Phoenix Share Discussion Threads

[scburbs] 01/9/2014 10:20

Aleman,

They will be looking at the position prior to disposal of Ignis so any NAV numbers will be materially understated.

The NAV number quoted is the IFRS NAV rather than the MCEV NAV. IFRS is generally not considered to be a good way of measuring the value of insurers. The IFRS balance sheet has £2.885bn of shareholders equity, but £825m to non-controlling interests (this is the perpetual reset securities and the UK commercial property trust), leaving £2.060bn for equity attributable to shareholders or 916p/share.

The proforma MCEV NAV post ignis sale is £11.57/share.

[aleman] 01/9/2014 09:39

How do they get NAV at only 916p? Shareholders' equity is £2.885bn on the interim results' balance sheet. Today's RNS shows 224.95m shares so NAV is 1282.5p.

[rcturner2] 01/9/2014 09:26

"Regulatory threats to Phoenix look minimal, and impressive cash generation is supporting an attractive dividend yield. Acquisition-led growth prospects look good, too. With the shares trading well below forecast embedded value, we reiterate our buy tip."

NAV: 916p
Embedded value: 1035p

[scburbs] 01/9/2014 09:22

Link is FT, but it is summary of IC.

"Buy: Phoenix Group (PHNX)
Regulatory threats to Phoenix look minimal, and impressive cash generation is supporting an attractive dividend yield, writes John Adams"

[rcturner2] 01/9/2014 07:50

IC write up very positive. I will post their article summary later when I get a chance.

[hvs] 01/9/2014 07:07

Aklso mentioned in F.T MOney Page 10 as a BUY.

[trader_clive] 31/8/2014 23:05

Down as a buy in the I.C. last Friday,
fundamentals look good.

[scburbs] 26/8/2014 16:18

Phoenix is second on -'s list of cheapest value stocks as
reported in the Telegraph.

"One strong theme is the proliferation of insurance companies
– Amlin and Catlin – and life insurers – Phoenix,
Legal & General and Friends Life."

http://www.telegraph.co.uk/finance/personalfinance/investing/shares/11049523/Share-tips-The-10-cheapest-value-stocks-on-the-FTSE-All-Share.html

[garycook] 26/8/2014 13:33

Ex Div 03/09/2014 26.70p Ok

[rcturner2] 26/8/2014 13:32

21 Aug 2014 Interim GBX 26.70 03/09/2014 05/09/2014 02/10/2014

ex date
record date
payment date

[stevenrevell] 26/8/2014 13:24

What date is divi date

[chinese investor] 26/8/2014 12:28

Impressive !

[devoncop] 26/8/2014 09:59

All heading in the right direction as far as newsflow

[skinny] 26/8/2014 08:53

Barclays Capital upgrades to Equal weight form Under weight.

[devoncop] 24/8/2014 09:18

Ok guys

We are approaching a fairly important short term resistance level around 7.50 now. I would see a pullback as we go ex div but my question is as the buyers return (as I am sure they will) following this,do people agree this is potentially another NG. or PFG type story of long term steady stable growth over many years?

I think there will be a boost short term following the good results and what I expect to be a benign annuity review later in the year so see new highs going forward.

GLA and DYOR

[philo124] 22/8/2014 08:29

800p Canaccord reiteration.

[chinese investor] 22/8/2014 08:26

Good Start !

[philo124] 22/8/2014 08:12

Very good.

[skinny] 22/8/2014 07:53

Deutsche Bank Hold 735.50 735.50 735.00 740.00 Reiterates

[devoncop] 21/8/2014 17:02

Very happy with this and suspect a re rating is overdue.

The catalyst for a big bounce I believe is the credit rating move which will have a bigger impact I would suggest than any modest purchases the co may make.

[chinese investor] 21/8/2014 16:33

Supreme Money Maker !

[skinny] 21/8/2014 15:25

Perhaps I should have bought more, but more than happy!

[chinese investor] 21/8/2014 15:16

Back On Track !

[scburbs] 21/8/2014 15:12

PHNX is well on the way to transitioning into a really boring low risk cash machine.

Could get exciting for shareholders if the market realises that and re-rates it accordingly and if not we can all carry on collecting the substantial dividends.