Phoenix Share Discussion Threads

[rcturner2] 04/11/2014 11:55

Phil, I'm quite surprised, where are you putting your money instead?

Yield at this level is still 7%, so only need 3% capital growth to get a 10% annual return, which seems very achievable. The refinancing that has occurred and is ongoing is lowering costs and freeing capital for further expansion.

[philo124] 04/11/2014 08:28

Sold fwiw. GLA to those that hang on for £8/£9.

[envirovision] 24/10/2014 09:50

Needs to breach £8 first lol

[envirovision] 24/10/2014 09:49

9 quid even better

[speedsgh] 24/10/2014 09:27

All in good time :o)

[skinny] 24/10/2014 07:10

JP Morgan Cazenove Overweight 734.50 734.50 915.00 915.00 Reiterates

[philo124] 23/10/2014 20:14

Needs to breach 750p first.

[envirovision] 23/10/2014 20:07

8 quid, nice !

[skinny] 23/10/2014 16:33

Canaccord Genuity Buy 735.50 800.00 800.00 Reiterates

[rcturner2] 23/10/2014 08:11

Thanks jonwig much appreciated.

[jonwig] 23/10/2014 07:31

Yes, they have a knack of managing expectations very well. I was actually expecting a bit of M&A, but doubtless they will spring a surprise on us soon enough!

What chance they'll issue a replacement RNS later today (for the Q3 IMS)?

RCT - got your message re the PRES thread, thanks, which I'll look at later.

[skinny] 23/10/2014 07:04

Phoenix Group Holdings announces that it expects 2014 cash generation to be towards the top end of its target range of £500 - £550 million


Highlights

· £438 million of cash generation1 in the 9 months to 30 September 2014 (HY14: £332 million), excluding the proceeds of the divestment of Ignis Asset Management ("Ignis"). Full year cash generation expected to be towards the top end of the target range of £500 - £550 million (excluding Ignis divestment proceeds).

· In addition, £390 million has been received from the divestment of Ignis completed on 1 July 2014, resulting in total cash receipts in the 9 months to 30 September 2014 of £828 million (HY14 pro forma2: £722 million).

· Total Holding Company cash3 of £957 million at 30 September 2014 (HY14 pro forma2: £990 million).

· Estimated IGD4 surplus and headroom both remained stable at £1.1 billion and £0.4 billion respectively at 30 September 2014 (HY14 pro forma2: £1.1 billion and £0.4 billion).

· Estimated PLHL ICA4 surplus and headroom both remained stable at £0.7 billion and £0.6 billion respectively at 30 September 2014 (HY14 pro forma2: £0.7 billion and £0.6 billion).

· Estimated Phoenix Life free surplus, which represents excess capital over the life companies' minimum requirements and the capital policies, was £297 million at 30 September 2014 (HY14: £379 million).

[jonwig] 22/10/2014 15:04

No, I don't think so -

David Barnes joined the RBS Group (then Williams & Glyn’s Bank) in 1973 and remained there in various roles until his early retirement in February 2009. His roles included Relationship Banker in the then newly established Corporate Division, Managing Director of the Financial Institutions Relationship Management team and member and subsequently Chairman of RBS’s Credit Committee. From 2005 he was responsible for all lending to financial institutions and for capital management for RBS’s Financial Institutions Group.
Mr Barnes was appointed to the Board of Directors of the Company on 2 September 2009. He is a member of the Board Audit and Board Remuneration Committees.

He held 2,747 shares according to the last AR - less than me! Had his stake been significantly higher, I might have worried!

[joan of arc] 22/10/2014 14:46

Seen the latest RNS. "No loss of office payments have been or will be paid to Mr Barnes". That seems an odd comment to make. Has something been going on?

[speedsgh] 21/10/2014 15:15

Q3 IMS due on Thurs -

[aleman] 18/10/2014 11:29

A good explanation of OPPORTUNITY COST and the reason why trading on margin can work badly against you. I often forget about such things. Opportunity cost is interesting because it shows how a share price is not solely set by its own fundamentals but can be affected by shares that are completely unconnected economically. There are probably another hald dozen reasons for what seems like illogical selling. Another I can think of might be index selling. You often get a lot of index selling in times of crisis to get a short position in the market quickly. Institutions selling the shorts might then hedge their risk/arbitrage a profit by selling the underlying stocks in the index, particularly those that have not fallen as much as the rest.

Cheers, Gary.

[gary1966] 18/10/2014 06:39

Aleman post 1326

Sellers not necessarily looking to replace income. I bought my stake in PHNX back in June having taken substantial profits from LGO. I reversed that trade on Thursday as I felt the fall in LGO was excessive. I will reverse that trade again at some point in the future, with I hope another substantial profit from LGO. First 24hrs of that trade went exceptionally well and I hope there is more to come next week. As a bonus PHNX has fallen from where I sold on Thursday but if I have to pay more to get back in then so be it, as long as I have made more on LGO in the meantime.

Sadly we mustn't forget that sometimes safe shares get sold to cover margin calls on riskier areas of people's portfolios. Some people will have been hit very hard over the last couple of weeks.

ATB

Gary

[topvest] 17/10/2014 19:19

Yes, this has held up well through the correction. Quality company for your portfolio.

[lej2] 16/10/2014 13:45

Not worried re fall - if we go below £6.80 I will be adding with the proceeds of some of my own distress sales

[rcturner2] 16/10/2014 12:54

I think they are just moving to cash to either buy lower or protect capital.

[aleman] 16/10/2014 12:49

How do sellers think they are going to replace the income? Where else are they going to get a 7.6% yield from?

[badtime] 16/10/2014 10:43

Lol..what was i saying about holding up...testing 700 now

[rcturner2] 16/10/2014 09:52

Indeed Aleman, good analysis.

After 2008 it was an absolute steal the yields that some companies were on, all you had to do was buy quality in the FTSE 350 and most rose by at least 50% all the while paying massive dividends.