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

Key Points

• Just Group plc shares surged by 67.9% during mid-day trading, reaching GBX 214 ($2.83), significantly rising from a previous close of GBX 126 ($1.66) amidst heightened trading volume.
• Berenberg Bank initiated coverage on the company, issuing a "buy" rating with a price target of GBX 209 ($2.76), indicating positive outlook for the stock.
• Just Group's current market capitalization is £2.21 billion, with a PE ratio of 24.62, reflecting strong growth potential in the retirement income products sector in the UK.

Shares of Just Group plc (LON:JUST - Get Free Report) shot up 67.9% during mid-day trading on Thursday . The company traded as high as GBX 214 ($2.83) and last traded at GBX 211.61 ($2.80). 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 ($1.66).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank started coverage on shares of Just Group in a report on Monday, July 7th. They issued a "buy" rating and a GBX 209 ($2.76) price objective for the company.

Just Group Stock Up 67.9%

The company has a market capitalization of £2.21 billion, a PE ratio of 24.62, a PEG ratio of 0.47 and a beta of 1.51. The company's 50 day moving average is GBX 137.19 and its two-hundred day moving average is 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.

Insider Transactions at Just Group

In other Just Group news, insider Mary Phibbs purchased 30,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of GBX 144 ($1.90) per share, with a total value of £43,200 ($57,067.37). 1.99% of the stock is currently 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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