Humana stock gains after $1 billion ASR set

Shares of Humana Inc. rose 0.8% in premarket trading Thursday, after the health insurer disclosed that it entered into a $1 billion accelerated stock repurchase (ASR) agreement. The company said the agreement, made with Goldman Sachs & Co. and Mizuho Markets America. The ASR, which represents 1.4% of Humana's market capitalization of $70.82 billion as of Wednesday's close, is part of the $3.0 billion stock repurchase program that was announced in February 2021. The stock has rallied 16.1% over the past three months while the S&P 500 has dropped 9.5%.

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