Share Name Share Symbol Market Type Share ISIN Share Description
Just Group Plc LSE:JUST London Ordinary Share GB00BCRX1J15 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.40 -0.42% 94.10 1,242,502 16:35:20
Bid Price Offer Price High Price Low Price Open Price
94.40 94.55 95.30 93.20 94.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 4,645.20 236.70 16.06 5.9 978
Last Trade Time Trade Type Trade Size Trade Price Currency
17:26:49 O 34 94.088 GBX

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Date Time Title Posts
13/9/202107:26JUST retirement new thread1,507
29/3/200305:17just a thought1

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Just (JUST) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-09-24 16:39:5894.093431.99O
2021-09-24 16:37:2394.231,2271,156.20O
2021-09-24 16:34:4694.7314,30613,552.07O
2021-09-24 16:14:3595.015,6225,341.52O
2021-09-24 16:09:3094.114,1613,915.71O
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Just (JUST) Top Chat Posts

Just Daily Update: Just Group Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker JUST. The last closing price for Just was 94.50p.
Just Group Plc has a 4 week average price of 88p and a 12 week average price of 88p.
The 1 year high share price is 113p while the 1 year low share price is currently 40.80p.
There are currently 1,039,081,664 shares in issue and the average daily traded volume is 1,397,447 shares. The market capitalisation of Just Group Plc is £977,775,845.82.
theoldcodger: Thanks 18BT, a bit more detail about the transaction from Just's perspective is here: hTTps://www.ftadviser.com/mortgages/2021/09/02/just-sells-equity-release-portfolio-to-phoenix-for-300m/
jimmyh1: As I said back in March - no dividend because they can’t afford it. This is heavily geared with temporary capital in the form of transitional relief. Own Funds reduction over the half year. IFRS loss. More debt capital (yes, I am happy to ignore the conversion feature) being raised. So where is the double digit return? I don’t see it except in an irrationally high share price. Oh - except that the share price has fallen 7% today.
18bt: From the IC: Just Group (JUST) results are never entirely straightforward and, at least on a reported level, seemed to show little progress. However, a headline loss was due to reverses on interest hedges as credit rates tightened during the half. Dig further into the figures, and you’ll find the retirement product specialist generated £25m in organic capital (up from £3m in the first half of 2020) and is now well ahead of its target to double growth of this key measure by 2022, so ensuring the underlying stability of its Solvency II ratio. The indirect effect of large cohorts of retiring baby boomers is that companies, with an estimated £2 trillion of total defined benefit (DB) pension liabilities on their balance sheets, are starting to move these risks into the insurance market. Just is a clear beneficiary of this trend as its key DB segment recorded a 20 per cent rise in gross premiums written to £554m, while the popularity of guaranteed income for life products ensured a 27 per cent rise in premiums to £330m. But chief executive David Richardson has ruled out the return of dividends: “Our larger shareholders have said they are satisfied with the mid-teens return-on-capital we are generating at the moment.” He added that Just has built a niche in medically underwritten customers and was ahead of the rest of the market in this specialisation. Despite these solid results, Just trades on six times’ Panmure Gordon’s earnings forecast for 2022. With evidence that cost control and capital generation are both ahead of expectations and, with the shares still trading at a big discount to net assets, there is room for growth. Buy.
whatja: Or sales are not that good…..Aviva and LG have both commented on the slow pension risk transfer / DB transfer market. They may want to focus on capital and its generation…..LG continue to release annuity liabilities due to pandemic impact on longevity risk……..Just will be experiencing the same forces. Looking for an improved capital position, perhaps a small dividend (maybe just flag resumption for the full year will be enough)
whatja: There is no requirement for a trading update, unless results are out of line with expectations. Sales are perhaps not the most important financial metric for a company like just where specific underwriting risks can drive changes in capital requirement more than a new deal. The short term share price is driven by capital generation and he overall capital position, so lower sales may be a good thing to improve the capital position. Hoping for the improvement to recommence.
18bt: Interestingly, I believe JUST is getting some increased interest in its Drawdown GIFL/SLI (Secure Lifetime Income = SLI = Annuity) - which allows part of a SIPP in draw down to be used to fund a GIFL, providing security for the DC pension holder. Novia have put it on their SIPP platform see hTTps://www.novia-financial.co.uk/investments/guaranteed-income/ and I am told that 2 more platforms are in discussion. It is hosted by Spire Platform Solutions hTTps://spireps.co.uk/ Interestingly Spire PS shows another client to be Dunstan Thomas (which has a shareholding) and which is a major SIPP administrator and now owned by Curtis Banks. In total CB has 82,000 SIPP accounts including DT. JUST owns 33% of SPS according to the accounts. Spire Financial has other products on the Nucleus Platform, just acquired by James Hay, an even bigger SIPP administrator. I'm joining dots, but James Hay/Nucleus could well be the second platform. Can anyone confirm or know otherwise?
whatja: It is rare that regulatory reviews of capital regimes require less capital, but the SII review may be one that changes how capital can be deployed. Whether green infrastructure will be given a privileged status is one area that will be of interest, matching adjustment may be an area that can be simplified and some better rules found. As 18BT notes the discount rate is increasing but likely to be offset by losses on mark to market or model corporate debt. Just has published quite detailed analysis of its debt assets which like many have experienced downgrades but low default rates which perhaps matters more in the real world. Credit losses are the canary in the coal mine for insurers of all descriptions. If the govt manages to stave off mass defaults then Just and others will improve their share price.
rikreschem: (Sharecast News) - Broker Peel Hunt initiated coverage of Just Group on Monday with a 'buy' rating and 120p price target. "Just is at the tail end of repairing a strained capital structure," Peel said. "The process is now helping rebuild new business sales, which underpin future cash flow." Meanwhile, it noted the share price has fallen well below the intrinsic value of the company's in-force annuity book. "Whilst the cash is still trapped, hence for now no dividends, the company trades at 0.4x SII Tier I NAV, well below the 0.7-0.8x of listed closed-book Life insurers. We believe this is an opportune moment to buy into a depressed valuation." At 0955 GMT, the shares were up 5.6% at 84.10p
alex4141: Insightful piece on unjust valuations of JUST: hTTps://www.investorschronicle.co.uk/ideas/2021/01/28/just-group-unjust-rating/ FYI: "Earlier this month, RBC hosted a call with Just chief financial officer Andy Parsons, in which he was asked why the company had not yet been bought. “We are open to conversations from interested parties and conversations have happened,” Mr Parsons reportedly said. “All we can do is to focus on ourselves – making our business better will increase the appeal to others.” RBC took this to mean that interested parties will need to bid closer to 200p for a sale to be considered, although a Just spokesperson declined to expand beyond chief executive David Richardson’s comments that 2021 had started “with increased confidence”.
18bt: Deutsche have raised JUST share price target to 84 from 80p. Still a hold. Every little helps.
Just share price data is direct from the London Stock Exchange
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