Cigna (CI.US) Abandons Merger With Humana (HUM.US) Focuses On Stock Buybacks And Growth Outlook

Market IntelMonday, Nov 11, 2024 8:40 am ET

1min read

Health insurer Cigna (CI.US) and Humana (HUM.US) have again failed in merger talks, with Cigna announcing it will not merge with Humana and emphasizing in a statement that the company will continue to follow its established M&A criteria and only consider acquisitions that are strategically meaningful, financially attractive and likely to close. In addition, Cigna expects to reiterate its 2024 adjusted operating profit of at least $28.4 per share at its upcoming investor and analyst meeting and expects at least 10% growth in adjusted EPS in 2025. The company also plans to continue actively repurchasing shares in the fourth quarter and 2025, using most of the proceeds from the sale of its health insurance business, with a remaining authorization of $5.3 billion for share repurchases.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.