: Cigna to buy back .5 billion of its stock through accelerated repurchases #FinanceUSA #StockMarketNEWS Cigna Corp. announced Thursday that it will buy back .5 billion of its common stock through
@stockMarketNEWS 11 Days ago
Cigna to buy back .5 billion of its stock through accelerated repurchases #FinanceUSA #StockMarketNEWS
Cigna Corp. announced Thursday that it will buy back .5 billion of its common stock through accelerated stock repurchase (ASR) agreements. That represents about 4.5% of the health insurer's market capitalization of .4 billion as of Wednesday's stock closing price of 7.10. The company said the ASR was part of its existing stock repurchase program, which had .8 billion remaining as of June 14, and part of its plan to repurchase "at least" billion of stock in 2022. Cigna's stock fell 1.0% premarket, amid a sharp selloff in the broader stock market. Cigna's stock has gained 7.6% year to date through Wednesday, while the S&P 500 has dropped 20.5%.
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