Just Group (JUST)

Sector:

Insurance

Index:

FTSE 250

134.00p
   
  • Change Today:
    -3.20p
  • 52 Week High: 151.20
  • 52 Week Low: 75.20
  • Currency: UK Pounds
  • Shares Issued: 1,038.70m
  • Volume: 3,147,898
  • Market Cap: £1,391.86m
  • RiskGrade: 252

Jefferies starts Just Group at 'buy', shares rally

By Michele Maatouk

Date: Monday 28 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Jefferies initiated coverage of Just Group on Monday with a 'buy' rating and 115p price target, saying the company was poised to benefit from the busiest bulk annuity market ever.
The bank said its initiation focuses on the key topics of capital generation, property exposure and the outlook for the bulk annuity market.

It noted that following the appointment of chief executive David Richardson in 2019, Just has taken a number of actions to bolster capital and reduce sensitivity to the UK property market.

"With the Solvency II ratio likely to be 195% at 2022F year-end and property sensitivities almost halved since 2019, we believe these actions have been implemented successfully," it said. "Despite this, the market has given Just minimal credit for this, with the stock barely re-rating, from 0.42x T1 own funds in 2019 on average to just 0.45x T1 own funds now."

In addition, Jefferies said the bulk annuity market was "ready for take-off". It pointed out that the Pension Protection Fund has forecast that UK defined benefit pensions schemes are currently in a £375bn surplus position, representing an all-time high funding level for schemes.

"This sets up the bulk annuity market for a record year in 2023, with pension consultant LCP forecasting that the total number of deals could be as high as £60bn amongst just eight players. As a pure play annuity writer, Just has excellent exposure to this structural growth opportunity," it said.

At 1135 GMT, the shares were up 5.7% at 76.91p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Just Group Market Data

Currency UK Pounds
Share Price 134.00p
Change Today -3.20p
% Change -2.33 %
52 Week High 151.20
52 Week Low 75.20
Volume 3,147,898
Shares Issued 1,038.70m
Market Cap £1,391.86m
RiskGrade 252

Just Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
68.93% above the market average68.93% above the market average68.93% above the market average68.93% above the market average68.93% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
94.13% above the market average94.13% above the market average94.13% above the market average94.13% above the market average94.13% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
61.18% below the market average61.18% below the market average61.18% below the market average61.18% below the market average61.18% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
4.24% below the market average4.24% below the market average4.24% below the market average4.24% below the market average4.24% below the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 1
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Just Group Dividends

  Latest Previous
  Interim Final
Ex-Div 22-Aug-24 11-Apr-24
Paid 04-Oct-24 15-May-24
Amount 0.70p 1.50p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 990,504 @ 134.00p
16:35 3,509 @ 134.00p
16:35 5,172 @ 134.00p
16:35 5,562 @ 134.00p
16:35 3,974 @ 134.00p

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