Tags: Aetna | Buy | Back | Billion | stock

Aetna Authorized to Buy Back $1 Billion in Stock

Friday, 30 Jul 2010 04:32 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Aetna said on Friday its board has authorized the health insurer to buy back up to $1 billion of its stock, a show of confidence in the company's stock at a time of uncertainty in the industry.

Aetna, the No. 3 U.S. health insurer with a market value of about $11.5 billion, said it intends to continue buying shares in the open market from time to time. Its shares rose 1.2 percent to $27.83 on the New York Stock Exchange.

Earlier this week, Aetna posted better-than-expected second-quarter profit and raised its 2010 outlook.

However, its shares fell after the report as it failed to provide investors with a clear view on profits in 2011 as they wait for details on the country's healthcare reform.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved