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
  +0.00p +0.00% 757.50p 757.50p 758.50p - - - 0 06:39:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 7,373.0 -70.0 -34.3 - 2,977.78

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Date Time Title Posts
12/11/201717:31PHOENIX GROUP ::::::::: Zombie Fund2,461
02/3/201616:56Phoenix Group latest news and comments-

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Phoenix Group (PHNX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
07:20:13757.508,30262,887.65O
07:20:03758.396134,648.93O
07:17:40756.50262,1581,983,225.27O
2017-11-21 17:15:00756.50262,1581,983,225.27O
2017-11-21 17:02:03757.552,30017,423.62O
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Phoenix Group (PHNX) Top Chat Posts

DateSubject
21/11/2017
08:20
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 756p.
Phoenix Group has a 4 week average price of 744.50p and a 12 week average price of 727.50p.
The 1 year high share price is 812p while the 1 year low share price is currently 695p.
There are currently 393,106,867 shares in issue and the average daily traded volume is 515,114 shares. The market capitalisation of Phoenix Group is £2,977,784,517.53.
16/8/2017
11:28
lauders: ADM results today knocked the company's share price back a bit but it is recovering now. No doubt due to some concerns about the dividend yield. Doesn't seem to have dented PHNX too much. Next week we will see what PHNX have to say.
11/6/2017
01:24
lauders: RCT = Some people prefer others to manage their money and do not have the time to follow boards like us or don't have any interest. Guess they follow a name and let's face it Mark Slater is a big name in the financial world. Hence they trust his funds and will pay for it. Plenty do, so it would appear, so I doubt they are too worried about the charges. One PHNX related link: Http://www.fool.co.uk/investing/2017/05/24/these-2-high-yield-dividend-stocks-could-prove-a-risk-too-far/ From the ashes FTSE 250-listed Phoenix Group (LSE: PHNX) is a niche operator in the financial services industry, as the UK’s largest consolidator of closed life funds. That means it specialises in acquiring and managing closed life and pension funds and it’s a big business, with 6.1m policyholders and £76bn of assets. Recent acquisitions include big names such as Abbey Life, AXA Wealth and distribution business SunLife. Phoenix makes its money from decommissioning closed life funds, including with-profits funds, which may sound like a dying business but closed funds will be an issue for decades to come, and policyholders need Phoenix to secure their interests, and their money. Cash cow Investors in Phoenix, which has a market cap of £2.95bn, have done well over five years, doubling their money. However, the last 12 months have been patchy, with the share price going nowhere. Yet at the same time the yield has surged to 6.22%. One reason is that Phoenix throws off growing sums of cash, generating £486m in 2016, double its 2015 total of £225m. That allowed management to fund a 5% dividend hike for 2016, as its £373m acquisition of AXA Wealth’s pensions and protection business and £933m purchase of the Abbey Life business have generated synergies and boosted cashflow. The company’s strengthened Solvency II surplus, shareholder capital coverage ratio and rise in group operating profit from £324m t0 £351m in 2016 also impress. Management has upgraded its long-term targets for cash generation from £2bn to £2.8bn for 2016-2020, which should improve its non-existent dividend cover, currently -0.7%. However, growth prospects look patchy with earnings per share (EPS) expected to be flat in 2017, then to fall 2% next year. A forecast valuation of 16.9 times earnings hardly excites, given these challenges. Phoenix will rise again, but you may have to be patient. I can be patient with this one.
20/3/2017
09:54
yupawiese2010: Jonwig. Back in January, - Deutsche had the following to say. As you will observe in the last paragraph , conclusion was that any potential deal up to £1 - 1.5 billion could be done with cash / debt Link. From Citywire: "Deutsche likes Phoenix’ fire power Deutsche bank has upgraded its recommendation for Phoenix Group Holdings (PHNX), believing the market under-estimates the life insurance consolidator’s capacity to make another value-enhancing acquisition this year. Insurance analyst Oliver Steel lifted the stock to ‘buy’ from ‘hold’, but lowered his share price target to 835p from 870p, explaining the purchases of the AXA Wealth and Abbey Life legacy pension businesses last year left Phoenix in a strong position to snap up another closed book of policies this year. ‘Phoenix has finally emerged from seven years of balance sheet recovery with the announcement of two acquisitions in 2016. We think investors are under-estimating the rapid improvement in solvency and debt capacity over 2017e- 2018e,’ said Steel. ‘Specifically, we think a hypothetical £1 billion - £1.5 billion acquisition could be funded principally out of cash and debt rather than equity, adding either side of 25% to future value - something that in our view is not sufficiently reflected in the current share price. Reflecting this, we lift our recommendation to “buy” with a 835p price target,’ the analyst said.
13/2/2017
10:19
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?
31/1/2017
08:57
speedsgh: Deutsche likes Phoenix’ fire power - HTTP://citywire.co.uk/money/the-expert-view-barclays-itv-and-diageo/a988504?ref=citywire-money-picture-galleries-list#i=5 Deutsche bank has upgraded its recommendation for Phoenix Group Holdings (PHNX), believing the market under-estimates the life insurance consolidator’s capacity to make another value-enhancing acquisition this year. Insurance analyst Oliver Steel lifted the stock to ‘buy’ from ‘hold’, but lowered his share price target to 835p from 870p, explaining the purchases of the AXA Wealth and Abbey Life legacy pension businesses last year left Phoenix in a strong position to snap up another closed book of policies this year. ‘Phoenix has finally emerged from seven years of balance sheet recovery with the announcement of two acquisitions in 2016. We think investors are under-estimating the rapid improvement in solvency and debt capacity over 2017e- 2018e,’ said Steel. ‘Specifically, we think a hypothetical £1 billion - £1.5 billion acquisition could be funded principally out of cash and debt rather than equity, adding either side of 25% to future value - something that in our view is not sufficiently reflected in the current share price. Reflecting this, we lift our recommendation to “buy” with a 835p price target,’ the analyst said. Steel’s comments follow a trading update earlier this month in which Phoenix revealed it had generated £486 million of cash in 2016, £117 million from the two acquired businesses. It reports full-year results in March. The shares softened 0.9p yesterday to 743.6p.
16/12/2016
10:03
hiddendepths: Just looking at this stock. FWIW The share price has been weak because of the dilution effect of the rights issue, sometimes known as the bonus element of the rights. This is how to get the theoretical ex rights price. Before the rights was announced, holders had 12 shares (or a multiple thereof!)valued at 880p/share = £105.60 They receive 7 more shares at the 508p each = £35.56 So the new holding is 19 shares worth 105.60 + 35.56 =141.16 This is equivalent to 743p per share, known as the theoretical ex rights price and is the equivalent of the old 880p price. So the shares are down about 3%, probably due to some insitutions reducing their weightings back to where they were before taking the extra shares. This is a normal and temporary overhang and should be corrected in due course.
03/10/2016
12:01
sogoesit: ganthorpe, yes, I think so too. bluemango; Note (2) to the statement about dividends says the following: 2) Stated after adjusting the 2015 dividend per share for the bonus element of the Rights Issue and based on the closing share price as at 27 September 2016 of 838.5p. This contradicts what I previously thought. My conclusion is that there will therefore be a 5% increase on the EQUIVALENT dividend per share adjusted for the new number of shares in issue. My calculation is as follows: Current half dividend (just paid today) of 26.70p/old share Equivalent dividend adjusting for bonus element: 16.86p/share (7 for 12 rights) Increased by 5% for the AXA deal: 17.70p/new share (annual 33.73p) Increased by 5% for the Abbey deal (not compound): 18.55p/new share (annual 37.10p) Does that make sense and work? This is the quote: "Acquisition will support a proposed increase in dividends in respect of 2017 to £197 million, representing a further 5%(2) increase in dividend per share ("DPS") in addition to the 5% increase in DPS as a result of the AXA transaction, and equivalent to a total increase in the DPS of 10%(2) from the 2015 level." and "Supports a further increase in the proposed dividend: The incremental cashflow generation from the Acquisition supports (subject to regulatory approval) a proposed increase in dividends in respect of 2017 to £197 million. Based on the closing share price on 27 September 2016, this is equivalent to a further 5%(2) increase in the DPS, with effect from the interim dividend payable in respect of 2017 and is in addition to the 5% increase in DPS as a result of the AXA transaction. The total dividend payable in respect of 2017 would represent an increase in the DPS of 10%(2) from the 2015 level. The Directors believe this is a sustainable level at which to rebase the dividend going forward." However, my calculations do not tally with the total new dividend payments of £197m. If £197m is paid out in 2017, on the total new shares, this would amount to an annual dividend of 50.15p (25.075p semi-annual). I do not know why they say "based on the closing share price of 27 September 2016". Maybe these increases refer to a change in the YIELD not the dividend per share (DPS)? Is it just me that is confused?
29/9/2016
08:40
rcturner2: Note also that buying the nil paid rights is a kind of leveraged exposure to the share price, so they will be more volatile than the actual share price. They will also have a time value element, so could also trade higher than the share price minus the rights price.
24/11/2014
08:36
jonwig: envirovision - Possible, yes, and converse to what I suggested, it makes PHNX even more undervalued on an EV basis. But who bids? I get the impression that AV. was after FLG's active, corporate pensions business rather than its private individuals. PHNX as predator or prey? The PHNX share price is still far short of EV (1030p or so) so the market must be thinking about the latter. Also, there's debt: FLG has low gearing.
24/3/2014
07:47
scburbs: Surely that depends on the price and the impact further degearing would have on how the market values PHNX (which may allow them to do further deals). I do agree that Ignis is a good asset for PHNX and they shouldn't sell it on the cheap. However, I think that the Ignis value has never really been reflected in the PHNX share price (perhaps because it has large internal contracts). Turning that value into cash will make it much harder for the market to ignore!
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