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

Key Points

• Just Group stock soared 67.9% during trading, reaching a last traded price of GBX 211.61 ($2.80) after closing at GBX 126 ($1.66), with a significant increase in trading volume.
• Wall Street analysts from Berenberg Bank assigned a "buy" rating for Just Group, setting a price target of GBX 209 ($2.76).
• Insider transactions indicate confidence in the company, as insider Mary Phibbs purchased 30,000 shares at an average cost of GBX 144 ($1.90) per share.

Just Group plc (LON:JUST - Get Free Report) shares shot 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 changed 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

JUST has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on shares of Just Group in a research report on Monday, July 7th. They set a "buy" rating and a GBX 209 ($2.78) 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 Up 0.1%

The stock has a market cap of £2.21 billion, a P/E ratio of 24.55, a price-to-earnings-growth 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 firm's 50 day simple moving average is GBX 139.82 and its two-hundred day simple moving average is GBX 145.73.

Insider Activity

In other news, insider Mary Phibbs purchased 30,000 shares of Just Group stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of GBX 144 ($1.91) per share, with a total value of £43,200 ($57,362.90). 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.