Phoenix Share Discussion Threads

[garycook] 04/2/2017 04:25

Totally agree,and not before time.

[mister md] 03/2/2017 20:34

great move up this week for PHNX

[philo124] 31/1/2017 12:36

Thanks Guys.

[essentialinvestor] 31/1/2017 11:36

CSN has been strong of late as I mentioned, so thought we may get some
support here.

Chesnara's recent acquisition entailed a smaller % equity raise than PHNX,
may be one of the reasons it's trading near an all time high.

[mozy123] 31/1/2017 11:31

Looks good for a breakout!

[speedsgh] 31/1/2017 08:57

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.

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.

[jonwig] 27/1/2017 15:06

It's been pointed out elsewhere that my reading of future dividends is incorrect. Did I misread pp 56-57?

As a result of the AXA Transaction, the Board is expecting to increase the final dividend in respect of 2016 to £69 million (equating to an increase of 5 per cent. to the dividend per share).
Given the additional shares to be issued in connection with the Rights Issue, the final dividend in respect of 2016 is expected to increase by a further £25 million to £94 million, resulting in a full year dividend in respect of 2016 of £160 million.

So we'll get a final of £94m on 392.85m shs ... 23.93p.

From what I can see, my figure of 50.1p for 2017 stands, but naturally I'm open to argument.

Sorry about that - age-related brain degeneration. (Not to worry, it's like finding an extra tenner in an old suit!)

[masurenguy] 24/1/2017 11:15

Added today @733p.

[rcturner2] 23/1/2017 17:18

As I said before, anything under 750p is a bargain here.

[philo124] 23/1/2017 17:15

Good move.

[mozy123] 23/1/2017 15:09

Added my first half position today. Too cheap in my book.

[speedsgh] 23/1/2017 10:36

Berenberg issues a broker note on Phoenix Group Holdings -

Berenberg today upgrades its investment rating on Phoenix Group Holdings (LON:PHNX) to buy (from hold) and raised its price target to 821p (from 759p).

[linton5] 18/1/2017 16:30

Haha I'm in shock admiral doesn't know what blue is lol ehg on my portfolio as from today

[essentialinvestor] 18/1/2017 16:26

In danger of a blue finish!, oh my.

[linton5] 18/1/2017 12:22

Looks like a breakout on ehg

[linton5] 18/1/2017 11:22

Insurance sector due a change of direction lol.good old Aviva never budges but the rest drop

[essentialinvestor] 18/1/2017 11:13

Sector looks a little weaker today, had some at 718.3.

CSN which I also hold has been very strong recently, their recent acquisition
was also funded largely by an equity raise, the deal was smaller as a % of
market cap than the latest PHNX purchase.

[linton5] 18/1/2017 11:08

To slow there I was gonna buy more under 720 oh well next time

[orinocor] 18/1/2017 10:27

The Midas buy tip at 742p is not looking to clever just now.

I take it a Phoenix does not like a hard Brexit?

[philo124] 18/1/2017 08:42

Bought in. ISA.

[edmundshaw] 17/1/2017 21:27

For one year...

[rl34870] 17/1/2017 18:43

If you assume the current price includes a proportionate half yearly dividend of 17p assuming a full half year of 25p then based on today's price of 7.27 current yield is 7.05%.

[essentialinvestor] 17/1/2017 16:47

Added 3 small lots, sold a few GSK last week to add here,
Expected some outsized moves today as mentioned.
If markets begin to sell off hard then about everything is going lower.