Cigna to buy back $3.5 billion of its stock through accelerated repurchases Cigna Corp. announced Thursday that it will buy back $3.5 billion of its common stock through accelerated stock repurchase (ASR) agreements. That represents about 4.5% of the health insurer''s market capitalization of $78.4 billion as of Wednesday''s stock closing price of $247.10. The company said the ASR was part of its existing stock repurchase program, which had $8.8 billion remaining as of June 14, and part of its plan to repurchase "at least" $7 billion of stock in 2022. Cigna''s stock fell 1.0% premarket, amid a sharp selloff in the broader stock market. Cigna''s stock has gained 7.6% year to date through Wednesday, while the SP 500 has dropped 20.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.