Just Group (LON:JUST) Trading 68.3% Higher - Here's What Happened

Key Points

• Just Group's stock price surged by 68.3% during trading, reaching a high of GBX 214 ($2.84) after previously closing at GBX 126 ($1.67).
• Berenberg Bank initiated coverage on Just Group with a "buy" rating and a price target of GBX 209 ($2.77).
• Insider Mary Phibbs purchased 30,000 shares at an average price of GBX 144 ($1.91), demonstrating confidence in the company.

Just Group plc (LON:JUST - Get Free Report)'s share price shot up 68.3% during mid-day trading on Thursday . The company traded as high as GBX 214 ($2.84) and last traded at GBX 212 ($2.81). 67,830,250 shares changed hands during trading, an increase of 739% from the average session volume of 8,082,637 shares. The stock had previously closed at GBX 126 ($1.67).

Analyst Ratings Changes

A number of analysts have recently issued reports on JUST shares. Berenberg Bank assumed coverage on shares of Just Group in a research note on Monday, July 7th. They issued 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 increased their target price for the stock from GBX 170 ($2.26) to GBX 220 ($2.92) in a research report on Thursday.

Just Group Stock Performance

The firm's fifty day moving average price is GBX 139.82 and its 200 day moving average price is GBX 145.82. The firm has a market cap of £2.20 billion, a P/E ratio of 24.50, 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 quick ratio of 4.87 and a current ratio of 2.30.

Insider Activity

In other Just Group news, insider Mary Phibbs purchased 30,000 shares of the stock in a transaction 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). 1.99% of the stock is currently owned by 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.