What is the size of Jefferies' new buyback authorization and what was the prior authorization?

The Board has increased the share buyback authorization back to $250 million. The filing does not explicitly state the prior authorization amount, but the language 'increased back to' suggests the company had used down a previous $250 million program and is restoring it to that level.

How many shares did Jefferies repurchase in Q2 2026, and at what price?

The company repurchased 4.0 million shares in the second quarter for $197 million at an average price of $49.83 per share. This comprised 2.5 million shares in the open market for $121 million and 1.5 million shares through equity compensation net-share settlements for $76 million.

What was the total buyback activity for the first half of 2026?

Jefferies repurchased 7.0 million shares for $372 million at an average price of $53.42 per share during the six-month period ended May 31, 2026. This included 5.0 million open-market shares and 2.0 million shares through equity compensation net-share settlements.

How does the first-half 2026 share repurchase compare to the prior year?

The filing does not provide comparable buyback data for the first half of 2025, so a year-over-year comparison is not available from this disclosure. Voting common shares outstanding decreased from 206.3 million at May 31, 2025 to 194.1 million at May 31, 2026.

Does the filing specify what mechanism Jefferies uses for open-market purchases?

The filing does not specify whether open-market purchases are conducted under Rule 10b-18 safe harbor, a 10b5-1 plan, or another mechanism. It only identifies the repurchase types as open-market purchases versus equity compensation net-share settlements.

What is the remaining authorization available under the buyback program?

The filing does not disclose how much of the $250 million authorization remains available for future repurchases. It only states that the Board has increased the authorization back to $250 million total.

JEF 8-K Filed 2026-06-24 Amendment

Jefferies increases buyback authorization to $250M after Q2 repurchases

Board raised authorization after repurchasing 4 million shares in Q2; company also increased first-half buyback activity to 7 million shares.

MechanismOpen-market purchases and net-

What the filing says

Jefferies Financial Group Inc. announced in its second-quarter 2026 earnings release that its Board of Directors has increased the company's share buyback authorization back to a total of $250 million. During the second quarter alone, the company repurchased 4.0 million shares of common stock for $197 million at an average price of $49.83 per share, comprising 2.5 million shares purchased in the open market for $121 million and 1.5 million shares repurchased for $76 million in connection with net-share settlements related to equity compensation plans.

For the six-month period ended May 31, 2026, Jefferies repurchased a total of 7.0 million shares for $372 million at an average price of $53.42 per share, consisting of 5.0 million shares acquired in the open market for $265 million and 2.0 million shares repurchased for $107 million through equity compensation net-share settlements. The company did not specify the execution mechanism for open-market purchases, though the filing indicates repurchases were conducted during the period.

At May 31, 2026, Jefferies had 194.1 million voting common shares outstanding and 252.0 million common shares outstanding on a fully diluted basis. The authorization increase comes amid strong earnings performance in the second quarter, with net earnings attributable to common shareholders of $226 million and record investment banking advisory and underwriting net revenues.

During the quarter, we repurchased 4.0 million shares of common stock for $197 million, or an average price of $49.83 per share. Our Board of Directors has increased our share buyback authorization back to a total of $250 million. — Jefferies Financial Group Inc. 8-K filing · View on SEC EDGAR →

What this means

Jefferies' $250 million authorization refresh represents a modest replenishment of buyback capacity after executing $372 million in repurchases during the first half of 2026. The 7 million shares retired year-to-date reduce the share count from 206.3 million at May 31, 2025 to 194.1 million at May 31, 2026—a 3.4% reduction that mechanically supports per-share earnings growth independent of operating performance. The split between open-market purchases and compensation-related repurchases reflects routine equity plan execution alongside opportunistic buyback activity. The timing follows strong investment banking and capital markets results, suggesting deployment of excess capital during a period of operational momentum.

Frequently asked questions

What is the size of Jefferies' new buyback authorization and what was the prior authorization?: The Board has increased the share buyback authorization back to $250 million. The filing does not explicitly state the prior authorization amount, but the language 'increased back to' suggests the company had used down a previous $250 million program and is restoring it to that level.
How many shares did Jefferies repurchase in Q2 2026, and at what price?: The company repurchased 4.0 million shares in the second quarter for $197 million at an average price of $49.83 per share. This comprised 2.5 million shares in the open market for $121 million and 1.5 million shares through equity compensation net-share settlements for $76 million.
What was the total buyback activity for the first half of 2026?: Jefferies repurchased 7.0 million shares for $372 million at an average price of $53.42 per share during the six-month period ended May 31, 2026. This included 5.0 million open-market shares and 2.0 million shares through equity compensation net-share settlements.
How does the first-half 2026 share repurchase compare to the prior year?: The filing does not provide comparable buyback data for the first half of 2025, so a year-over-year comparison is not available from this disclosure. Voting common shares outstanding decreased from 206.3 million at May 31, 2025 to 194.1 million at May 31, 2026.
Does the filing specify what mechanism Jefferies uses for open-market purchases?: The filing does not specify whether open-market purchases are conducted under Rule 10b-18 safe harbor, a 10b5-1 plan, or another mechanism. It only identifies the repurchase types as open-market purchases versus equity compensation net-share settlements.
What is the remaining authorization available under the buyback program?: The filing does not disclose how much of the $250 million authorization remains available for future repurchases. It only states that the Board has increased the authorization back to $250 million total.

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Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.