Aetna Adds $750 Million To Share-Repurchase Program

   DOW JONES NEWSWIRES 
 

Aetna Inc. (AET) said it will buy back an additional $750 million of its common stock, the health insurer's latest shareholder friendly move.

Aetna's latest buyback increase adds to the approximately $295 million remaining under its prior authorization. In September, the company's board also approved the addition of up to $750 million to its stock-buyback program.

Aetna had about 349.7 million shares outstanding as of Dec. 31.

Many companies are spending more money on dividends and stock repurchases to reassure shareholders at a time of economic uncertainty.

Earlier this month, Aetna reported its fourth-quarter earnings rose 73% as it continued to benefit from light medical costs during a sluggish pace of patient visits to hospitals and doctors' offices. This trend, brought on by the weak economy and high unemployment, fueled earnings gains and rising stock prices across the managed-care sector last year.

Shares rose 0.4% to $46.88 in recent trading. The stock is up 11% so far this year.

-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; [e-mail]