Report: Just Group Sells Another Portfolio of Lifetime Mortgages, This Time for $933M

According to a report published by Reuters, retirement management services provider Just Group PLC (GB: JUST) has sold a lifetime mortgages portfolio to a U.K.-based pension insurer, Rothesay Life, for £687 million ($932.88 million).

As of December 31, 2021, the portfolio had an outstanding loan balance of £537 million and an accounting value of £772 million.

It was Just Group’s third and last lifetime mortgage portfolio sale in the past 15 months.

Based out of Surrey, the company offers retirement management products, services and advisory to individuals, financial intermediaries, corporate clients, and pension plan trustees.

Analysts’ Take

Last week, RBC Capital analyst Mandeep Jagpal maintained a Buy rating on the stock with a 160p price target (82.2% upside potential).

Based on 1 Buy and 2 Holds, Just Group has a Moderate Buy consensus rating. The average Just Group price target of 133p implies 51.5% upside potential from current levels. Shares have gained 16.2% over the past year.

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