Cigna to buy back $3.5B in stock

Cigna is buying back $3.5 billion in common stock through accelerated repurchase agreements with Mizuho Markets Americas and Morgan Stanley, the insurer announced June 16. 

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The final settlement of the buyback agreement is expected to be completed in the fourth quarter of 2022, according to a June 16 news release. 

Cigna announced a plan in February to buy back $7 billion in stock this year. CEO David Cordani said in the release Cigna remains on track for that goal. 

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