Shares 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.