Stock Buyback Program Initiated by Jupiter Fund Management (LON:JUP)

Key Points

• On April 8 the board authorized a stock repurchase program allowing open‑market purchases, though the report lists the planned buyback size as "0" shares (i.e., no specific amount was disclosed).
• Shares jumped about 5.5% to GBX 166 on the news; Jupiter has a market cap of ~£833.3M, a PE of 9.27, and a 12‑month range of GBX 67.40–214.50.
• Insider activity included a purchase of 30,000 shares at GBX 194 and a sale of 308,933 shares at GBX 188, while analysts maintain an average rating of Hold with an average price target of GBX 150.33 (Deutsche Bank raised its target to GBX 175).

Jupiter Fund Management (LON:JUP - Get Free Report) declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 8th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Jupiter Fund Management Trading Up 5.5%

Shares of LON JUP traded up GBX 8.60 during trading on Wednesday, reaching GBX 166. The company had a trading volume of 1,862,139 shares, compared to its average volume of 2,876,776. Jupiter Fund Management has a twelve month low of GBX 67.40 and a twelve month high of GBX 214.50. The stock has a market capitalization of £833.29 million, a PE ratio of 9.27 and a beta of 1.37. The stock has a 50-day moving average price of GBX 181 and a two-hundred day moving average price of GBX 164.07.

Jupiter Fund Management (LON:JUP - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported GBX 19.40 earnings per share for the quarter. Jupiter Fund Management had a return on equity of 11.49% and a net margin of 21.19%. On average, sell-side analysts predict that Jupiter Fund Management will post 8.5093781 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft lifted their price objective on Jupiter Fund Management from GBX 165 to GBX 175 and gave the stock a "hold" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Jupiter Fund Management has an average rating of "Hold" and an average price target of GBX 150.33.

Insider Activity at Jupiter Fund Management

In other Jupiter Fund Management news, insider James Macpherson bought 30,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of GBX 194 per share, for a total transaction of £58,200. Also, insider Matthew Beesley sold 308,933 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of GBX 188, for a total value of £580,794.04. Insiders own 3.97% of the company's stock.

About Jupiter Fund Management

Jupiter Fund Management Plc is a publicly owned investment manager. The firm manages mutual funds, hedge funds, client focused portfolios, and multi-manager products for its clients. It invests in the public equity markets across U.K., Europe and global emerging markets. The firm also invests in fixed income markets, fund of funds products, hedge funds, and absolute return funds. Jupiter Fund Management Plc was founded in 1985 and is based in London, United Kingdom.

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