: Verisk Analytics stock rallies toward 6-month high after $2.5 billion accelerated stock buyback program announced


Shares of Verisk Analytics Inc. VRSK, -0.22% rallied 1.2% toward a six-month high in premarket trading Tuesday, after the data analytics company announced a $2.5 billion accelerated share repurchase (ASR) program. The ASR represented 8.6% of the company’s market capitalization of about $29.04 billion as of Monday’s closing prices. The company said it entered into the ASR with Citibank N.A. and Goldman Sachs & Co. LLC. The final settlement of the ASR is expected to occur during its fourth-quarter ending Dec. 31, 2023. The stock, which is on track to open at the highest price seen during regular-session hours since Sept. 12, has gained 2.6% over the past three months through Monday, while the S&P 500 SPX, -0.50% has advanced 2.9%.

This article was originally published by Marketwatch.com. Read the original article here.

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