Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Stock buybacks of the week: Raymond James authorizes $1.5 billion

AuthorSarina Penn Isaacs
Published 12/03/2022, 04:35 PM
Updated 12/03/2022, 04:36 PM
© Reuters.

Here are some of the biggest share-buyback announcements from this week, all first covered on InvestingPro+.

Builders FirstSource Inc (NYSE:BLDR) announced an increase to the company’s existing stock repurchase plan in the amount of $1 billion, for a total of approximately $1.5 billion inclusive of the remaining outstanding authorization at the end of the third quarter of 2022. Shares gained 2.6% to $63.11 for the week.

Raymond James Financial Inc (NYSE:RJF) authorized repurchase of the company’s shares of common stock in an aggregate amount of up to $1.5 billion. The $1.5 billion authorization replaces the previous repurchase authorization of $1 billion announced on December 2, 2021. The company also raised its dividend by 23.5% to $0.42 per share. Shares gained 1.3% to $119.16 for the week.

Workday (NASDAQ:WDAY) announced a new share repurchase program with authorization to purchase up to $500 million of shares of its Class A common stock as it also announced above-consensus earnings.

Barbara Larson, chief financial officer, said, "This program is a direct reflection of our belief that our shares are undervalued, and a demonstration of our confidence in the business and the long-term opportunity ahead." The new share repurchase program is designed to reduce the impact of future share dilution from employee stock issuances. Shares gained 15.2% to $170.99 for the week.

FTI Consulting (NYSE:FCN) authorized buyback of an additional $400 million under its stock repurchase program. As of November 30, 2022, FTI Consulting has repurchased approximately 11.3 million shares of its outstanding common stock pursuant to its stock repurchase program. Shares were off 1% to $171.45 for the week.

Unum Group (NYSE:UNM) approved a share repurchase program of up to $200 million for January 1, 2023 through December 31, 2023. This program follows the company's current share repurchase program, which expires on December 31, 2022. Shares gained 4.2% to $42.87.

***

For tools, data, and content to help you make better investing decisions, try InvestingPro+.

Latest comments

usually when companies do buy backs they will follow with bad earnings reports to drive down share prices so they buy lower. so don't get caught buying at price above the rally because it may drop 10 percent in the coming month. probably better to dollar cost in at 1 share per til after bad news
The old world of thinking is that labor costs are a liability. As opposed to the intrinsic value that labor contributes to a growing economy for needed and desired goods and services. Central banks increase rates when wages are realistic to the cost of inflation and lowered when more workers are needed. The objective is higher rates of employment at lowered cost. Remarkably, high net worth earners and real or perceived wealth affect that are the result of inflated assets such as property and retirement accounts are evaded for evaluating inflation. In a manner of speaking, a contemporary and polished feudal system.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.