RE: Very quiet board -----26 Apr 2017 11:15
I agree with Hottentot that this is an excellent trading share, but for me it is a long-term play. JRP's share price should be around 160p as a 'no growth' price. But they are still integrating the two companies and synergies could grow further. They have sufficient capital for their business plans through to 2020 (as noted in the recent results update), and their key markets of bulk annuities (volumes forecast too be 50% higher in 2017 than 2016) and equity release (Equity release grew 77% between March 2016 and 2017 on recent data from Equity release council) are in a massive growth phase, as well as the regulator (FCA) indicating recently that they will insist all insurance companies with maturing pensions will have to publish open market quotes on their maturity packs - JRP currently win 40% of open market annuities, so this would open up another c.£1-2bn of annuities for them to compete for which would be a massive boost to volumes.
During all this activity, the share price has dropped from 160p to 125p just because the PE owners are selling out part of their investment.
Feels like a massive opportunity to me (you may note I've done my research - suggest you do yours too), certainly short term to reach 160p, but I would hold on for the ride up to >200p. Analysts priced them post-FY16 results in March at 160, 177, 200, 207 and 220p; and nothing has fundamentally changed since except the flood of PE shares into the open market.
DYOR but IMO, buy them why you can!