Friends Share Discussion Threads

[philo124] 21/11/2014 17:43

err.........399p offer from AVIVA! see RNS after close.

[philo124] 21/11/2014 09:08

Yep, 380p looks possible.

[mike740] 21/11/2014 08:39

FLG......Copied from Twitter.......

Thanks to another tweeter yest for flagging this one up,FLG breaking out into a resistance free area. 375p then 385p share price Targets. Very little resistance.

[philo124] 20/11/2014 17:20

Good move up.

[a0148009] 20/11/2014 17:07

Agree - excellent today - price firmer even in a weaker market - all about yield.
Chart does look very promising - barring bad news for the sector or markets
targets 350p yield 6%, 367p yield 5.75% and possibly 384p yield 5.5% trading high in March 2014 and top of the W formation - circa 80 million shares still to purchase depending upon price pity company could not get the mandate through sooner when shares were much lower but timing was against them - and now there is competition from income seekers.

AO

[scottishfield] 20/11/2014 15:39

v good performanc today; chart looks like it may complete a huge 'W' - hope so.

[skinny] 18/11/2014 09:45

That's Deutsche's target and an interesting point chart wise.

[cardiffjohn36] 18/11/2014 09:38

7ml @ 23ml bought so far- Back of cig packet 310ml to go.Pru's numbers good in the uk with 100% inc in drawdown.Adding to the positivity in the sector.

[a0148009] 12/11/2014 08:32

Skinny thanks - 335 seems a cautious and understated target, 350 gives a yield of 6% which I am looking for.

AO

[skinny] 12/11/2014 06:40

Deutsche Bank Hold 326.40 326.40 330.00 335.00 Reiterates

[a0148009] 11/11/2014 13:37

Digital Look latest brokers recommendations :-

Date Broker name New Price Old price target New price target Broker change
11-Nov-14 Shore Capital Hold 326.00p - - Reiteration
11-Nov-14 RBC Capital Markets Outperform 326.00p 390.00p 390.00p Reiteration


AO

[a0148009] 11/11/2014 13:23

This may help to understand the buyback process.

Section LR 12.4 Purchase of own equity shares
Purchases of less than 15%
LR 12.4.1
01/07/2005 FCA

Unless a tender offer is made to all holders of the class, purchases by a listed company of less than 15% of any class of its equity shares (excluding treasury shares) pursuant to a general authority granted by shareholders, may only be made if the price to be paid is not more than the higher of:
(1) 5% above the average market value of the company's equity shares for the 5 business days prior to the day the purchase is made; and
(2) that stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation. [Note: This Article is reproduced at MAR 1 Ann 1] if you put MAR 1 Ann 1 into your search engine you will find pages of the stuff - the main points are
the 5% rule and the advantage of farming out the buyback to an independent institution which allows purchases during the closed period prior to company trading announcements.

AO

[lord gnome] 11/11/2014 09:05

Delighted with the numbers. I had feared much worse. Happy to hold for the income yield.

[a0148009] 11/11/2014 09:04

Conference call just started 02030598125 Password Friends Life.

AO

[a0148009] 11/11/2014 07:59

No shocks - reflects guidance of H1 Statement, retirement income outperforms market.
ALNC tinkering with announcement headline misleading.

AO

[cardiffjohn36] 11/11/2014 07:25

Much better than anticipated!

[skinny] 11/11/2014 07:02

Strong sales performance
· Corporate Benefits APE of £465 million, up 14%
· Protection APE of £70 million, up 11%
· Retirement Income outperforms the market with sales volumes down 12%, exceeding expectations and reflecting strong customer engagement
· Improving operating backdrop in FPI, with third quarter APE of £32 million up more than a third on the run-rate of the first two quarters of 2014
· Corporate Benefits positive net fund flows of £0.6 billion driving assets under administration to £21.4 billion
· Group VNB of £94 million is down £29 million, of which £24 million is the reduction in Retirement Income VNB
· Group APE of £690 million (30 September 2013: £670 million)
· Group PVNBP1 margin 2.4% (30 September 2013: 3.1%)
Strong capital position maintained
· IGCA2 of £2.2 billion, representing a coverage ratio of 233% (30 June 2014: 235%)
· Group available shareholder assets ("ASA") of £911 million
Operational highlights
· Disposal of Lombard completed and £317 million share buyback commenced
· Completion of the £760 million reallocation of annuities from with-profits funds, which will generate £7 million of sustainable free surplus ("SFS") p.a. from 2015
· Agreement to reallocate a further circa £650 million of annuities from with-profits funds, subject to regulatory non-objection, resulting in a SFS benefit of circa £5 million p.a. from 2015
· Good progress made towards preparing the launch of new retirement propositions in April 2015
· International IT platform project delivery is on track with the majority of new policies now being written on the new platform
· Application of enhanced investment strategy progressing well with further funds invested in syndicated loans and private placements

[philo124] 07/11/2014 08:47

Good move imo.

[nigelmoat] 07/11/2014 08:40

Decided to take profits and sell out this morning as think Interims next week will present a mixed bag including a few negatives. Like this Company and dividend but just think might be an opportunity to buy back much cheaper after Interims. All imo/dyor.

[cardiffjohn36] 07/11/2014 08:13

3.5 ml shares so 11ml spent 306ml to go nice steady rise so far.Shame about those interims getting in the way next week .

[skinny] 04/11/2014 15:25

Third Quarter 2014 Interim Management Statement 11th November.

[cardiffjohn36] 31/10/2014 19:25

Sorry 1.66

[cardiffjohn36] 31/10/2014 19:23

Interesting friends bought 150,000. However 1,500,000 went through Late- hopefully our leader has been topping up again31 October 2014Friends Life Group Limited("Friends Life" or the "Company")Transaction in own sharesFriends Life announces that on 31 October 2014 it purchased for cancellation the following number of its ordinary shares of nil par value through Royal Bank of Canada Europe Limited.Such purchase was effected pursuant to irrevocable instructions issued by the Company and announced on 6 August 2014. Date of Purchase 31 October 2014 -------------------------------------- ---------------- Number of ordinary shares purchased 150,000 -------------------------------------- ---------------- Highest price paid per share (pence) 320.50 -------------------------------------- ---------------- Lowest price paid per share (pence) 315.70 -------------------------------------- ----------------

[a0148009] 31/10/2014 12:41

Digital Look - brokers latest recommendations :-

Date Broker name New Price Old price target New price target Broker change
29-Oct-14 JP Morgan Cazenove Neutral 305.80p 358.00p 358.00p Reiteration
29-Oct-14 RBC Capital Markets Outperform 305.80p - 390.00p Reiteration
23-Oct-14 Canaccord Genuity Buy 300.70p 340.00p 340.00p Reiteration
15-Oct-14 Canaccord Genuity Buy 294.60p 340.00p 340.00p Reiteration.

PS am done for the day.

AO