Phoenix Share Discussion Threads

[aleman] 24/11/2020 09:31

High yield index is up over 20% since the end of October. PHNX has marginally underperformed this month - though it outperformed through the summer.

[bluemango] 24/11/2020 09:23

Plus a more realistic reflection of the enviable yield, now around 6%.

[skinny] 24/11/2020 09:21

Perhaps some of that 'move' is a culmination of the recent vaccine news and many calibre shares returning to their pre-covid levels?

[fenners66] 24/11/2020 09:17

"Babbler
24 Nov '20 - 07:38 - 4144 of 4147

Just the European business... Not the whole thing."

You think you needed to add that ?
Having read the above to get to €650m its obvious that its the European business!

The question is , since the share price had made a sizeable move , has Bloomberg got the wrong value, after all its just a small part of the business and compared to the market cap does not warrant such a move as we have had....

[bluemango] 24/11/2020 09:01

Guess so. Personally I'd prefer it was all left intact, assuming the European business isn't actually a drag on earnings?

[jonwig] 24/11/2020 08:50

"Buy the rumour, sell the fact."

[bluemango] 24/11/2020 08:08

Why tinker with a good thing. Market seems decidedly luke-warm towards the idea.

[babbler] 24/11/2020 07:38

Just the European business... Not the whole thing.

[fenners66] 24/11/2020 07:23

€650m does not sound like a game changer against that market cap, so is it worth more?

[williamcooper104] 24/11/2020 07:11

Sounds like - we will sell it at the right price

[jonwig] 24/11/2020 07:09

Bloomberg it was:

(Bloomberg) -- Phoenix Group Holdings Plc, Europe’s biggest life-insurance consolidator, is considering selling international operations to focus on the U.K., people with knowledge of the matter said. The company is working with an adviser to gauge interest in its business in markets including Ireland and Germany, according to the people. The potential sale could fetch as much as 650 million eu

Shares of Phoenix jumped as much as 5.6% in Monday afternoon trading, hitting an intraday record. They were up 1% at 3:33 p.m. in London, giving the company a market value of about 7.9 billion pounds ($10.5 billion) and putting it on track for the highest close in nine months. Phoenix, which buys portfolios of old policies from legacy insurers, managed about 324 billion pounds of assets at the end of June, according to its website. Last year, it acquired Swiss Re AG’s ReAssure Group Plc unit for 3.25 billion pounds, one of the year’s largest insurance deals globally. No final decisions have been made, and there’s no certainty Phoenix’s deliberations will lead to a transaction, the people said. A representative for London-based Phoenix declined to comment. In Europe, Phoenix compets with other consolidators including Germany’s Frankfurter Leben Holding GmbH, Cinven-owned Viridium Group GmbH and Apollo Global Management Inc.’s Athora Holding Ltd.

So cash for another UK acquisition?

[skinny] 24/11/2020 07:02

Hmmmm - .

Phoenix Group Holdings Plc ("Phoenix") notes the recent press speculation regarding the potential sale of its European businesses ("Phoenix Europe").

Phoenix Europe is an established participant in the European life insurance market, with operations across Ireland, Germany and the UK offshore savings market, and offers strategic optionality to develop Phoenix's proven M&A consolidation and growth strategy internationally.

In light of recent expressions of interest from third parties for the European business, Phoenix confirms that it is assessing a range of strategic options to maximise value for shareholders.

At this point there can be no certainty that a transaction will be achieved. A further announcement will be made in due course if appropriate.

[my retirement fund] 23/11/2020 15:44

Tested that £8.00 ceiling and got botted down by the order book fairly fast

[boonkoh] 20/11/2020 20:12

Does Phnx have alot of final salary pension schemes that it's bought from companies?Is it liable for this new ruling of equalisation of female/male payments stretching back to 1990?https://on.ft.com/3pOssGn

[fenners66] 19/11/2020 11:35

I meant the jump from 770 to over 800 in one go early doors.
The volume was small so just wondering if that was some private investors getting their legs lifted.

[skinny] 19/11/2020 09:20

Before that trade (53), the spread had been as high as 806.6 813.2.

[fenners66] 19/11/2020 09:00

Was that someone just taking the p*ss with the spread?

[skinny] 19/11/2020 08:41

A brief look over £8 earlier (808.80).

[panshanger1] 19/11/2020 08:07

Wants to go higher and pre COVID high ( ATH) not far away now

[masurenguy] 18/11/2020 07:42

Wife of the CEO purchased 41,922 of shares @£7.12 (circa £292,000).

[skinny] 16/11/2020 15:36

All looking very positive here - especially on today's vaccine news.

[williamcooper104] 16/11/2020 15:28

Cheers - missed that - not small amounts

[bluemango] 16/11/2020 15:19

CEO Andy Briggs buying £119k worth made it onto the advfn News list, but did anyone spot his wife's purchase of over twice that amount a week later on 6th Nov? Just shy of £300k worth.

[masurenguy] 16/11/2020 15:06

Up 15% so far this month ! :o)