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Humana stock extends bounce after $1 billion ASR announced

Shares of Humana Inc.
HUM,
+1.68%
rallied 1.4% in premarket buying and selling Wednesday, just after the health insurer disclosed a $1. billion accelerated share repurchase agreement. The ASR, which is component of the $3. billion share repurchase system announced in February 2021, signifies about 2% of Humana’s market capitalization of $50.3 billion as of Tuesday’s close. The inventory has bounced 7.8% in excess of the previous two times, pursuing the 20.3% plunge about the past two times after the company slashed its Medicare Advantage membership growth outlook. The inventory has slumped 6.8% about the previous a few months by way of Tuesday, when the S&P 500
SPX,
+.92%
has obtained 8.3%.

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