Just Group (LON:JUST) Shares Up 67.9% - Here's What Happened

Key Points

• Just Group plc's shares surged by 67.9% during mid-day trading, reaching GBX 214 ($2.84), significantly up from a previous closing price of GBX 126 ($1.67).
• Berenberg Bank initiated coverage on Just Group, issuing a "buy" rating with a price target of GBX 209 ($2.77).
• Insider Mary Phibbs acquired 30,000 shares of Just Group at an average price of GBX 144 ($1.91), indicating confidence in the company's potential.

Just Group plc (LON:JUST - Get Free Report)'s stock price rose 67.9% during mid-day trading on Thursday . The company traded as high as GBX 214 ($2.84) and last traded at GBX 211.61 ($2.81). Approximately 95,064,234 shares changed hands during trading, an increase of 1,050% from the average daily volume of 8,267,902 shares. The stock had previously closed at GBX 126 ($1.67).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank began coverage on Just Group in a research note on Monday, July 7th. They issued a "buy" rating and a GBX 209 ($2.77) price target for the company.

Just Group Stock Performance

The firm has a 50-day moving average price of GBX 137.19 and a two-hundred day moving average price of GBX 144.91. The company has a quick ratio of 4.87, a current ratio of 2.30 and a debt-to-equity ratio of 43.09. The firm has a market cap of £2.21 billion, a PE ratio of 24.62, a P/E/G ratio of 0.47 and a beta of 1.51.

Insider Activity

In other news, insider Mary Phibbs purchased 30,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of GBX 144 ($1.91) per share, for a total transaction of £43,200 ($57,279.24). 1.99% of the stock is owned by company insiders.

Just Group Company Profile

Just Group plc provides various retirement income products and services to individual and corporate clients.in the United Kingdom. It offers defined benefit de-risking solutions, guaranteed income for life, secure lifetime income, care plans, and lifetime mortgage service. The company also engages in professional services and distribution business, which offers technology, broking, and advice solutions for corporate clients and pension schemes; and regulated financial advice for pension, investment, and savings.

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