Humana 2010 Annual Report Download - page 47

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e) Stock Performance
The following graph compares the performance of our common stock to the Standard & Poor’s Composite
500 Index (“S&P 500”) and the Morgan Stanley Health Care Payer Index (“Peer Group”) for the five years ended
December 31, 2010. The graph assumes an investment of $100 in each of our common stock, the S&P 500, and
the Peer Group on December 31, 2005.
$0
$25
$50
$75
$100
$125
$150
12/31/05
HUM S&P 500 Peer Group
12/31/06 12/31/07 12/31/08 12/31/09 12/31/10
12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10
HUM ...................................... $100 $102 $139 $69 $81 $101
S&P500 ................................... $100 $114 $118 $72 $89 $101
Peer Group ................................. $100 $107 $124 $56 $86 $ 99
f) Issuer Purchases of Equity Securities
In December 2009, the Board of Directors authorized the repurchase of up to $250 million of our common
shares exclusive of shares repurchased in connection with employee stock plans. Under this share repurchase
authorization, shares may be purchased from time to time at prevailing prices in the open market, by block
purchases, or in privately-negotiated transactions, subject to certain regulatory restrictions on volume, pricing,
and timing. During 2010, we repurchased 1.99 million common shares in open market transactions for $100.0
million at an average price of $50.17. No shares were repurchased in open market transactions during the fourth
quarter of 2010. As of February 4, 2011, the remaining authorized amount totaled $150.0 million and the
authorization expires on December 31, 2011.
In connection with employee stock plans, we acquired 0.2 million common shares for $8.5 million in 2010.
37