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Life Health > Health Insurance > Health Insurance

Aetna Board Refills Buyback Fund

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The board of Aetna Inc. has added $750 million to the fund that managers can use to buy back shares of the company’s common stock.

Aetna, Hartford (NYSE:HIG), has about $315 million in stock repurchase authority left under the older repurchase authorization.

Aetna has about 380 million common shares outstanding, and shares are selling for about $40 each.

At current prices, Aetna now has enough repurchase capacity to buy back about 7% of the company’s stock.

- Allison Bell

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