Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Group LSE:PHNX London Ordinary Share KYG7091M1096 ORD EUR0.0001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +5.00p +0.64% 789.00p 788.50p 789.50p 790.00p 781.00p 785.50p 314,277 15:56:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 7,373.0 -70.0 -34.3 - 3,101.61

Phoenix Group Share Discussion Threads

Showing 2476 to 2499 of 2500 messages
Chat Pages: 100  99  98  97  96  95  94  93  92  91  90  89  Older
DateSubjectAuthorDiscuss
14/1/2018
12:34
Thanks Jonwig - all grist to the mill!
skinny
12/1/2018
12:25
Thanks, I'll take a look. Having a small punt in CVSG after the big drop. Slightly up currently; out if I make 8-10%.
stun12
12/1/2018
10:01
ISAT if you want something with a bit more excitement.
rcturner2
12/1/2018
09:08
Need 825p really as we'll be going ex-div soon enough (end of March, going by last year). Been a lovely run though. Way overweight in it with ~40% of mine and the wife's SIPP and 100% of the boy's LISA. Trouble is, I can't find anything else to buy...
stun12
12/1/2018
08:35
A nice bit of go forward here, 800p looks like a barrier on the chart. Hopefully we can break above that and it can become a support.
rcturner2
11/1/2018
10:39
Im surprised to learn of the 27% leverage
my retirement fund
11/1/2018
09:03
Many thanks for that link jonwig, interesting and instructive. I liked, very much, the apparent commitment to the dividend and, it seems to me, the 50p level is safe for the foreseeable future. Mr Bannister came across reasonably well as a safe, sensible, pair of hands. As I have a largeish(for me) holding it is always good to put a little more flesh on the bone and hear how things are progressing.
cwa1
11/1/2018
06:54
Interesting podcast with Clive Bannister: Https://www.investorschronicle.co.uk/shares/2018/01/10/boardroom-talk-phoenix/ Key things for me: - current book will support a 50.2p dividend for five yearts, then further dividends for 30 years. - acquisition policy will be prudent, but they look forward to being able to make further transactions this year. - rising gilt yields generally beneficial for life companies. - Solvency II more strict than necessary, so more capital needs to be held against their book, but that means more can be released as policies mature.
jonwig
11/1/2018
02:14
L,Agree,but good company with good management.Great yield still of 6.36% at 789p,and Full year results hopefully good on 15/03/2018.
garycook
11/1/2018
01:46
Nice to see some recent strength here. Wonder if it means anything or we will go back down again to the usual 750p range. Not had any news for a while.
lauders
06/1/2018
15:32
IMO there are probably better options for acquiring other closed funds for Aviva as Phoenix's portfolio are closer to run off. However, note my proviso.... "probably".
grahamburn
06/1/2018
15:25
Aviva could easily take out Pheniox
my retirement fund
06/1/2018
14:29
I noted that too grahamburn. It will be interesting to see what transpires now. Either they have to pay more or as mentioned already a possible merger may be an option. I don't have a crystal ball.
lauders
06/1/2018
14:17
Yes, Lauders, but as I pointed out on here (3 December) and others picked up yesterday, the fact that there is now heavyweight competition in the closed funds market in the shape of Aviva and possibly others, it will be much harder for Phoenix to pick up those funds at realistic prices.
grahamburn
06/1/2018
12:20
Point taken jonwig. However, do we really expect no more acquisitions? The company have been saying they are looking out for more so I doubt we would have to worry about the ten year point anyway.
lauders
06/1/2018
09:08
Yes, I'm using Lauders' ten year holding time. Would it always be 50p, though? Fewer policies to pay out cash flows. I'm no actuary, though it's a career I wish I'd pursued.
jonwig
06/1/2018
08:46
jonwig, you make a good point, but the response to that would be that the current assets with no acquisition will pay the 50p annually for much longer than 10 years.
rcturner2
06/1/2018
06:50
Lauders - if the company makes no further acquisitions, its cashflows and dividends will come solely from maturing policies: PHNX will be in run-off - a wasting asset. Ask yourself, "How much would I pay to receive 50p pa for the next ten years?" Depending on your discount rate the answer would be about 390p (5%) or 310p (10%). It would, of course be 500p with no discounting. You can then add any residual value or assume the dividend stream continues unchanged for more than ten years. The problem is that the net present value of PHNX shares is almost certainly below the current share price. The company will know more precise answers, and outside analysts will have a pretty good idea, but the point I'm making boils down to saying that the current share price assumes assumes more acquisitions.
jonwig
06/1/2018
02:38
An older article I missed till now: Https://www.trustnet.com/news/752950/headline-yield-can-be-misleading-warns-hendersons-smith/ In comparison, he also owns Phoenix Group, a specialist in closed life insurance company acquisitions, which is currently yielding 7.5 per cent. “They have just made a number of acquisitions including AXA Life and Abbey Life and, given their core competency of being a closed life consolidator, they have got the expertise to drive synergies and better cashflows out of those acquisitions,” Smith said. “Given that they have delivered in the past and these acquisitions were made in the last 18 months actually that sustains your cashflow payments from the business certainly out to the next 10 years. “I am reasonably secure that you will get that 7.5 per cent dividend in the medium-to-longer term and that is where I am happy to buy those higher level payers above the 6 per cent range.” 10 years or so will do me fine and that is without any other acquisitions or mergers which I don't think will be the case ;-) The yield is under 7.5% at the current offer price though.
lauders
05/1/2018
11:19
From yesterday :- Deutsche Bank Hold 775.50 875.00 800.00 Downgrades
skinny
05/1/2018
09:11
I would prefer LGEN to T/O PHNX.
garycook
05/1/2018
09:04
If it does happen, a nil-premium merger might be the choice.
jonwig
05/1/2018
08:50
jonwig,Yes can see AV,taking out PHNX.
garycook
05/1/2018
08:45
Thanks for that, speeds. Are they mixing up life and general? Two different species. Closed book market getting tighter - yes, I think so now that Aviva seems to be buying them, and has more firepower than Phoenix. Maybe consolidate the consolidators, then!
jonwig
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