Just Share Discussion Threads

[scrapheap] 20/10/2020 12:54

Just completes £340m buy-in with Ibstock scheme

[18bt] 19/10/2020 08:48

That's quite big new disclosed shareholding from Fidelity. It doesn't seem to be accompanied by any further selling from SLA.

[nav_mike] 23/9/2020 06:32

Like a death by a thousand cuts with this constant SL selling

Perhaps August 19 lows around 36p are to be tested?

All the more frustrating, when last update was positive and second half was expected to be better

[scrapheap] 22/9/2020 16:28

yup - still over 11% of the company to go if they want out entirely.... that'll take some working...

[18bt] 22/9/2020 14:18

SLA selling another .6% seems to be the reason for more weakness than the overall market. It's still a massive overhang which is holding the stock back.

[jimmyh1] 22/9/2020 09:39

I am bearish on this. Have read through their Solvency and Financial Condition Report and I have very little confidence of a divi starting soon. They seem very full of transitional credit, matching adjustment and debt to leave little room for organic capital generation. Not convinced by the IFRS net assets as a valid starting point for valuation - would be inclined to start from SFCR but in any event this is money that can’t be taken out and won’t be in the absence of a sale.

[salpara111] 19/9/2020 09:15

I've looked at this company a number of times over the last few years.

Personally I want to see them pay a divi before I would take a stake as that is the clearest demonstration of healthy cash flow.

[nav_mike] 18/9/2020 15:50

Blimey that was an unusually awful closing auction on abnormal volume?

[nav_mike] 18/9/2020 15:23

Sigh...looks like chart is breaking down again - will set an alert around 44p offer

You have to wonder just what this company has to do to get a realistic valuation

[18bt] 11/9/2020 08:34

Slightly off topic, but also off-pssing. This from Money Marketing shows the extent of Standard Life and Pru not advising customers of the enhanced annuities - the bulk of which would have gone to JRP and Partnership - indeed Partnership had a referral deal with SL under which, I understood at the time, very few customers were referred. The redres is a fraction of the gross value of the enhanced annuities which would have been sold by them:

Firms pay £135m for enhanced annuities failures
By Katey Pigden 11th September 2020 9:02 am

The FCA took action that resulted in firms paying more than £135m to over 32,500 customers for failures in information about enhanced annuities options.

It revealed the figure in its annual reports and accounts for 2019/20, which was published yesterday afternoon.

The regulator referenced bringing to task Standard Life and Prudential for “unfair sales of non-advised annuities in July 2019 and September 2019.

Standard Life Assurance was fined £30.8m and The Prudential Assurance Company £23.9m for failures related to non-advised sales of annuities.

“These firms did not consistently tell customers nearing retirement with certain health and/or lifestyle conditions that they could get a better annuity if they shopped around,” the regulator said.

It added: “The choice of annuity can affect customers for the rest of their lives. The firms’ failures therefore caused potentially far reaching harm. As a result of our action, redress of approximately £25.3m was paid to 15,302 customers by Standard Life. Prudential offered approximately £110m which includes on-going annuity payments to around 17,240 customers.”

[alex4141] 10/9/2020 12:00

Ridiculous drop today of genuinely undervalued company. Not the greatest source but reminder highlights of the just basic fundamentals from MotleyFool: "

Click here for The Motley Fool UK’s resources on Coronavirus and the market.
Another company I’ve my eye on today is Just Group (LSE: JUST). This business is facing similar headlines to NatWest. But just like the banking giant, the shares look cheap at current levels after the stock market crash. The shares are changing hands at a forward P/B of 0.2.

Considering the extreme uncertainty facing many companies at present, I think the P/B ratio is a good way of establishing value. This gives us some indication of the company’s asset value, which is less volatile than earnings. It also provides a great idea of how much the business could be worth in a takeover or liquidation situation.

Just provides retirement products, so its income is more stable than other businesses. This implies the group also has more headroom to navigate the current crisis. It could even emerge stronger on the other side if it can use its strong balance sheet to acquire peers."

[18bt] 08/9/2020 09:17

Barclays raises JUST Group price target to 67 (60) pence -'Equal Weight'

[18bt] 07/9/2020 09:11

JPMorgan raises JUST Group price target to 68 (63) pence 'Neutral'

[lendmeafiver] 04/9/2020 12:08

Thank goodness for that

[18bt] 04/9/2020 12:03

So the indicative September index changes show that JUST survives in the FTSE250

[jimmyh1] 28/8/2020 18:25

While I agree that Equity Release is a likely growth product, I view this as a highly geared property-backed and other credit play. Geared two-fold: the debt/equity ratio is relatively high and the gearing caused by providing an investment guarantee to annuity customers that is funded through the equity release and other credit assets. Capital news was good at half year but note the increase in TMTP as a result of the notional recalculation. This is £300m of the capital improvement and will need to be “given back” over the next 10 or so years.

[lendmeafiver] 26/8/2020 21:52

I don’t view it that way tresham, equity release is low LTV lending and I expect COVID will result in the over 55’s being impacted employment wise which will increase the use of equity release products over the coming years.

[tresham] 26/8/2020 19:52

Is this a geared play on the property market?

[bubloo] 20/8/2020 07:04

thx nav and 18bt

[18bt] 18/8/2020 13:28

I use Sharepad. It's quite complex see: The rules try to stop companies yoyoing around too often based on short term price movements. At 237, JUST is in the "zone". The market cap for entry 225 (i.e. automatic entry) is £595m. There are 5 stocks and very nearly 6 stocks at that level, so JUST might be OK.

[nav_mike] 18/8/2020 12:19

Sharescope has them at 237/250 on yesterdays closing numbers

There are 4 companies in the 250 with a mcap at least 100m lower. Is there a set number of promotions/demotions?

[bubloo] 18/8/2020 10:15

Dear 18BT
Where do you find the list of Ftse 250 by market capitilisation please

[18bt] 18/8/2020 07:12

I think there is some index selling going on here. At this level it is touch and go whether they remain in the FTSE250 at the next review - I fear that this will become self fulfilling despite the good results.

[nav_mike] 17/8/2020 15:45

Im surprised weve dipped quite so much on what I thought were v good results, but I guess there were profits to be taken on the move from 44p

[18bt] 17/8/2020 09:35

£56k vote of confidence by new Chair