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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowShares of CNO Financial Group are up about 80 percent since last summer, although favorable financial performance might not be the only driver.
The Carmel-based financial services company said that, during the second quarter, it repurchased $59.4 million of its securities, including 4.4 million common shares for $50 million.
That makes $184 million in repurchases year-to-date. At June 30, CNO had 219 million outstanding shares, and authority to buy back up to an additional $166 million of its common stock.
Lately, its shares have traded around $14.50 vs. a low of $8 last summer.
On July 29, CNO said its second-quarter profits soared 17 percent, to $77.1 million.
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