Share Buyback Plan Authorized by Jupiter Fund Management (LON:JUP)

Jupiter Fund Management (LON:JUP) declared that its board has approved a stock buyback plan on Wednesday, April 8th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Jupiter Fund Management Stock Up 5.5%

Shares of LON JUP traded up GBX 8.60 on Wednesday, hitting 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 12-month low of GBX 67.40 and a 12-month high of GBX 214.50. The business has a 50 day moving average of GBX 181 and a two-hundred day moving average of GBX 164.07. The firm has a market capitalization of £833.29 million, a P/E ratio of 9.27 and a beta of 1.37.

Jupiter Fund Management (LON:JUP) last issued its 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 anticipate that Jupiter Fund Management will post 8.5093781 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on Jupiter Fund Management from GBX 165 to GBX 175 and gave the company a “hold” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of GBX 150.33.

Insider Transactions at Jupiter Fund Management

In other news, insider Wayne Mepham sold 206,766 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of GBX 195, for a total value of £403,193.70. Also, insider James Macpherson bought 30,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of GBX 194 per share, with a total value of £58,200. Company 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.