Just Share Discussion Threads

[fez77] 10/8/2017 14:46

Thanks Anley and thanks 18BT also. Very helpful and useful posts.

[anley] 10/8/2017 11:10

FEZ77......my accountant explains some aspects of Balance Sheets that I do not understand as well as giving his opinion when we sit down together as trustees to the Family Partnership fund which is called Assets at a Discount. We also buy dividend producing stocks and reinvest the dividends back into the new shares and then we have an actuary who looks at long term payout trends so in a way you can see why we like JUST.

Now that should give you a clue as to how we invest and by the way look at 18BT post for example as that constitutes a very good post......

I had a long period in the City,,,,,,,,,then a director of our family housebuilding business,,,,,,,and retired at 55 to look after the family money these past 20 years. I still know how the City works and have access to research as two members of the family work in the "Sq Mile".

[18bt] 10/8/2017 07:19

Quite a lot of press comment on L&G's mortality reserve release this morning.

[fez77] 09/8/2017 22:23

I like Anley post of 27 July - No 46 of 56. I'm going to repeat it:-

"At lunch today my accountant explained the business model of JUST..........and this is a cash cow as is the competition in this segment of the insurance industry.

We worked out the Panmure Gordon estimates and came to the conclusion that 190p was going to be our get out price having paid 140p for our stake..............

We will sit back and wait as I am not that active as a poster."

Anley - is your accountant a financial guru? Mine just does my self-employed books each year!

[18bt] 09/8/2017 17:16

Quite a number of interesting things in L&G of relevance:
- growth in individual annuities
- equity release market to grow to £3bn this year where Just is strong
- quoting on £12bn of DB de-risking, JUst should surely win a proportion
- and last but not least the mortality release as more people in the annuity book have died than expected. They appear to be going to adjust their base tables at the year end- that could be a massive reserve release for a pure annuity player, albeit that the book is shorter as it is medically impaired. Such a release is both capital generative but would also make new annuities more profitable or allow them to offer better yields, which could become a virtuous circle. Looking forward to the Just interims on 13/9

[scrapheap] 09/8/2017 09:11

Legal and general results very interesting 're annuity market growth.

[mount teide] 07/8/2017 13:52

Just Group to beef up workforce as merger savings come early



Retirement specialist Just Group, created from last year's tie-up of Just Retirement and Partnership, is looking to beef up its workforce after hitting a £40m savings target a year earlier than planned.

The FTSE 250 life insurer has hired Legal & General executive Kathryn Grey as its group HR director, with chief executive Rodney Cook telling The Telegraph the group now wants to fill around 60 jobs.

The hiring drives comes as the company - formed after the share prices of the two legacy groups were slammed by reforms to pensions that weakened demand for annuity products - said it has boosted its savings target to £45m.

The group, which sells financial products to savers and companies for retirement, has cut costs by closing its Redhill office, freeing up two floors in its London building and reviewing a swathe of external contracts.

"Naturally when you're one company you don't want to buy paper from two different people - it sounds boring but it's important work," Mr Cook said, emphasising that the merger has bedded in sooner than planned.

"We'll drop the word 'integration' at the end of this year [and] bring our programme to a conclusion a year early. The word [integration] harks back to the past and to some extent people see it as a sort of negative."

In a business update for the six months to June 30, the group also said new business sales rose 3pc on last year to £975m. Shares in Just Group were up 6pc following the announcement.

The new jobs are expected to come into Just's London and Reigate offices, and across business lines. Mr Cook said he further M&A deals were not currently on his radar.

[18bt] 07/8/2017 13:51

Yes, should allow cheaper capital raising in due course

[qs99] 07/8/2017 10:31

Market likes it!

[qs99] 07/8/2017 07:21

Nice to see the A ratings

[qs99] 31/7/2017 10:40

little more of a push and through £1.50 should IMO signal a solid breakout...GLA and DYOR

[qs99] 31/7/2017 09:56

great, so any more trimming should help this trend higher IMO GLA

[mount teide] 31/7/2017 09:53

Odey trimmed from their short position from 1.49% to 1.39% on 11th July but are probably now well under water again following the sustained rise post the 6 month update.

[qs99] 27/7/2017 18:03

Fair play and welcome on board. Some brokers have north of £2 as TP
Dyor

[anley] 27/7/2017 17:50

At lunch today my accountant explained the business model of JUST..........and this is a cash cow as is the competition in this segment of the insurance industry.

We worked out the Panmure Gordon estimates and came to the conclusion that 190p was going to be our get out price having paid 140p for our stake..............

We will sit back and wait as I am not that active as a poster.

[mount teide] 27/7/2017 10:39

Odey do not seem to like the latest buying pressure - the warning sign was when most of the other funds short recently broke ranks and, started a disorderly move for the exit door, that seems to have accelerated into a rush during the last few weeks.

[mount teide] 27/7/2017 10:39

Odey do not seem to like the latest buying pressure - the warning sign was when most of the other funds short recently broke ranks and, started a disorderly move for the exit door, that seems to have accelerated into a rush during the last few weeks.

[qs99] 27/7/2017 08:08

Decent opening

[mount teide] 26/7/2017 16:41

Looking strong in the closing auction - 229K @139.2p.

[qs99] 26/7/2017 08:26

thanks 18BT....hope they can place the remaining p/e houses stakes smartish then!

[18bt] 26/7/2017 08:13

Big article by Questor in the Telegraph this morning. Buy Rec. Points to the share over hang, but then points to the example of SJP whose share price has doubled since the HBOS stake was placed in 2013.

[mount teide] 20/7/2017 09:35

18 July - Numis maintain their 'BUY' rating on Just Group, with a £2.20 target price.

[qs99] 18/7/2017 20:49

hopefully someone will be attracted to that company profile if share price stays where it is...

[18bt] 18/7/2017 18:17

At 7% margins, capital generation will be quicker or absorption slower. That ought to allow greater dividend potential in due course.