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PHNX Phoenix Group Holdings Plc

549.00
6.80 (1.25%)
Last Updated: 15:44:52
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Group Holdings Plc LSE:PHNX London Ordinary Share GB00BGXQNP29 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.80 1.25% 549.00 548.80 549.20 551.20 541.20 544.20 1,969,890 15:44:52
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Life Insurance -34.59B -1.83B -1.8270 -3.01 5.5B
Phoenix Group Holdings Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker PHNX. The last closing price for Phoenix was 542.20p. Over the last year, Phoenix shares have traded in a share price range of 436.40p to 600.60p.

Phoenix currently has 1,001,100,000 shares in issue. The market capitalisation of Phoenix is £5.50 billion. Phoenix has a price to earnings ratio (PE ratio) of -3.01.

Phoenix Share Discussion Threads

Showing 4176 to 4199 of 10100 messages
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DateSubjectAuthorDiscuss
03/12/2020
07:49
Excellent.
robsy2
03/12/2020
07:45
Yes pretty good - "strong" and "exceeding" are mentioned several times!





Capital Markets Day, strong trading update exceeding 2020 cash generation target, and setting net-zero carbon targets

Phoenix Group ("Phoenix"), the UK's largest long-term savings and retirement business, is today hosting a Capital Markets Day for investors and analysts, which will include presentations by Phoenix's management team.

The purpose of the event is to provide greater insight into Phoenix's strategy and financial framework. The presentations will also include a series of deep dives into how its businesses are being managed to deliver sustainable cash, resilience and growth for investors.

Alongside this, Phoenix today announces a strong trading update with 2020 cash generation ahead of target.

Commenting on the results, Group CEO, Andy Briggs said:

"Phoenix has continued to perform strongly with full year cash generation of GBP1.7 billion now complete, exceeding the top end of our target range. Our balance sheet remains resilient, underpinned by our high-quality portfolio of assets and unique approach to risk management, and our shareholder capital coverage ratio of 159% remains robust.

As we execute successfully against our strategy, I am confident that we will continue to deliver cash, resilience and growth, and therefore sustainable cash generation for investors.

We also recognise that Phoenix has an important role to play in society and today we are announcing our commitment for our operations to become net-zero carbon by 2025 and for our investment portfolio to do so by 2050. Sustainability is at the core of our purpose and reducing our environmental impact will be integral to delivering long-term value for all of our stakeholders."

Financial Highlights - Phoenix continues to deliver cash, resilience and growth

Strong cash generation

-- GBP1,713 million of cash generation(1) in 2020 (2019: GBP707 million) exceeding the upper end of the 2020 cash generation target range of GBP1.5 billion - GBP1.6 billion.

Resilient Solvency II balance sheet with increased surplus

-- Solvency II surplus increased by GBP0.6 billion to GBP5.0 billion(2) as at 30 September 2020 from GBP4.4 billion(3) at 30 June 2020 on a pro-forma basis, driven in part by the successful delivery of management actions.

-- Shareholder Capital Coverage Ratio(4) of 159% as at 30 September 2020 (150% as at 30 June 2020 on a pro-forma basis), at the midpoint of the Group's target range of 140% - 180%.

Robust, high-quality credit portfolio

-- 98% of GBP35 billion shareholder debt portfolio is investment grade; 21% is rated as BBB with only 2% of the portfolio rated as BBB- as at 30 September 2020.

-- Limited downgrade experience to date with only GBP1.6 billion (4.5%) of bonds in the GBP35 billion shareholder debt portfolio subject to a downgrade which changed the letter rating, and GBP148 million of bonds (0.4%) being downgraded to sub-investment grade.

-- 99.3% of all contractual cashflows paid on the GBP9.3 billion illiquid asset portfolio.
Growth through Open business

-- GBP472 million incremental long-term cash generation from new business in the 9 months ended 30 September 2020 (FY 2019: GBP483 million(5) ) including:

- GBP300 million from BPA (FY 2019: GBP235 million);

- GBP94 million from Workplace (FY 2019: GBP155 million); and

- GBP42 million from Customer Savings and Investments (includes Wrap and Retail business) (FY 2019: GBP59 million).

Further financial disclosures are provided in the appendix to this announcement and all financial results are available in the financial supplement which can be accessed through the following link:

www.thephoenixgroup.com/investor-relations/capital-markets-day-2020

Phoenix has committed to becoming net-zero carbon by 2050

Phoenix recognises its responsibility in driving forward its commitment to sustainability, and in particular the importance of reducing greenhouse gas ("GHG") emissions and accelerating the transition to a low carbon economy. As such, today we are setting net-zero carbon targets in two phases:

-- Phase 1: Operations: we are committing to ensuring the Scope 1 and 2 emissions of our occupied premises and the Scope 3 emissions from business travel are net-zero carbon by 2025.

-- Phase 2: Investment portfolio: setting a net-zero by 2050 target for our investment portfolio.

We will take into account the best available scientific knowledge in this process. Therefore, in relation to our operations, we will set and pursue a 1.5degC aligned science-based emissions reduction target, with any remaining hard-to-decarbonise emissions compensated using certified GHG removal projects.

In relation to our investment portfolios, where we have the ability to influence the investment strategy or investment solution, we will aim to reduce the emission intensity to net-zero GHG emissions by 2050. This is also consistent with the objective of limiting the temperature rise to no more than 1.5degC above pre-industrial temperatures and is in line with the Paris Agreement and the commitment of the UK Government.

We will do this by:

-- Increasing our investment in assets that support the transition to a low carbon economy; and
-- Using our position as a significant asset owner to engage with investee companies and promote alignment to the Paris Agreement. We will reduce or ultimately eliminate our exposure from companies that show little progress following sustained engagement.

Presentation

We will be hosting our live virtual Capital Markets Day for analysts and investors today at 2.00 pm (GMT).

A link to the live webcast of the presentation, with the facility to raise questions, and a copy of the

presentation will be available at www.thephoenixgroup.com
You can register for the live webcast at the link below:



A video replay of the presentation will be available through the Phoenix Group website post-event.

skinny
03/12/2020
07:43
Good news this morning' everything ahead of expectations.
this_is_me
02/12/2020
01:05
Let's see how this product works out over the years to come. Seems sensible to offer something like this owing to ESG being such an important/necessary component of some investors and companies requirements these days.
lauders
01/12/2020
16:43
Looking more like it end of play, normality prevailing.
my retirement fund
01/12/2020
12:51
Also think yesterday's action was down to some profit taking as no rns....if it does go below £7 i will add a few more.
spcecks
01/12/2020
12:03
Dead cat bounce today. Looking to get back in sub £7.00.
schofip
01/12/2020
09:59
Added a few as I think yesterday's action was just technical or profit taking. I know, famous last words!
geko5trade
01/12/2020
09:54
Hi Typo56,

Could you educate me please. What do you mean by "MSCI index promotion" and why would it impact Phoenix?

Cheers,
PJ

pj fozzie
30/11/2020
22:04
Phnx Capital Markets Day this Thursday.In the absence of an adverse rns in the meantime, I will therefore be closing my eyes to the price until I have had the opportunity to study this presentation. LGENs update was good a couple of weeks ago, so unless there has been a fubar mistake of epic proportions by phnx, all should be ok re bond defaults and the rest of it. We will see....GLA.
ben12358
30/11/2020
21:50
A bit heavy, you're not kidding.
pander45
30/11/2020
21:48
The uncrossing was 'a bit heavy' due to the MSCI index promotion which took effect at close today. Same with loads of stocks, including FRES.
typo56
30/11/2020
18:42
The other insurance stocks I hold are Lgen Aviva and Sla.
spcecks
30/11/2020
18:32
Which others do you hold?
growthpotential
30/11/2020
18:12
pj fozzie I'm also heavily weighted here but not worried....will add more if share price falls further as here for the dividend.
spcecks
30/11/2020
17:27
And as I said, there were another @2million at the same price after the auction - hohum!
skinny
30/11/2020
17:17
Funny things happen - like CSN being quite steady today!

Certainly odd activity, and the 16:35 UT of 27m was a bit heavy.

jonwig
30/11/2020
17:01
It WAS an uncrossing trade-and yes anybody from CWA1 to Aviva COULD have been involved...
cwa1
30/11/2020
16:59
If it was an uncrossing trade then either Aviva or Vanguard could also have been involved.
masurenguy
30/11/2020
16:57
The 26.7M trade was not a "sell". It was the normal daily uncrossing trade in which buyers and sellers were matched(albeit large in scale!). I for one was on the "buy" side for better or worse...
cwa1
30/11/2020
16:55
Re: #4179: That volume was only due to one institution making a disposal. it must have been either Standard Life Investments, Artemis or Threadneedle Asset Management since they are the only investors who were holding more than 25m shares yesterday.
masurenguy
30/11/2020
16:55
Ouch! And that's the problem with having a portfolio heavily weighted towards one share. 10K down on PHNX today - whole portfolio is 14K down.

Oh well, not gonna panic. Still confident that the div is safe.

Cheers,
PJ

pj fozzie
30/11/2020
16:52
And probably another couple of million @716.80 after the auction....
skinny
30/11/2020
16:51
Somethings leaked.The volume is the highest for a year.
steeplejack
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