Phoenix Share Discussion Threads

[rcturner2] 10/4/2015 09:53

Some of the cash figures I have seen bandied about for cashing in annuities have been pretty poor, no one is going to get their money back.

[envirovision] 10/4/2015 09:43

Jonwig, aren't their cash in valuations taking into account their pot includes a GAR?I sort of assumed a final valuation would be taking into account any loss of uplift from a GAR.

[jonwig] 10/4/2015 06:57

I caught part of a report on the ITV news yesterday evening about the volume of calls PHNX had received about the new pension rules.
It said about 68% (I think that was the figure) of them were from people wanting to fully cash in their pension pots.

Just how this would affect shareholders I don't know, but if holders of GA policies did this in big enough numbers it would be a big help!

[dasv] 26/3/2015 11:45

Mister MD - thanks. I was wondering why the fall was chunky.

[mister md] 26/3/2015 08:20

ex-dividend today

[jonwig] 23/3/2015 09:24

scburbs - thanks for that and the link. I was away most of last week and missed the follow-up to results.

So maybe this reassurance is what is pushing them higher?

[scburbs] 23/3/2015 09:09

Morning Jonwig,

There was a very enlightening bit on Solvency II in the Q&A (see P11).

The Solvency II position on a group basis is expected to be better than currently (PLHL ICA surplus). However, under Solvency II the surplus at group level is a bigger factor meaning they have slightly less surplus at Life company level (despite having more surplus overall).

Looks like the good news that the group is expected very well placed on Solvency II is outweighing whether the cash is held at parent (and they do already have £1bn) or life company level. Particularly, given there is only expected to be 1 year of catch up at life company level which reverses over remaining period to 2019.

hxxp://www.thephoenixgroup.com/~/media/Files/P/Phoenix-Group-V2/Attachments/pdf/FY14%20Transcript.pdf

[jonwig] 23/3/2015 09:01

I'm actually a bit surprised by current strength now that Solvency II is finally scheduled for next January.

As I see it, Solvency II will stop them raising the dividend until implementation becomes clearer, as more capital needs to be retained within the life funds. Similarly, the famous cash-flows to parent will reduce.
On top of that, they might find it harder to raise funds for takeovers.
Of course, MCEV won't be affected by the requirements.

[rcturner2] 23/3/2015 07:40

Decent write up of the results in the IC.

The summary is "The company's shares are up more than a quarter since last year's buy tip (654.5p, 10 April 2014). Yet they still yield over 6 per cent and trade 28 per cent below embedded value, which itself rose 11 per cent last year. Solvency II may hold back growth this year, but there's still lots of value in the shares. Buy."

[yupawiese2010] 22/3/2015 17:34

No - None to my knowledge.

[rcturner2] 22/3/2015 10:55

Any sunday press rumours anywhere?

[robsy2] 21/3/2015 19:09

Ah good all sorted then; The chart is a thing of some beauty!
Best
R2

[jonwig] 21/3/2015 18:05

LOL - A*V*N does that for us: generally OK, it can't handle share splits or consolidations, though!

[robsy2] 21/3/2015 09:06

jonwig
You might need to rescale the charts on the header.
R2

[skinny] 20/3/2015 17:09

There were some trades @935 @15:36 - top trades today :-

3929 935 1285 AT 895.5 935 15:36:47 1,285
3930 935 1285 AT 895.5 935 15:36:47 1,285
3927 926 299 AT 895.5 926 15:36:47 299
3928 926 493 AT 895.5 926 15:36:47 493
3925 923.5 1850 AT 895.5 923.5 15:36:47 1,850
3926 923.5 1850 AT 895.5 923.5 15:36:47 1,850
3924 923 300 AT 895.5 923 15:36:47 300
3923 921.5 470 AT 895.5 921.5 15:36:47 470
3922 920.5 3000 AT 895.5 920.5 15:36:47 3,000

[rcturner2] 20/3/2015 16:59

My screen says top price today was 935p??

WTF? something is up.

[madmix] 20/3/2015 16:48

Huge volume in the closing auction. Today's volume was the highest since July 2014. Interesting times.

[ursus] 20/3/2015 15:56

Well - given the appreciation of $ and SFR, it is cheaper for Swiss Re to have another go now than it was 18 months ago....

[sogoesit] 20/3/2015 15:48

Ooh, aah... what's going on here?
This is not just "someone catching on to the yield"... this is more than that but I wonder what?

[skinny] 20/3/2015 15:29

It is tempting to take some profit - everything is on steroids this afternoon after the 7000 breach.

Nobody ever went bankrupt banking a profit - hmmmm.


free stock charts from uk.advfn.com

[envirovision] 20/3/2015 15:28

Im out I dont care how overbought it gets. Im done. Cheers all.

[spittingbarrel] 20/3/2015 15:27

Was thinking of letting some go at 875, but it feels like someone knows something unless they've finally woken up to it's yield.

[gliderpilot2002] 20/3/2015 15:27

Where else can you get this yield? My dilemma too so I will stick with this.

[rimmy2000] 20/3/2015 15:25

dont sell 'em sb, holding mine :D

[spittingbarrel] 20/3/2015 15:11

Feel I ought to be selling some, but where else can you get 6% yield?