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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Just Retirement | JRG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 154.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 154.60 | 154.60 |
| Top Posts |
|---|
Posted at 28/9/2015 08:38 by scrapheap JRG ex rights now so catches up with PA dilution. |
Posted at 29/7/2015 21:53 by scrapheap Broker says Partnership and JRG 'materially undervalued' on annuities data(ShareCast News) - Data released by the insurance industry showing the impact of new UK pension freedoms has good implications for Partnership Assurance and Just Retirement, said Panmure Gordon. The broker's 'buy' recommendation was reiterated on both companies, in the stated belief that the shares are "materially undervalued". The Association of British Insurers (ABI) released some statistics from the first 100 days since the UK pension reforms came into play. Some 11,300 annuity retirement plans were sold, worth £630m compared to £1.2bn in the same period in 2012, while sales of income drawdown products have increased to £720m from £100m in the equivalent period. The average annuity was purchased with a pot of £55,750, which Panmure said was in line with its view that those with £50,000 to £300,000 pension pots will look to acquire incomes for life - that is, annuities - rather than cashing in and facing tax implications or entering a drawdown. As expected there have been those with small pots cashing in with around 65,000 withdrawals of an average £15,500, accounting for £1bn of the total of £1.8bn withdrawn in the period. The 50% fall in annuity sales, said analyst Barrie Cornes, "is considerably better than many of the doom-mongers had predicted and in our view bodes very well for the likes of Partnership Assurance and Just Retirement" as the pair are likely to additionally benefit from what in effect will be a significant hike in the number of people taking the open market option (OMO) which allows them to shop around for the best rate. The two companies also have value attractions, Cornes added, pointing out that the both shares are trading at significant discounts to their respective embedded values. "In our view the figures reinforce our view that the individual annuity market is not dead which might come as a surprise to those who predicted its demise following the Budget changes announced in March 2014." According to his estimates, Partnership shares were trading at a 5% discount to Panmure's 2015 forecast embedded value while Just Retirement was trading at a massive 18% discount to EV forecast at 30 June 2015, increasing to 25% at 30 June 2016. |
Posted at 27/2/2015 10:54 by scrapheap I will be seeking enhanced annuity quotes for some clients who've waited for April from next month... would be interested to hear from JRG and PA. if they see quote requests increase in the coming weeks more generally... |
Posted at 24/2/2015 07:55 by scrapheap Well those results were better than I expected, embedded value £2+ and a confident interim dividend as well... not bad at all and with exciting volumes to come from April in my opinion in the individual space as that recovers.. |
Posted at 01/1/2015 18:06 by rathlindri JRG tipped in the Telegraph Sunday 28/12/14, possible take over target? |
Posted at 20/12/2014 11:10 by scrapheap I have to say I'm a little surprised that recovery funds like M&G Recovery perhaps haven't seemingly picked up either PA or JRG.Surely these sorts of themes would have been exactly their 'scene' - unless I suppose they are bearish and see no recovery!!! |
Posted at 18/9/2014 07:31 by scrapheap Nice to see a decent dividend in today's results. Yes there's challenges, especially short term, but the booming LTMs, growing DB derisking and launch in to INAs along with enhanced annuity business just over 50% down is not a bad place to be as I expect a lot of that business to return post April 2015 - plus new products to come too.Embedded value of 191p I think i read too. |
Posted at 08/9/2014 15:02 by scrapheap Encouraging that per HL website today, Panmure Gordon has reiterated Buy on JRG and a price target of 225p. |
Posted at 17/7/2014 13:31 by scrapheap Reliance Mutual is pulling out of the enhanced annuity market - their smoker annuity had historically seen them take some business from PA and JRG in my experience... one less competitor therefore in this space. |
Posted at 01/5/2014 15:42 by hawkhybrid I agree mostly with the article.I don't like this line however : 'I still mildly prefer Partnership to Just Retirement, mainly on valuation grounds.' just because it has dropped more, it doesn't mean it's better value. it feels like they're stubbornly sticking to their guns. despite the fact that by their actions jrg have probably made investors more confident in holding onto their shares, hence the better rally. each company should be credited by it's individual merits. I'm out now, whilst jrg could still rise further it may take much longer for them to do so. most importantly it'll take a more capable person than me to increase my profits from here. good luck all HH |
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