The Cigna Group Buyback
OLI recorded this information on 2/15/2024
Company:
The Cigna Group
Buyback:
CI buyback
$Amount Authorized:
$3,200,000,000
Buyback Details:
Global health company The Cigna Group (NYSE: CI) will repurchase $3.2 billion of common stock through accelerated stock repurchase agreements (the "ASR Agreements") with Deutsche Bank AG and Bank of America, N.A. (the "Counterparties"). The ASR Agreements are part of The Cigna Group's (the "Company") existing share repurchase program, which had remaining authority of $10.6 billion as of February 13, 2024.
The Cigna Group, together with its subsidiaries, is a global health service organization. Co.'s segments include: Evernorth, which includes a range of coordinated and point solution health services, as well as those from partners across the health care system, in pharmacy solutions, benefits management solutions, care delivery and care management solutions and other solutions; Cigna Healthcare, which includes Co.'s U.S. Commercial, U.S. Government and International Health operating segments that provide medical and coordinated solutions to clients and customers; and Other Operations, which includes ongoing business, exiting business, and run-off businesses.
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Strong Buy (3.55 out of 4) 61st percentile
(ranked higher than approx. 61% of all stocks covered)
Analysts' Target Price: CI Stock Forecast Based on Zacks ABR data; powered by Xignite |