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or 137.50p average forecast
hard to choose between them?
https://www.tipranks.com/stocks/gb:just/forecast
Meanwhile, for what it's worth:
JPMorgan cuts Just Group price target to 80 (105) pence - 'neutral'
AceofClubs
The YE results stated a target to increase underlying operating profit by 15%. It was £210m for 2021.
So £240m for 2022…..and £120m at HY? Unless there is some expected weighting towards H2.
As this target was only announced in April, you would hope they would have been confident in hitting it at the first marker. Let’s see.
Just Group was boosted by an upgrade to 'market perform' at KBW. They were previously the lowest broker by far with a price on JUST of 48p. A move to market perform is excellent news, let's hope we can move back up towards a £1 then beyond.
PHNX has just purchased Sun life f Canada UK operations for 83% of own funds…let’s see what the equivalent is for Just when they report next week.
Accompanying the announcement of the largest Contract signed by Just was confidence in meeting or exceeding the growth targets for 2022 and beyond.
Surely a rerating is in the offing.
Think someone might be lucky and invested in a life insurance company instead of a takeaway going by last post
While this looks like good news it does depend on how it happened.
Is it cause by upgrades and many have moved up or
If a low one of 50p has expired that is really no change
Do you know which it is?
Seems to have bounced off lows in high 70s.
Nearly at HY….still confident this will make headway, but may need more clarity in the markets about the war, inflation and how credit ratings hold up.
https://www.tipranks.com/stocks/gb:just/forecast
I would buy that for a dollar
Insurance deals (for cash) tend to be much lower than TNAV, say 80% gives 160p. If they want a higher offer it will need to be an all share deal that dilutes the acquirer shareholders.
Clearly there is a large gap between what Just thinks it is worth and what others are willing to pay….they may be opportunistic or just directors over confident.
FWIW I am not expecting a takeover, but rather a steady rise over the next couple of years and so. Expect to be a long term hold. I need 115p to break even….but will not be selling any until we get to 150p.
Quite right. There were some very favourable comments about a 200p takeover price in Investors Chronicle a few months ago. CFO Andy Parsons was quoted as saying “We are open to conversations from interested parties and conversations have happened. All we can do is to focus on ourselves – making our business better will increase the appeal to others.”
Of particular note was the comment: "conversations have happened". A takeover is what I'm expecting. One to watch.
Good luck, Brighty
That's 19p higher than previous Barclays price target of 106p. Anyways, I am on for a long term price target of at least 200p. Back to the bunker I go.
Barclays broker upgrade, overweight PT 125
Gapped up at bell, nearly 10% up. Bid or position building?
Up 8p today already. Nearly at 100p. Should be 150p later this year with retirement Income sales up 25% to £2.7bn
and underlying organic capital generation up 183% to £51m in the latest figures. We are back on track.
Good luck, Brighty
There has been a steady rise in the sp following the results….I suspect this will continue across the next year or so…..still significant upside IMO.
Agree brighty the story of this company is going to get brighter.
I would expect the sp to trade well below NAV, a 30-40% discount would be appropriate and this equates to 117-137
The company is back on an even keel with more balance to its risks. The transition has been somewhat forced by regulators (selling down the LTM book) and incurred considerable costs shown by the write down in the P&L.
For those who want an adventurous CEO….that has been tried and found wanting. Life / annuity companies should be sturdy robust and boring organisations that produce predictable returns for customers and shareholders alike.
Now that the capital position is stronger we can look forward to the operating cash flows being used to enhance shareholder returns by paying down debt to reduce financing costs and raising the dividend. The 1p dividend costs about £10m so when profits are £200m there is a lot of scope to raise it. Similarly the mcap is about 4.5x operating profits….it is trading at a low valuation because of past uncertainty of capital raises….the dilutive threat is passed….we can anticipate a re-rating in the coming months…..
A 25% increase in retirement sales up to £2.7billion has been achieved. That is impressive. Dig a bit further in to the numbers and you will also note the fact that new business profits were also up 13% to £225m. This is clearly further evidence that the company is successfully delivering on its turnaround plan. When you factor in that underlying operating profit was up 9% to £210m and underlying organic capital generation was up by a whopping 183% this is a business model that is starting to deliver juicy numbers. Plus we also have the dividend reinstated. Good luck, Brighty
I have decided that I don't know enough about the mechanics of this company, having made money over the years trading its swings. I don't like that it shows an IFRS loss for the year and so I'm out today, will consider buying back in at a lower price.
Another depressing but not unexpected set of results. Richardson is selling out assets on the cheap and the market indicates a well earned discount to net asset value of 60%. 2020 proft = £237M - 2021 loss = £21M. Good results, brilliant numbers, what are people on?
Richardson is still trying to justify his actions by imagining a 10% drop in UK house prices - a 10% drop in UK house prices would just take them back to where they were 12 months ago!! (Source: UK Land Registry Index). What is the probability of an immediate 10% fall in UK house prices? The housing market is not National, not Regional, not Local, it varies from individual property to individual property. What proportion of the housing security is sold each year on the termination of equity release deals?
There is more pain to come from the latest sale of assets on the cheap and I am not cheering a 1p dividend. Should we really be grateful for this meagre scrap from the table?
Richardson needs to go and a more positive and ambitious leader installed.
AceOfClubs