JRP Group plc, formerly Just Retirement Group plc, is a UK-based financial services company. In April, the merger with Partnership Assurance completed, following which the Company now provides retirement income products, services to individuals and corporate clients and insurance products. JRP also provides individually underwritten annuities (IUAs) and equity release lifetime mortgages (LTMs). In the IUA market it offers better annuity rates compared with standard annuity providers.
The Company has focused primarily on the core segments of the IUA market (medically enhanced and lifestyle). The LTM product provides a longevity hedge and a high risk-adjusted yield, whilst supporting the credit profile of Just Retirement’s investment portfolio. During the year, the merger with Partnership Assurance completed.
I first noticed JRP.L in November and wrote about the share in this forum on the 9thNovember 2017. Link here to that article. The chart of the share is shown below using my normal template. The chart shows the price, the VectorVest valuation as a green line study and earnings per share (EPS) as a blue line study.
The chart shows the share as undervalued with strong earnings growth. VectorVest calculates that JRP will grow earnings by 25% next year.
Technically since November, the share has broken upwards from an inverted head and shoulders reversal and subsequently traded back and “kissed” the neckline. This is solid bullish behavior. As I write, JRP is pushing on a 52 week high. With the solid fundamentals noted above, JRP.L looks highly likely to break north of this important resistance.
The technical target from the inverted head and shoulders reversal is around 200, while the present VectorVest valuation is 220. At present, the share is trading at 156. If the share can breakout, there is a 30% move to the technical target.
February 21st 2016
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