Centris Group Plans to Repurchase Stock
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Centris Group Inc., saying its common stock is undervalued, reinstated a $5-million stock repurchase program authorized by the board in 1988.
The Costa Mesa provider of accident and health-insurance products said Monday it will buy back the stock in public or private transactions.
The shares, which last week hit a 52-week low of $7.63, closed Tuesday at $8, unchanged.
The company had bought back 619,000 common shares for about $6.2 million as of Dec. 31 under the repurchase program, Centris said. The company has about 11.6 million common shares outstanding.
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