The PMI Group, Walnut Creek, Calif., has been authorized to repurchase up to $100 million of its stock.Under the new program, management is authorized to buy shares from time to time in open market transactions as well as privately negotiated transactions and block purchases. The timing and amount of the repurchases depend upon market conditions and corporate requirements. This is PMI's fourth share repurchase plan since 1996. The initial three plans totaled more than $400 million.
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