Cigna Disclosed The Repurchase Of $3.2B Shares Through Accelerated Stock Repurchase Agreements With Deutsche Bank And Bank Of America As A Part Of Its Existing Share Repurchase Program, With Remaining Authority Of $10.6B As Of February 13, 2024
Portfolio Pulse from Benzinga Newsdesk
Cigna announced a $3.2B share repurchase through agreements with Deutsche Bank and Bank of America, part of its ongoing buyback program, with $10.6B authority remaining as of February 13, 2024.
February 15, 2024 | 11:08 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Cigna's $3.2B share repurchase is a significant move under its existing buyback program, signaling confidence in its financial health and a potential positive impact on its stock price.
Share repurchases often lead to a reduction in the number of shares outstanding, potentially increasing the earnings per share (EPS) and the stock price. Cigna's substantial repurchase amount and the remaining authority suggest a strong commitment to returning value to shareholders, which could positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100