring an additional 8,053 shares in the last quarter. Morgan Stanley boosted its position in CNO Financial Group by 20.5% during the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider's stock worth $79,461,000 after purchasing an additional 317,690 shares during the period. Principal Financial Group Inc. boosted its position in CNO Financial Group by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,492,497 shares of the financial services provider's stock worth $61,282,000 after purchasing an additional 114,000 shares during the period. AQR Capital Management LLC increased its holdings in CNO Financial Group by 35.6% in the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider's stock valued at $51,730,000 after purchasing an additional 319,795 shares in the last quarter. Finally, Bank of America Corp DE raised its position in CNO Financial Group by 6.2% in the first quarter. Bank of America Corp DE now owns 988,063 shares of the financial services provider's stock valued at $40,570,000 after purchasing an additional 57,804 shares during the period. Hedge funds and other institutional investors own 95.43% of the company's stock.

About CNO Financial Group

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.

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