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 Shares Traded Last Trade
  -14.50p -1.82% 781.00p 4,131,644 16:35:08
Bid Price Offer Price High Price Low Price Open Price
782.50p 783.50p 798.50p 782.00p 798.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 7,373.0 -70.0 -34.3 - 3,071.18

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Date Time Title Posts
16/3/201811:03PHOENIX GROUP ::::::::: Zombie Fund2,616
02/3/201616:56Phoenix Group latest news and comments-

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Phoenix Group Daily Update: Phoenix Group is listed in the Life Insurance sector of the London Stock Exchange with ticker PHNX. The last closing price for Phoenix Group was 795.50p.
Phoenix Group has a 4 week average price of 741.50p and a 12 week average price of 719p.
The 1 year high share price is 820p while the 1 year low share price is currently 719p.
There are currently 393,236,289 shares in issue and the average daily traded volume is 1,223,286 shares. The market capitalisation of Phoenix Group is £3,071,175,417.09.
hyden: Actually, on reflection, I think a 1 for 3 Rights Issue leaves a discount to the current share price which is just too narrow (~8%) so Numis may be right after all.
finkwot: Perhaps I'm being dim but I don't understand what is meant by this: "Based on last night’s share price this is the equivalent to a 3% increase in dividend per share." Does he mean 3 percentage points, ie to over 9%? If not, why cite the share price? "In this case we’re increasing the dividend from £197m to £338m, as I said, an equivalent of 3%" Also, since the terms of the rights issue haven't been published yet, how can he know the level of dividend per share?
pj fozzie: I'll join in thanking you Yupa - a good link and further reinforces my positive mood towards Phoenix. I'm very happy to take up the rights issue and continue to build up my holding. Slightly surprised that the share price is easing off a bit. The more I internalise the news, the more positive I feel. I was expecting a slow drift upwards after the Friday jump. Cheers, PJ
edmundshaw: That is three good transactions since I invested in 2015, all of them enhancing the shareholder position in terms of security, dividend and underlying company strength. This one is particularly agreeable, including some longer term cash generation and supporting the dividend for many years to come. To date the share price gains from a very active management are giving us higher returns than the chunky dividend; long may that continue!!
stemis: A £338m annual dividend at the current dividend yield of 6.5%, is a £5.2bn market cap Which implies a current share price of about 818p The question will be whether the deal will allow the stock to be re-rated, with the yield moving closer to its UK life peers yields of Legal’s (6.2% FY18 yield) and Aviva (5.8% yield). Which would be a share price of 869 - 945p
edmundshaw: What is not to like indeed. Enhanced dividends, greater visibility and sustainability of the dividend (beyond the already 10 year+ horizon we had before today), a management that continues to execute great deals, and all the synergies and benefits of the last two major transactions ahead of targets. pre XR date £8 seems just a starting point for the likely share price rise here.
topvest: Anyone found the rights issue terms please? A bit impenetrable. Looks a good deal though judging by the share price performance.
jonwig: The rights issue will ask for 242p per existing share, and the price is irrelevant, except large existing shareholders would get even larger if the rights price were low. Sogoes it - they say: This additional cash generation supports a proposed increase in the annualised cost of the dividend to £338 million from the date of the 2018 final dividend. Based on the Phoenix closing share price of 759.5 pence per share as at 22 February 2018, this would be approximately equivalent to a 3% increase in the dividend per share. The actual reported year-on-year dividend per share uplift will depend on the bonus element of the proposed Rights Issue at the time of the start of trading of the nil-paid rights. ... though that's a bit opaque!
jonwig: 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.
stun12: That would be quite the lump to add. Personally, I'd like to see it happen, though no doubt some volatility in PHNX share price would ensue. Is this why we've had a few days of mild down when the wider market has been ticking up?
Phoenix Group share price data is direct from the London Stock Exchange
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