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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
  1.00 0.15% 650.00 649.40 649.80 656.00 649.40 654.40 8,633,435 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 4,704.0 1,270.0 91.8 7.1 6,495

Phoenix Share Discussion Threads

Showing 4351 to 4375 of 4900 messages
Chat Pages: Latest  184  183  182  181  180  179  178  177  176  175  174  173  Older
DateSubjectAuthorDiscuss
08/3/2021
07:55
"Recommended final dividend of 24.1p reflects a 3% increase on the 2020 interim dividend (23.4p) and equates to a 2020 full year dividend of 47.5p (2019: 46.8p)." 😃
masurenguy
08/3/2021
07:30
Cash generation some 6% above top expectations and a current yield of 6.5% at 727p.This warrants being regarded as a core holding in a balanced portfolio.
steeplejack
08/3/2021
07:23
After a brief look seems a solid set of results and nice to see an increase in dividend
panshanger1
08/3/2021
07:19
Annual results: https://www.londonstockexchange.com/news-article/PHNX/2020-annual-financial-results/14890483
jonwig
02/3/2021
23:52
Agreed so there will be a market for both products not one or the other
growthpotential
02/3/2021
09:53
Just three more full working days until Results on the 8th and hopefully news of a dividend increase.
bluemango
02/3/2021
06:32
Post 4370 :-)
skinny
02/3/2021
03:22
Phoenix Group (“Phoenix”), the UK’s largest long-term savings and retirement business announces the appointment of Tom Sumpster as Head of Private Debt Direct Origination. Tom will work closely with Chief Investment Officer Mike Eakins, and will design and implement Phoenix’s direct origination strategy for private debt as well as lead and co-ordinate Phoenix Group’s direct origination through banks, sponsors, advisors and intermediaries. + Tom has over twenty years of experience including at Santander Group where he worked in debt capital markets, Royal Bank of Canada, where he spent 9 years as Head of Acquisition Finance, Global Investment Banking and most recently at Legal & General Investment Management as Head of Infrastructure, Real Assets. Https://www.thephoenixgroup.com/~/media/Files/P/Phoenix-Group-v3/Press%20releases/2021/Phoenix%20Group%20hires%20Tom%20Sumpster%20as%20Head%20of%20Private%20Debt%20Direct%20Origination.pdf
lauders
01/3/2021
22:59
Sound mind (?!) or Unsound mind
fenners66
01/3/2021
20:07
Some people are still, acting of sound mind, buying annuities
williamcooper104
01/3/2021
19:55
Not the ones who are scared of the responsibility of managing their own pension investments. I've met so many people who say 'Oh, I'd never do that. I wouldn't know how to. I'd rather someone with expertise did it'.
bluemango
01/3/2021
09:19
The key would seem to be growing the Open/New Business side of the business to gradually dominate the run-off side, with many years (10 plus?) in which to gradually do it, yes? In the meantime while offering a superb yield.
bluemango
01/3/2021
09:09
They will - but there's about £1tn of pension liabilities on companies balance sheets. The main blocker to these moving is the cost of paying an insurance company to take them because of ultra low interest rates. So a general reflation/increase in long term rates ought to see more growth The value of an annuity book is measured as at a discount rate, so crudely any distribution above that yield is a return of capital and anything below it represents a normal return of profit
williamcooper104
01/3/2021
08:56
The annuities acquisitions would surely dry up over time. Since pensions were changed so that we do not have to buy an annuity there will have been a massive decline in people doing so. Therefore in say another 15 years will there be much annuity business left to actually buy? In the meantime with declining volumes you could see why annuity providers would see decline in scale and be more prepared to offload what they still have.
fenners66
28/2/2021
20:54
And from last year's annual results: "With circa GBP0.5 billion of incremental cash generation delivered from new business written in the year, we have demonstrated that our Open businesses and BPA bring sustainability to Phoenix, offsetting the run-off of our in-force business"
bluemango
28/2/2021
20:49
From the Company's website re their Open Business: Our Open business comprises products that are actively marketed to new and existing customers and has five separate business units. Our Workplace pensions and Customer Savings & Investments (“CS&IR21;) units operate under the Standard Life brand and manufacture long-term savings and retirement products to support people saving for their future. The Retirement Solutions unit within Open includes both vesting annuities and our Bulk Purchase Annuity (“BPA”) business, where we acquire annuities and deliver the financial stability required to secure pensions currently provided by corporates. Lastly, the Open business comprises our market leading brand – “SunLife”; – which sells a range of financial products specifically for the over 50s market and our European business unit which spans Ireland, Germany and the International Bond segment in the UK and operates under the Standard Life brand.
bluemango
28/2/2021
20:44
Thanks, appreciate the explanation. Makes sense. So yes, the closed books are in run-off, but every so often the business gets renewal boosts, by new acquisitions.
bluemango
28/2/2021
20:39
bluem - you can compare it with infrastructure trusts such as HICL. Each of its PFI investments has a finite life (20 - 40 years typically), so would generate income plus a final capital payment. So the way it renews itself is by raising capital to buy new investments so lengthening its lifespan. Similarly, when P buys a closed book of pensions or policies, that investment has a finite life, so it must make further purchases to continue the process. Fortunately there are plently of sellers, as they don't want the drag on resources. When P wants to buy a closed book it raises new share capital as with the rights issue to buy SLA's books. Actually P also has some open business, I believe, but I don't know the details. There is another thing: UK insurers are lobbying to overthrow Solvency II owing to its complexity and the way it calculates capital adequacy. If that happens, profitability would get a boost.
jonwig
28/2/2021
19:43
A question for the bb. Sometimes when Phoenix is mentioned in comparison with other income stocks, people comment 'it's a business in run-off' with the implication that it's not sustainable long term. So, to what extent is this company actually future-proofing? What sort of timescale can we expect this sort of income from PHNX? 20 years? That would be fine for me, but I can just about see how this limitation, if true, might put others off.
bluemango
28/2/2021
19:02
According to Richard Hunter, head of markets at interactive investor: “Intense competition and pressure on life and pensions providers to reduce costs has allowed Phoenix to grow via acquisitions and then strip costs. Pearl Assurance and Abbey Life are now both part of Phoenix.” With a 6.6% yield and dividend cover of 1.9 times. Hunter says the business model is proving a canny one.
masurenguy
28/2/2021
05:37
Only just over a week to go before results: Https://www.thephoenixgroup.com/investor-relations/financial-calendar/forthcoming-events.aspx Look forward to seeing what results show. "Steady as she goes" is fine by me with this income holding.
lauders
25/2/2021
13:05
bluemango thanks for the information.
spcecks
25/2/2021
11:59
Phoenix have helpfully clarified the situation. Firstly they have now corrected their website to reflect the disposal of indirectly held shares on 24th Dec. The current combined SLA holding is 16.86%, same as announced on 24th Dec. The 14.42% held directly is their strategic stake held directly at Group level. They have not disposed of any of these. In addition they hold 2.44% held independently from this, through Aberdeen Standard Investments (ASI) on behalf of their clients. It is from this indirect, client holding, that they made a disposal back in December. So zangdook is correct in his post #4355; they disposed of some shares from this indirect holding in December.
bluemango
25/2/2021
08:43
27 July, after new shares were issued for ReAssure, SL held 144,114,450 directly and 34,686,092 indirectly, for 17.9%. https://www.investegate.co.uk/phoenix-group-hldgs--phnx-/rns/holding-s--in-company/202007271600012115U/ 24 December SL held 144,114,450 directly and 24,345,899 indirectly, for 16.86% https://www.investegate.co.uk/phoenix-group-hldgs--phnx-/rns/holding-s--in-company/202012240700037531J/ So they disposed of just over 10m indirectly held shares - perhaps Claire H means they didn't sell any actual shares, just some derivative. Not counting the indirect holding would fit in with the "approx 14%" statement.
zangdook
24/2/2021
17:32
I shall email Claire myself and try to clear up the confusion. It's not so much that SLA may have been selling, clearly that's up to them - it's simply a matter of confidence in management to be clear and transparent, and consistent with all the info in the public domain.
bluemango
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