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
  +7.50p +1.02% 740.50p 740.00p 741.00p 742.00p 729.00p 733.00p 870,277 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 7,373.0 -70.0 -34.3 - 2,910.96

Phoenix Group Share Discussion Threads

Showing 2401 to 2425 of 2425 messages
Chat Pages: 97  96  95  94  93  92  91  90  89  88  87  86  Older
DateSubjectAuthorDiscuss
08/9/2017
13:53
The FCA now appears run in a way that would make diehard socialists blush!. As a Lloyd's shareholder I may be a tad biased in that view ).
essentialinvestor
08/9/2017
12:41
Sorry speeds, I disagree. PHNX probably has the financial flexibility to manage, say a £500m acquisition without recourse to other sources of funding. The problem is that as the shareprice declines then this makes acquisitions more expensive through the dilutive effect (discount to MCEV) which in turn means PHNX are priced out of the market by competitors. I think that until the shareprice recovers then any acquisitions will be small, at best.
hyden
08/9/2017
12:22
Huden - "without further acquisitions...". I think PHNX have made it fairly obvious that further acquisitions are pretty much nailed on. Main question is how large & when? Aimho
speedsgh
08/9/2017
12:13
Perhaps 'prosper'is a better word jonwig, and I agree they simply could deliver MCEV. This is why I remain invested at the present time but the longer term challenge, without further acquisitions, is how to manage the high and relatively fixed costs of WP funds in run off. As the book declines and cash flows reduce then the dividend might not be sustainable as the fixed costs will eat into it. Admittedly this is many years away, but still within my investment horizon and so it remains a worry for me.
hyden
08/9/2017
12:05
I'm beginning to think that PHNX has just got indiscriminately caught up in some sector-wide sell-off for no real reason. Big bounce coming?
woodhawk
08/9/2017
11:47
Hyden - well, "survive" is a bit strong! PHNX could simply go into run-off and deliver the MCEV (which they don't seem to use any more) over a period. It wouldn't be much fun for investors, and they'd probably need to de-gear gradually.
jonwig
08/9/2017
11:28
But don't forget PHNX have secured an indemnity from DB for the FCA investigation so I don't think it's that. I think it may perhaps be down to the fact that PHNX needs to acquire in order to survive.
hyden
08/9/2017
08:37
Presumably the drop is due to the investigation by the FCA into annuities etc in a few companies including Abbey Life (from before the time Phoenix took the book on). Even though there is no new information about it, the FCA did mention the investigation was ongoing... But this issue was fully covered in the interim results under the heading REGULATORY AND LEGISLATIVE CHANGES. No special reason why people should be getting worried about the issue right now, other than they have been reminded of it.
edmundshaw
08/9/2017
07:48
Phoenix is not involved in disaster insurance, so will have no effect on the business here.
rcturner2
08/9/2017
07:29
Don't really see a specific problem here - the sector as a whole is being hammered - probably a good buying opportunity - so I'm increasing my holding. Divi around 7% at this price, good interims and broker upgrades.
woodhawk
08/9/2017
02:19
I assume the weakness here is not just because we went ex-dividend (started before the ex-div date) but because of the concerns to the insurance sector as a whole in light of all the claims that are likely to come from weather conditions around the world?
lauders
07/9/2017
11:09
Many thanks Stun
solarno lopez
07/9/2017
11:03
Thanks, solarno. I did use AJ Bell as we have our SIPPs with them and they have always been efficient. There isn't too much choice for LISAs as the high street banks don't seem to be interested. Of course, SIPP providers are already familiar with claiming money from HMRC in tax relief, so they will be the obvious go-to for LISAs.
stun12
07/9/2017
10:44
Stun may I ask who you use for the LISA as I have been contemplating setting one up for my son. There are so few brokers who deal with LISAs and my own does not. I am tempted towards AJ Bell but have never dealt with them
solarno lopez
07/9/2017
10:24
Good for them and I wish them well
solarno lopez
07/9/2017
10:21
True, solarno. He's 20 though, so the prospect of saving up for 45 years time probably isn't going to thrill him. He (+ girlfriend) don't want to rent so are making a real effort to save for a deposit. The LISA scheme is unusually generous so they're both trying to put in the maximum amount each year for 5 years or so.
stun12
07/9/2017
09:53
Stun he could keep it for his pension which is another alternative
solarno lopez
07/9/2017
09:46
FCA news this AM as most will be aware.
essentialinvestor
07/9/2017
09:22
Bought some more, this time in my son's LISA. So not just a divi, but also a 25% top-up by the government at the end of the year. Only allowed to buy a house with it, mind.
stun12
07/9/2017
09:11
Ta may add again I think hopefully £8 soon
stevenrevell
07/9/2017
09:09
Corret 25.1p.
garycook
07/9/2017
09:07
Is it xdiv today
stevenrevell
04/9/2017
14:10
Yes, I've added some more on the fall - doubled my holding now.
woodhawk
04/9/2017
13:28
Also just topped up. Ex divi for interim on 7th Sept. Payment 2nd Oct.
my retirement fund
02/9/2017
01:35
Hope you do well with the rest of us Woodhawk. I note that the IC also updated their previous buy with another buy as per a post on iii: Tip Update: Buy at 781p Phoenix is churning out cash Acquisitions are a vital part of income play Phoenix’s (PHNX) ability to continue growing its cash generation and therefore its dividend. However, last year’s acquisition of Axa Wealth has proved more beneficial than expected, generating another £165m during the first six months of the year. That takes the total amount generated by the closed book life assurer’s latest purchase to £282m, above the £250m targeted within the six months of completion. Annual cost synergies are also expected to be between £13m and £15m, up from the £10m anticipated. That helped take total cash generation up to £360m, more than double the same time last year and beating consensus expectations of £333m. Management actions, including reducing expenses contributed £69m to operating profit, which also doubled year on year. Actuarial assumptions were updated to reflect lower longevity rates experienced across the industry, which also contributed. Management also announced plans to cut annual fees on its workplace pension products to 1 per cent at the end of 2017. It took a resultant £28m provision against the profit impact. The capital surplus increased from £1.1bn at the year-end to £1.7bn at the end of June, leaving plenty of space for further acquisitions. Analysts at Shore Capital expect adjusted net assets of 617p a share at 31 December 2017, down from 684p at the same time in 2016. The shares are up solidly on our buy tip (582p, 10 Apr 2014) and trade at 1.3 times forecast net assets, a more demanding valuation than at the full-year results. However, the group is progressing well against its cash generation target of £1bn-£1.2bn between 2017 and 2018. With a forward yield of 6.4 per cent, we remain buyers.
lauders
Chat Pages: 97  96  95  94  93  92  91  90  89  88  87  86  Older
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