Just Group (LON:JUST) Trading Up 68% - Here's What Happened

Key Points

• Just Group plc shares surged by 68% during trading, reaching a high of GBX 214 ($2.84) after previously closing at GBX 126 ($1.67).
• Berenberg Bank initiated coverage with a "buy" rating and set a price target of GBX 209 ($2.77) for the stock.
• Insider Mary Phibbs purchased 30,000 shares of Just Group at an average price of GBX 144 ($1.91), indicating confidence in the company's future prospects.

Just Group plc (LON:JUST - Get Free Report) shares shot up 68% during mid-day trading on Thursday . The company traded as high as GBX 214 ($2.84) and last traded at GBX 211.69 ($2.81). 58,536,586 shares were traded during trading, an increase of 630% from the average session volume of 8,019,415 shares. The stock had previously closed at GBX 126 ($1.67).

Analysts Set New Price Targets

A number of research firms recently issued reports on JUST. Berenberg Bank began coverage on Just Group in a research report on Monday, July 7th. They set a "buy" rating and a GBX 209 ($2.77) price objective for the company. Deutsche Bank Aktiengesellschaft cut Just Group to a "hold" rating and boosted their price target for the stock from GBX 170 ($2.26) to GBX 220 ($2.92) in a research report on Thursday.

Just Group Stock Down 0.2%

The company has a current ratio of 2.30, a quick ratio of 4.87 and a debt-to-equity ratio of 43.09. The firm has a market cap of £2.20 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.47 and a beta of 1.51. The firm has a 50-day moving average of GBX 139.82 and a two-hundred day moving average of GBX 145.88.

Insider Buying and Selling at Just Group

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

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.