Just Group (LON:JUST) Trading 67.9% Higher - Here's What Happened

Key Points

• Just Group shares surged by 67.9% during trading on Thursday, closing at GBX 211.61 ($2.80) after reaching a high of GBX 214 ($2.83).
• Berenberg Bank initiated coverage on Just Group, providing a "buy" rating with a price target of GBX 209 ($2.76), signaling positive growth expectations.
• Insider Mary Phibbs purchased 30,000 shares at GBX 144 ($1.90), indicating confidence in the company's future performance.

Just Group plc (LON:JUST - Get Free Report)'s stock price rose 67.9% during 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 traded hands during mid-day 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).

Wall Street Analysts Forecast Growth

JUST has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of Just Group in a report on Monday, July 7th. They issued a "buy" rating and a GBX 209 ($2.77) price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Just Group to a "hold" rating and lifted their price objective for the company from GBX 170 ($2.26) to GBX 220 ($2.92) in a research note on Thursday.

Just Group Trading Down 0.2%

The firm has a market cap of £2.20 billion, a PE ratio of 24.50, a PEG ratio of 0.47 and a beta of 1.51. 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 stock's fifty day simple moving average is GBX 138.49 and its two-hundred day simple moving average is GBX 145.40.

Insiders Place Their Bets

In other Just Group news, insider Mary Phibbs acquired 30,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of GBX 144 ($1.91) per share, for a total transaction of £43,200 ($57,340.06). Company insiders own 1.99% of the company's stock.

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.