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.
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.