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Humana Jumping After Announcing $750 Million Accelerated Stock Repurchase

Shares of Humana Inc. (HUM) have shown a strong move to the upside during trading on Wednesday, surging up by 5.1 percent. Humana is climbing further off the more than four-month closing low it set a week ago.

The advance by Humana comes after the health insurer said it will repurchase $750 million of its common stock through an accelerated stock repurchase agreement with Goldman Sachs.

Looking ahead, Humana said it expects a bigger than previously forecast drop in Stand-alone Prescription Drug Plans Membership but raised its growth estimate for its individual Medicare Advantage products Humana reaffirmed its full-year adjusted earnings guidance of $14.40 per share

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