Just Retire. Share Discussion Threads

[kickoff3pm] 11/7/2008 22:26

Looks to me like the general market conditions have created a lot of openings.

This one seems to have been just getting restarted when it hit so it's a double bonus for those entering now with a bit of luck. Looks to me like it's a decent punt, risk to profit looks very good. So I've bought today at 92p with a month target of £1.50 and a stop of 80p.

Best of luck everyone.

KO.

[masurenguy] 26/6/2008 15:43

A further 8% drop today on the largest volume in more than 5 weeks. Share price has declined by 27% so far this months without any newsflow. Seems like JR is just being marked down like the rest of the financial sector yet it is self funding in terms of equity release and annuities and has "no exposure to Collateralised Debt Obligations, Monoline Wrapped Securities or Mortgage Backed Securities." (March Interim Statement).

Looks like a good buying opportunity to me so I have topped up today.

[masurenguy] 24/6/2008 11:38

A 9.4% drop this morning on a small volume of 40K shares and no applicable newsflow. Seems to have been some volatility lately on low volumes. The Q4 update is about 5 weeks away on August 1st.

[welsheagle] 23/6/2008 19:37

From May's 'Company Refs', when price was 102p:-
a/ Prospective PE ratio of 5.63 (based on two broker forecasts, both recommending 'buy').
b/ Forecast growth in eps of 73.1%.
c/ Prospective PEG ratio of 0.08.
d/ Net cash per share of 0.48p.
e/ Positive gearing of 1.38%.
f/ Two directors buying in last six months.

[the dweller] 22/5/2008 11:56

should be looking at the 160-170 range by the end of the summer.

[abcd1234] 16/5/2008 09:10

Indeed Masurenguy
Though many of us waited for the breakout above 105p to trade this to hopefully 150p
However volume is/can be low on jr. and it can be volatile, so who knows how long the ride will go on for

[the dweller] 16/5/2008 08:57

I said 136 seems a bit low.. didn't I say!
Maybe they listened to me.

[masurenguy] 16/5/2008 08:50

Seems to have added to the recent momentum here. I should have bought more than I did below 100p !

[welsheagle] 15/5/2008 20:17

Panmure Gordon have reiterated their 'buy' recommendation today, and increased the target price from 133p to 166p.

[abcd1234] 07/5/2008 12:00

That's an impressive inverted head&shoulders with good supp just above 100p

Clearly there were/are buyers who have been waiting for a breakout to buy back in to JR. ;O)

[the dweller] 07/5/2008 10:52

Looks like the Telegraph tip brought a fair bit of awareness to the company.
118.75 today..

Looking forward to next quarter's new business results - due end of July, if last year is anything to go by.

[welsheagle] 06/5/2008 07:19

Thanks, Measurenguy.

[masurenguy] 05/5/2008 20:37

Daily Telegraph
04/05/2008

Just Retirement
110p
Questor says Buy

For most people, retirement is not something we can afford to look forward to any more. In fact, more and more people are heading into it with dread as they desperately work out how they can live in some measure of comfort. Against this backdrop, Just Retirement, the life assurance group that focuses on people nearing, or in retirement, published a strong set of new business figures this week. The group said that its third-quarter sales had risen 12 per cent to £187m, while its nine-month numbers were 20 per cent ahead at £571m, ahead of most analysts' expectations.

That growth has slowed should come as no surprise. The company has noted a tendency for about a quarter of its potential customers to defer purchasing annuities in the current investment climate. At the same time, the slowdown in house prices has caused nervousness among homeowners considering equity withdrawal schemes. Nevertheless, a recent survey by Watson Wyatt suggests the annuity market looks set to almost double from £11bn to £20bn a year over the next three years.

Just Retirement has just signed a distribution agreement with Bradford & Bingley that will enable the group to sell its equity release products across the bank's 197-strong branch network. The company suggested this week that it was seeing recent signs of improvement, suggesting that its current rating of less than 10 times 2008 earnings looks unchallenging. At the beginning of this year, Questor was inclined to avoid the group, but with the robust statement this week, and given that annuity deferrals cannot last for ever, Questor believes this could be a good time to buy back.

[welsheagle] 05/5/2008 19:40

Tipped in the Telegraph!
Can anyone post the article.

[masurenguy] 05/5/2008 01:18

"Surely the equity release market is suffering along with the general malaise in the housing market?"

'Just Retirement, which offers annuities and housing equity release policies
to people approaching retirement, said it had total sales of £184.7m in the three months to March 31, up from £164.8m in the same period last year. Annuity sales rose to £147.6m, a 12.9% increase, while sales of equity release policies rose 8.8% to £37.1m.The company also announced a new distribution deal with mortgage lender Bradford & Bingley PLC which will market Just Retirement's equity release products through its branch network.'

[nurdin] 04/5/2008 13:47

whats the attraction here I wonder.Surely the equity release market is suffering along with the general malaise in the housing market?

[the dweller] 02/5/2008 11:06

136 seems a bit low to me, considering the floatation at 145, and the growth and further potential identified since then.

[welsheagle] 28/4/2008 20:46

Panmure Gordon reiterated their 'buy' recommendation today with a target price of 136p.

[masurenguy] 28/4/2008 10:22

Over the longer term the B & B link could prove to be quite lucrative. I would like to see them establish a similar relationship with other mortgage providers in the future and there might also be some cross selling opportunities for their impaired annuity products into the same sector.

[the dweller] 28/4/2008 09:05

All good.
Hopefully that will translate into an increase in share price.
I liked the B&B news. I wonder how much that is worth?

[welsheagle] 28/4/2008 07:20

RNS Number:1854T
Just Retirement (Holdings) plc
28 April 2008



JUST RETIREMENT (HOLDINGS) PLC
("JUST RETIREMENT" OR "THE COMPANY")

THIRD QUARTER 2007/8 NEW BUSINESS FIGURES

Just Retirement, the specialist UK life assurance group focusing on the
provision of financial services to those at or in retirement, today announces
its new business figures for the third quarter ended 31 March 2008.

HIGHLIGHTS

* Group total sales in the third quarter of #184.7m, up 12.1% on
corresponding period of previous year (#164.8m)
* Group total sales in nine months to 31 March 2008 of #571.7m, up 20.5%
year-on-year on the corresponding period (#474.4m).
* Based on a recent study by Watson Wyatt, Just Retirement now expects the
total UK annuity market to almost double in size over the next three years
and for enhanced annuities to increase their share of this market from the
current market share of 11%.
* Equity release distribution partnership signed with Bradford & Bingley,
one of the largest providers of equity release products in the UK, giving
the Group access to 197 branches nationwide.

NEW BUSINESS RESULTS

#m (unaudited) 3 months ended 3 months ended %
change
31 March 2008 31 March 2007

Annuity Policies 147.6 130.7
12.9%
Equity Release Mortgage Advances 37.1 34.1
8.8%
Group Total 184.7 164.8
12.1%


#m (unaudited) 9 months ended 9 months ended %
change
31 March 2008 31 March 2007

Annuity Policies 460.7 401.8
14.7%
Equity Release Mortgage Advances 111.0 72.6
52.9%
Group Total 571.7 474.4
20.5%


Mike Fuller, Chief Executive of Just Retirement, commented:

"I am pleased to report that the positive indications highlighted in our recent
interim results are now becoming apparent in our new business figures.

Despite a slow annuity market - where we believe that up to one quarter of
retirees may have taken the decision to delay purchasing an annuity - we have
delivered year on year growth of 14.7% in sales. We are confident that these
deferments will begin to be reversed in the next few months since it is not
generally possible for the majority of retirees to forego the income generated
in the medium term.

As anticipated, our equity release business has continued to progress well. Year
to date growth against the comparable period is a very strong 52.9%, while the
business has shown resilience in current conditions, delivering 8.8% growth
against the equivalent quarter last year.

I am delighted to announce that we have signed a distribution agreement with
Bradford & Bingley Group plc enabling Just Retirement Solutions, our advisory
distribution business, to market equity release products via its 197-strong
national branch network and to their large existing customer base. This
arrangement should increase volumes in the coming financial year over and above
those already generated by SAGA and a number of large IFA groups which already
introduce their customers to the Group.

Just Retirement was a sponsor of the Watson Wyatt 'At Retirement Study' the most
extensive analysis of its kind to date in the UK. The results suggest
significant sustained growth of almost 20% per annum in the annuity market over
the next ten years. The study's approach was substantially evidence-based and
data-driven, however its findings are supported by the fact that personal
pensions were introduced exactly 20 years ago. Monies invested from this time on
are now starting to mature as a growing number of people reach retirement.

Based on the information contained in the study, the individual annuity market
is likely to grow from #11bn in 2007 to #20bn within the next three years.
Additionally, we are confident that the share of the market taken by enhanced
and impaired annuities will continue to grow from the 11% level achieved in the
final quarter of 2007, boosted by impending regulatory initiatives in regard to
the operation of the Open Market Option, in the context of the FSA's Treating
Customers Fairly. The medium term outlook is therefore very strong both from a
market perspective and the Group's state of readiness to secure growth from it.

During the third quarter, annuity market conditions remained subdued, owing
largely to consumer confidence. However, there are recent signs of improvement
which may suggest that these adverse conditions could be coming to an end.
Current trading remains encouraging for equity release as we reap the rewards of
a new pricing strategy adopted early in the New Year. We remain confident of
meeting our expectations for the current financial year."

A conference call for analysts and investors will be held at 9.00am this
morning. Please contact Lindsay Noton at Citigate Dewe Rogerson on 020 7282 1032
for dial-in details.

[welsheagle] 12/4/2008 19:59

From February's 'Company Refs', when price was 95p:-
a/ Prospective PE ratio of 5.33 (based on two broker forecasts, both recommending 'buy').
b/ Forecast growth in eps of 52.2%.
c/ Prospective PEG ratio of 0.10.
d/ Net cash per share of 0.48p.
e/ Negative gearing of -1.38%.
f/ Two directors buying in last six months.

[the dweller] 02/4/2008 15:38

I don't think it would take much for this stock to raise back up to the 170s.
Anything along the lines of an increase in the 2nd 6 month dividend.. maybe a reference deal with another company and possibly some analyst expectations being exceeded for the last 6 months of their financial year would do it.