Just Group (LON:JUST) Stock Price Up 67.9% - Here's Why

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 share price traded up 67.9% during mid-day trading on Thursday . The stock traded as high as GBX 214 ($2.84) and last traded at GBX 211.61 ($2.81). 95,064,234 shares traded hands during mid-day trading, an increase of 1,050% from the average session volume of 8,267,902 shares. The stock had previously closed at GBX 126 ($1.67).

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Just Group to a "hold" rating and raised their price target for the company from GBX 170 ($2.26) to GBX 220 ($2.92) in a report on Thursday. Berenberg Bank started coverage on Just Group in a report on Monday, July 7th. They issued a "buy" rating and a GBX 209 ($2.78) price target on the stock.

Just Group Stock Performance

The company has a market cap of £2.21 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 0.47 and a beta of 1.51. The company has a debt-to-equity ratio of 43.09, a current ratio of 2.30 and a quick ratio of 4.87. The stock has a 50-day moving average price of GBX 139.82 and a 200 day moving average price of GBX 145.73.

Insider Activity at Just Group

In other news, insider Mary Phibbs acquired 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average cost of GBX 144 ($1.91) per share, for a total transaction of £43,200 ($57,362.90). 1.99% of the stock is currently owned by corporate insiders.

About Just Group

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.