Fintel reports that on September 14, 2023, Jefferies maintained coverage of CNO Financial Group (NYSE:CNO) with a Hold recommendation.
Analyst Price Forecast Suggests 10.86% Upside
As of August 31, 2023, the average one-year price target for CNO Financial Group is 25.91. The forecasts range from a low of 23.23 to a high of $30.45. The average price target represents an increase of 10.86% from its latest reported closing price of 23.37.
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The projected annual revenue for CNO Financial Group is 3,735MM, a decrease of 4.42%. The projected annual non-GAAP EPS is 2.33.
CNO Financial Group Declares $0.15 Dividend
On August 9, 2023 the company declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of September 8, 2023 will receive the payment on September 22, 2023. Previously, the company paid $0.15 per share.
At the current share price of $23.37 / share, the stock's dividend yield is 2.57%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.50%, the lowest has been 1.82%, and the highest has been 4.87%. The standard deviation of yields is 0.44 (n=236).
The current dividend yield is 0.15 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 603 funds or institutions reporting positions in CNO Financial Group. This is a decrease of 30 owner(s) or 4.74% in the last quarter. Average portfolio weight of all funds dedicated to CNO is 0.22%, a decrease of 0.31%. Total shares owned by institutions decreased in the last three months by 0.42% to 132,341K shares. 
The put/call ratio of CNO is 2.37, indicating a bearish outlook.
What are Other Shareholders Doing?
Pzena Investment Management holds 7,287K shares representing 6.45% ownership of the company. In it's prior filing, the firm reported owning 7,495K shares, representing a decrease of 2.86%. The firm increased its portfolio allocation in CNO by 2.52% over the last quarter.
Fuller & Thaler Asset Management holds 6,968K shares representing 6.17% ownership of the company. In it's prior filing, the firm reported owning 6,971K shares, representing a decrease of 0.04%. The firm increased its portfolio allocation in CNO by 5.05% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 5,707K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 5,677K shares, representing an increase of 0.54%. The firm increased its portfolio allocation in CNO by 8.23% over the last quarter.
Lsv Asset Management holds 4,941K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 4,870K shares, representing an increase of 1.43%. The firm increased its portfolio allocation in CNO by 6.38% over the last quarter.
Franklin Resources holds 4,333K shares representing 3.83% ownership of the company. In it's prior filing, the firm reported owning 2,919K shares, representing an increase of 32.63%. The firm increased its portfolio allocation in CNO by 576.28% over the last quarter.
CNO Financial Group Background Information
(This description is provided by the company.)
CNO Financial Group, Inc. secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services, and workforce benefits solutions through its family of brands, including Bankers Life, Colonial Penn and Washington National. Its customers work hard to save for the future, and the company helps protect their health, income and retirement needs with 3.2 million policies and more than $35 billionin total assets. Its 3,400 associates, 5,000 exclusive agents and 4,000 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions.
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