Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Grp(DI) LSE:PHNX London Ordinary Share KYG7091M1096 ORD EUR0.0001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.00p +0.28% 714.00p 713.50p 714.50p 715.00p 709.00p 709.00p 109,686.00 10:01:33
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 685.0 185.0 89.8 8.0 2,804.81

Phoenix Grp(DI) Share Discussion Threads

Showing 2001 to 2024 of 2025 messages
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DateSubjectAuthorDiscuss
06/12/2016
10:11
A brief mention of Phoenix in the IC, in an article about rights issues: "Phoenix Group's recent decision to buy Abbey Life for £935m looks to be a much shrewder move. After much media speculation, the life insurance fund specialist finally convinced Deutsche Bank to cede its ownership for 23 per cent below the traditional measure of the book's value. Deutsche's perilous financial situation made it an eager seller, leaving Phoenix, and those who backed the £735m rights issue, with a potential bargain. Abbey Life's unit-linked vehicles require less capital than guaranteed products such as annuities, so there's a chance it will lift Phoenix's Solvency II ratio. Marcus Barnard at Numis reckons the acquisition could boost future cash flows by £1.6bn, and ensure that the extremely attractive dividend continues to grow. Based on these estimates, the shares, which have barely moved since the agreement was first announced, are worth picking up."
rcturner2
01/12/2016
11:26
Weakness here may just be general market jitters due to the Italian referendum this week-end.
orinocor
01/12/2016
09:07
Brief written interview (2 pages) with Phoenix Life's Andy Moss... Firing Line: Phoenix Life's Andy Moss - HTTPS://www.ftadviser.com/your-industry/2016/11/30/firing-line-phoenix-life-s-andy-moss/
speedsgh
01/12/2016
07:32
Anything under 750p is a bargain in my opinion.
rcturner2
01/12/2016
06:51
Regarding the share price, MCEV is sensitive to interest rate increases/swap rates. There's reference to this in the annual reports and we discussed it here, though not recently. The market tends to get jitters from time to time about this sort of thing. PHNX has made two decent acquisitions this year. Chesnara has just bought L&G's Dutch life business at a very big discount. I think Solvency II is causing big companies to dispose of non-core operations at a discount, benefiting both parties. The only constraints will be the appetite of shareholders for more fundraising and the time and effort in integrating new operations. I imagine there won't be more for a while.
jonwig
01/12/2016
04:00
Just think long term,and a possible 25% upside,and a juicy 7% Dividend yield,if you buy now around 710p
garycook
30/11/2016
18:36
A large increase in the number of shares will have some effect and may drag on the price for a while.
rcturner2
30/11/2016
18:22
So can anyone explain the continuing weakness in the share price? That's quite a share price drop the last couple of weeks.
orinocor
30/11/2016
17:36
Longevity swap: 2014 AR, p.11: We completed a transaction to re-balance exposure to longevity risk from the PGL Pension Scheme. This involved Phoenix Life Limited de-risking certain with-profit funds (via the closure of a legacy longevity indemnity agreement with a Group holding company) and entering into a longevity swap insurance (covering approximately £900 million of PGL Pension Scheme liabilities) which was simultaneously reinsured on a 50% quota share basis. The overall impact of the transaction on the Group MCEV was a gain of £91 million. Surrender and transfer penalties. Addressed as a risk in the latest prospectus. Revision of pension freedom policies by new chancellor should (imo) limit the scope for these. As danger said (post #2002) your arguments were largely content-free.
jonwig
30/11/2016
16:54
That's a bit of a vague analysis without any figures or back up info. I personally doubt that these factors will have much of an impact - certainly compared to the management actions of removing admin costs and freeing reg cap from the combined businesses. AXA & Abbey Life transactions alone should generate £0.8b by 2020 and £1.3 from 2021 onwards. I would imagine these figures would dwarf the factors you are concerned about.
dangersimpson2
30/11/2016
16:14
I had this on my watch list, but am removing it now, because whilst it's possible to make more money by managing closed life and pension funds, because there are no new business costs, and administrative costs, both investment and management, will be less; there are other factors in play now that will affect the profits. Firstly, Phoenix took out a longevity swap in 2014 on its own company defined benefits pension scheme, which involves it in making annual payments to cover the longevity risk of its own pensioners, and these payments increase costs: and also, the government is passing legislation to prevent the large early surrender and transfer penalties on pensions, which penalties are particularly high on the old pension contracts that Phoenix are and will be managing. The loss of this not insignificant revenue - which is not spoken about or advertised for obvious reasons - will significantly affect the company's future profits. In short, managing closed arrangements is cheaper, but the extra costs and lower profits of the above items will eat into these potentially higher returns. If you've got a profit from holding PHNX, I suggest you take it now before the share price falls back even further.
andrewbaker
27/11/2016
17:38
Edmundshaw - re the current price of 748p being equivalent to 888p old money. I held 2285 shares pre rights purchased at 875p costing £20k. I let my rights lapse and received a payment of £2538. Based on your figures I should be breaking even at around 735p but find at this price I am around £500 down. Is that correct?
rl34870
10/11/2016
11:55
Current price 748p equivalent to 888p old money. Very fortuitous if you are Chinese!
edmundshaw
10/11/2016
09:35
I'm back in here now, happy days at this price.
rcturner2
10/11/2016
09:33
Selftrade did credit the new fully paid shares yesterday afternoon. Glad to see a bit of a bounce this morning.
budsman
09/11/2016
16:03
yep, Halifax have caught up now
thamestrader
09/11/2016
15:43
Still waiting for Selftrade
budsman
09/11/2016
15:08
Got mine too, also, topped up this morning. wllm
wllmherk
09/11/2016
14:40
And HL now.
skinny
09/11/2016
14:19
Mine now all combined in one holding at the Share Centre.
jimbox1
09/11/2016
11:31
Still have my Paid rights showing at a price of 717,with HL.
garycook
09/11/2016
11:09
Anyone had their new ordinary shares credited to their trading account yet? (today is the day, isn't it?)
thamestrader
04/11/2016
11:37
Thanks. I'm a very busy man and I appreciate your comment. I'm in now. Fingers crossed Trump loses but after Brexit nothing would be a surprise.
orinocor
04/11/2016
11:28
er this has been discussed to death already on the thread the general view seems to be that the post rights div will be lower, probably about 50p a share
rcturner2
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