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Phoenix Group Share Discussion Threads
Showing 2151 to 2175 of 2175 messages
|Must be a bargain at these levels and with 24p divi locked in this week.|
|Yes very reassuring.|
|well she paid more than me ! always good to see director purchases ..
|Wendy Mayall, initial notification of share purchase(795p):-
|Bought a few at 777, hopefully not jumped in too early here !
|Indeed it is, edmundshaw, and a great (and growing) divi imminent too!|
|875p. That's more like it! :-)|
|Deutsche Bank Buy 782.75 835.00 875.00 Reiterates|
|Just taken a small, probably premature, top up at 782p as I was reasonably impressed by the results from Monday. Fingers crossed and all that stuff.|
|Just stocked up the ISA - nice ex-divi next week.|
|I am not too worried about the current price movements. Bearing in mind there might be institutions with large holdings after the rights issue, it would not be surprising if some took the opportunity of solid results to rebalance their portfolios.
For me this is now a very solid hold until there are further decent price gains (or until a dip makes it an adding opportunity). Great yield makes sitting on hands easy.|
|A few lines from Citywire:-
Numis: Phoenix's AXA Wealth buy surprises on upside
Insurer Phoenix Group’s (PHNX) acquisition of AXA Wealth has generated £32 million more in cash than was initially forecast.
Numis analyst Marcus Barnard reacted by retaining his ‘hold’ recommendation and target price of 785p on the stock after it reported what he described as ‘decent’ full-year results. The shares added nearly 7p on Monday to close 0.9% up at 798.4p.
‘Overall a decent set of figures with a better than expected capital surplus, and increased synergy benefits from AXA Wealth,’ he said.
The AXA Wealth acquisition has generated £282 million of cash, ahead of the original £250 million target, and cost synergies are expected to be between £13 million and £15 million. This is higher than previous guidance of £10 million.
‘The outlook statement highlights the focus on delivering the planned cost and capital synergies. The group remains on the lookout for further consolidation opportunities,’; said Barnard.|
|Thanks for link to Times article, Skinny. Much appreciated.|
|Are we at an all-time high? Previous was 940p in March 2016. This is 970p in old money.|
|JP Morgan Cazenove Overweight 799.25 793.00 826.00 Reiterates|
|A 40% increase in the 4 year cash generation target. Fantastic.|
|Phoenix has £1.5bn for deals|
|Tempus in The Times.
As a business Phoenix is predictable to a fault. The company said a year ago that it would generate £2bn of cash between 2016 and 2020. It then bought two more closed assets, one from Axa, the French insurer, for £373m and the Abbey Life business from Deutsche Bank for £933m. The Phoenix model is to buy such closed or “zombie” funds and get cashflow from the inevitable cost savings. The savings from the Axa business are running ahead of expectations; Abbey Life has only been with the company since the year end but the omens are promising enough.
So Phoenix has lifted its 4 year cash generation target to £2.8bn. Phoenix is sufficiently confident, and the business is sufficiently predictable, for it to forecast a halfway dividend of 25.1p this year, up by 5% on last time. On the assumption that the same will be paid at the final stage the shares offer a guaranteed yield of 6.3%, about as good as it gets.
Phoenix raised the funds to buy Abbey Life in a rights issue at 729p. The shares added another 6p to 797 ½ p. The only question is the timing of the next deal, but there will be one.
My advice Buy. Why - Company’s long-term record speaks for itself
|PHNX,Yes a good sound core holding.|
|boonkoh, Phoenix always seems to have been valued conservatively, which is a boon for long term investors. I am very happy to hold here, I would rather keep the steady valuation and draw the income.|
|Surprised it has not risen more today. 6%+ current yield and management guiding further increases in dividend for FY2017. Consolidation of acquired books going to plan.It's almost like a pseudo-bond investment over the long term, but with a tasty 6% yield.|
|Congrats folks, sold mine too soon.
Just wanted to say thank you for some of the posts on here which prompted
me to look at PHNX more closely and buy, but not sell at this lovely price!.
Very much appreciated.|
|yupa - thanks. Last two acquisitions were below £1bn each.|
|Thanks for the reminder, Yupa. The numbers are certainly stacking up for that sort of value-enhancing acquisition.|