CNO Financial Group Acquires Web Benefits Design

CARMEL, Ind., April 29, 2019 /PRNewswire/ — CNO Financial Group (NYSE: CNO) announced today that it has acquired privately-owned Web …

CARMEL, Ind., April 29, 2019 /PRNewswire/ — CNO Financial Group (NYSE: CNO) announced today that it has acquired privately-owned Web Benefits Design Corporation (“WBD”), a leading online benefits administration firm with a best-in-class, proprietary technology platform for employer benefit programs.

WBD offers a full-service, integrated employee benefits administration solution, distributed through a network of independent brokers and a direct sales force. Its cloud-based platform provides companies with a customizable suite of administration, compliance and communications solutions to manage employee benefits programs while delivering a simple and straightforward enrollment experience for employees.

“WBD brings a leading-edge benefits technology platform and a proven track record of digital innovation to CNO,” said Gary C. Bhojwani, chief executive officer. “Employee benefits technology is one of the most highly sought-after solutions in the fast-growing worksite marketplace. With WBD’s platform, we are strengthening our competitive position to retain and attract employer groups by offering a technology-driven one-stop shop for their benefit needs.”

“We expect this transaction to accelerate the growth of our worksite business, which has been expanding at a double-digit rate for the last four quarters,” Bhojwani added. “CNO’s insurance products will now be available alongside WBD’s current carrier options to 1,000 employer group clients with more than 250,000 employees. The acquisition will also enable distribution of WBD’s solutions and our products through both our 375 dedicated worksite agents and WBD’s 200 affiliated brokers, providing considerable cross-sell opportunities.”

“CNO is the right partner to help us reach the next level of success while preserving what makes us valuable to our clients and partners,” said Bethany Schenk, president and chief executive officer of Web Benefits Design. “We are excited to join a company that shares our vision and values while supporting our entrepreneurial spirit. Linking our industry-leading platform with CNO’s operational infrastructure, insurance product portfolio and national sales force will create a win-win situation for all of our customers, brokers and carrier partners.”

The purchase price is approximately $66 million with an additional earn-out if certain financial targets are achieved. CNO intends to fund the transaction from holding company cash and expects it to be accretive to earnings in 2020.

Deutsche Bank Securities Inc. served as financial advisor to CNO Financial Group and Stifel, Nicolaus & Company, Incorporated served as financial advisor to Web Benefits Design.

About CNO Financial Group

CNO Financial Group, Inc. (NYSE: CNO) is a holding company. Our insurance companies – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement. For more information, visit CNO online at CNOinc.com.

About Web Benefits Design

Web Benefits Design Corporation (“WBD”) is a leading national employee benefits technology, communication, and administration firm founded by Ron and Bethany Schenk. WBD works with companies of all sizes to develop employee benefit solutions on the cutting edge of technology and value. WBD’s core solutions include online enrollment, COBRA, ACA reporting, telephonic enrollment, dependent documentation management, insurance carrier and payroll connectivity. WBD bridges the gap between total automation and reality to help employers leverage its solutions to save time, money and resources by delivering an engaging, high-impact employee benefits package. For more information, visit wbdcorp.com.

SOURCE CNO Financial Group

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CNO Financial Group Inc (CNO) Shares Sold by Squarepoint Ops LLC

Man Group plc raised its position in shares of CNO Financial Group by 295.6% during the third quarter. Man Group plc now owns 958,378 shares of …

CNO Financial Group logoSquarepoint Ops LLC lowered its position in shares of CNO Financial Group Inc (NYSE:CNO) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,870 shares of the financial services provider’s stock after selling 10,866 shares during the quarter. Squarepoint Ops LLC owned approximately 0.06% of CNO Financial Group worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNO. BlackRock Inc. raised its position in shares of CNO Financial Group by 17.0% during the third quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock worth $414,094,000 after acquiring an additional 2,839,109 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of CNO Financial Group by 1,388.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 916,205 shares during the last quarter. Man Group plc raised its position in shares of CNO Financial Group by 295.6% during the third quarter. Man Group plc now owns 958,378 shares of the financial services provider’s stock worth $20,337,000 after acquiring an additional 716,133 shares during the last quarter. Prudential Financial Inc. raised its position in shares of CNO Financial Group by 48.0% during the fourth quarter. Prudential Financial Inc. now owns 2,195,402 shares of the financial services provider’s stock worth $32,668,000 after acquiring an additional 712,068 shares during the last quarter. Finally, Foresters Investment Management Company Inc. bought a new stake in shares of CNO Financial Group during the fourth quarter worth $7,816,000. Institutional investors own 97.30% of the company’s stock.

NYSE:CNO opened at $16.50 on Tuesday. CNO Financial Group Inc has a 1 year low of $13.64 and a 1 year high of $22.93. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 9.02 and a beta of 1.30.

CNO Financial Group (NYSE:CNO) last posted its earnings results on Tuesday, February 12th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The business had revenue of $778.20 million during the quarter, compared to analyst estimates of $981.90 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue was down 28.6% on a year-over-year basis. As a group, equities research analysts anticipate that CNO Financial Group Inc will post 2.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. CNO Financial Group’s payout ratio is 21.86%.

A number of research firms have recently weighed in on CNO. Evercore ISI upgraded CNO Financial Group from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 9th. They noted that the move was a valuation call. ValuEngine downgraded CNO Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, February 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $21.00 target price on shares of CNO Financial Group in a research report on Thursday, February 14th. Finally, Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.50.

In other CNO Financial Group news, CFO Erik M. Helding sold 11,845 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $16.08, for a total value of $190,467.60. Following the completion of the transaction, the chief financial officer now directly owns 78,445 shares of the company’s stock, valued at $1,261,395.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

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About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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Los Angeles Capital Management & Equity Research Inc. Sells 49890 Shares of CNO Financial …

Man Group plc boosted its holdings in shares of CNO Financial Group by 295.6% during the 3rd quarter. Man Group plc now owns 958,378 shares of …

CNO Financial Group logoLos Angeles Capital Management & Equity Research Inc. cut its holdings in CNO Financial Group Inc (NYSE:CNO) by 28.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,498 shares of the financial services provider’s stock after selling 49,890 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.08% of CNO Financial Group worth $1,853,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNO. BlackRock Inc. grew its position in CNO Financial Group by 17.0% during the 3rd quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock valued at $414,094,000 after purchasing an additional 2,839,109 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of CNO Financial Group by 1,388.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 916,205 shares during the last quarter. Man Group plc boosted its holdings in shares of CNO Financial Group by 295.6% during the 3rd quarter. Man Group plc now owns 958,378 shares of the financial services provider’s stock valued at $20,337,000 after acquiring an additional 716,133 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of CNO Financial Group by 48.0% during the 4th quarter. Prudential Financial Inc. now owns 2,195,402 shares of the financial services provider’s stock valued at $32,668,000 after acquiring an additional 712,068 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of CNO Financial Group during the 3rd quarter valued at about $10,972,000. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CNO traded down $0.05 during trading on Friday, hitting $16.18. The company’s stock had a trading volume of 1,275,757 shares, compared to its average volume of 1,060,625. CNO Financial Group Inc has a 12 month low of $13.64 and a 12 month high of $22.93. The stock has a market capitalization of $2.61 billion, a PE ratio of 8.84 and a beta of 1.31. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.76.

CNO Financial Group (NYSE:CNO) last released its earnings results on Tuesday, February 12th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). CNO Financial Group had a positive return on equity of 7.57% and a negative net margin of 7.30%. The firm had revenue of $778.20 million for the quarter, compared to the consensus estimate of $981.90 million. During the same quarter in the previous year, the business posted $0.51 EPS. CNO Financial Group’s revenue was down 28.6% on a year-over-year basis. Analysts expect that CNO Financial Group Inc will post 2.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Friday, March 8th. CNO Financial Group’s dividend payout ratio (DPR) is currently 21.86%.

In other CNO Financial Group news, CFO Erik M. Helding sold 11,845 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $16.08, for a total transaction of $190,467.60. Following the completion of the sale, the chief financial officer now directly owns 78,445 shares of the company’s stock, valued at approximately $1,261,395.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

A number of analysts have recently issued reports on CNO shares. ValuEngine downgraded shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $22.00 price target on shares of CNO Financial Group in a report on Monday, December 17th. Evercore ISI raised shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. CNO Financial Group currently has an average rating of “Hold” and an average price target of $21.50.

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CNO Financial Group Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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Commonwealth Bank of Australia Acquires 13900 Shares of CNO Financial Group Inc (CNO)

Man Group plc lifted its holdings in CNO Financial Group by 295.6% in the third quarter. Man Group plc now owns 958,378 shares of the financial …

CNO Financial Group logoCommonwealth Bank of Australia lifted its stake in shares of CNO Financial Group Inc (NYSE:CNO) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,458 shares of the financial services provider’s stock after purchasing an additional 13,900 shares during the period. Commonwealth Bank of Australia owned about 0.06% of CNO Financial Group worth $1,580,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CNO. BlackRock Inc. lifted its position in shares of CNO Financial Group by 17.0% during the third quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock worth $414,094,000 after purchasing an additional 2,839,109 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in CNO Financial Group by 1,388.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 916,205 shares during the last quarter. Man Group plc lifted its holdings in CNO Financial Group by 295.6% in the third quarter. Man Group plc now owns 958,378 shares of the financial services provider’s stock worth $20,337,000 after acquiring an additional 716,133 shares during the last quarter. Prudential Financial Inc. lifted its holdings in CNO Financial Group by 48.0% in the fourth quarter. Prudential Financial Inc. now owns 2,195,402 shares of the financial services provider’s stock worth $32,668,000 after acquiring an additional 712,068 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in CNO Financial Group in the third quarter worth about $10,972,000. 97.30% of the stock is currently owned by institutional investors and hedge funds.

In other CNO Financial Group news, CFO Erik M. Helding sold 11,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $16.08, for a total value of $190,467.60. Following the sale, the chief financial officer now owns 78,445 shares in the company, valued at $1,261,395.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on CNO shares. Zacks Investment Research raised shares of CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, January 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $22.00 target price on shares of CNO Financial Group in a report on Monday, December 17th. Evercore ISI raised shares of CNO Financial Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. CNO Financial Group has an average rating of “Hold” and a consensus target price of $21.50.

Shares of NYSE CNO opened at $16.18 on Friday. CNO Financial Group Inc has a 52-week low of $13.64 and a 52-week high of $22.93. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 8.84 and a beta of 1.31. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.76.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.14). CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The firm had revenue of $778.20 million during the quarter, compared to analyst estimates of $981.90 million. During the same quarter in the previous year, the business posted $0.51 EPS. CNO Financial Group’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, analysts anticipate that CNO Financial Group Inc will post 2.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.10 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.47%. CNO Financial Group’s payout ratio is currently 21.86%.

COPYRIGHT VIOLATION WARNING: This article was posted by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.fairfieldcurrent.com/news/2019/03/30/commonwealth-bank-of-australia-boosts-stake-in-cno-financial-group-inc-cno.html.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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Prana Capital Management LP Invests $721000 in CNO Financial Group Inc (CNO)

Man Group plc increased its holdings in shares of CNO Financial Group by 295.6% in the 3rd quarter. Man Group plc now owns 958,378 shares of the …

CNO Financial Group logoPrana Capital Management LP purchased a new position in shares of CNO Financial Group Inc (NYSE:CNO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,445 shares of the financial services provider’s stock, valued at approximately $721,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of CNO Financial Group by 17.0% in the 3rd quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock valued at $414,094,000 after purchasing an additional 2,839,109 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of CNO Financial Group by 1,388.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 982,214 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 916,205 shares during the last quarter. Man Group plc increased its holdings in shares of CNO Financial Group by 295.6% in the 3rd quarter. Man Group plc now owns 958,378 shares of the financial services provider’s stock valued at $20,337,000 after acquiring an additional 716,133 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of CNO Financial Group by 48.0% in the 4th quarter. Prudential Financial Inc. now owns 2,195,402 shares of the financial services provider’s stock valued at $32,668,000 after acquiring an additional 712,068 shares during the last quarter. Finally, Foresters Investment Management Company Inc. bought a new stake in shares of CNO Financial Group in the 4th quarter valued at approximately $7,816,000. 97.30% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $22.00 price objective on shares of CNO Financial Group in a research note on Monday, December 17th. Zacks Investment Research upgraded CNO Financial Group from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, January 3rd. Evercore ISI raised CNO Financial Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, ValuEngine downgraded CNO Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. CNO Financial Group has an average rating of “Hold” and an average price target of $21.50.

In other news, Director Stephen N. David purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, December 26th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $41,550.00. Following the completion of the acquisition, the director now directly owns 23,206 shares in the company, valued at approximately $321,403.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Shares of CNO Financial Group stock traded up $0.08 during midday trading on Monday, hitting $15.80. 9,058 shares of the company were exchanged, compared to its average volume of 1,049,621. CNO Financial Group Inc has a 52 week low of $13.64 and a 52 week high of $22.93. The company has a market capitalization of $2.53 billion, a PE ratio of 8.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.26 and a quick ratio of 0.26.

CNO Financial Group (NYSE:CNO) last released its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.14). The business had revenue of $778.20 million for the quarter, compared to analyst estimates of $981.90 million. CNO Financial Group had a negative net margin of 7.30% and a positive return on equity of 7.57%. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. Equities analysts anticipate that CNO Financial Group Inc will post 2.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.40 annualized dividend and a yield of 2.53%. CNO Financial Group’s dividend payout ratio is presently 21.86%.

COPYRIGHT VIOLATION WARNING: This news story was originally posted by Fairfield Current and is the sole property of of Fairfield Current. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.fairfieldcurrent.com/news/2019/03/25/48445-shares-in-cno-financial-group-inc-cno-acquired-by-prana-capital-management-lp.html.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Institutional Ownership by Quarter for CNO Financial Group (NYSE:CNO)

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