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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Phoenix Group Holdings Plc | LSE:PHNX | London | Ordinary Share | GB00BGXQNP29 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
10.40 | 1.92% | 552.60 | 550.00 | 550.20 | 551.20 | 541.20 | 544.20 | 6,499,251 | 16:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Life Insurance | -34.59B | -1.83B | -1.8270 | -3.01 | 5.51B |
Date | Subject | Author | Discuss |
---|---|---|---|
24/8/2017 06:42 | By the time I buy some Phoenix, she'll be rising... | danieldruff2 | |
24/8/2017 06:40 | Especially with accerating cash generation. | hvs | |
24/8/2017 06:40 | Impressive! A rerating looks to be in order. The only issue I have is that these figures were released on a Friday in August just ahead of the Bank Holiday. Maybe the City won't notice until September! | hiddendepths | |
24/8/2017 06:30 | Much better than expected Interims,with great cash flow,and a 50.20p Full year dividend yielding 6.5%.This should be good going forward for the share price | garycook | |
24/8/2017 06:30 | Very happy with those results. | rcturner2 | |
24/8/2017 06:15 | PHOENIX GROUP DELIVERS STRONG CASH GENERATION AND IS AHEAD OF PLAN ON REALISING ACQUISITION BENEFITS Phoenix Group, the UK's largest specialist closed life fund consolidator1, today announces its results for the six months ended 30 June 2017. FINANCIAL HIGHLIGHTS - £360 million of cash generation2 in H1 2017 (H1 2016: £147 million) - Total holding company cash of £691 million2 as at 30 June 2017 (£570 million as at 31 December 2016) - The Group remains on track to achieve its cash generation target of £1.0 billion - £1.2 billion between 2017 and 2018 and its longer term cash generation target of £2.8 billion between 2016 - 20202 - Solvency II surplus as calculated at Phoenix Group Holdings of £1.7 billion3 as at 30 June 2017 (£1.1 billion as at 31 December 2016) - Shareholder Capital Coverage Ratio as calculated at Phoenix Group Holdings of 166% as at 30 June 20174 (139% as at 31 December 2016) - Group operating profit of £215 million in H1 2017 (H1 2016: £107 million) - Interim dividend of 25.1p per share, a 5% increase on the 2016 final dividend INTEGRATION OF ACQUISITIONS AHEAD OF EXPECTATIONS - AXA acquisition has generated a total of £282 million of cash to date, of which £165 million was generated in 2017, exceeding the target of £250 million of cash generation within 6 months of completion - AXA cost synergies now expected to be between £13 million to £15 million per annum, increased from original expectations of £10 million of cost savings per annum - Customer governance model in place to provide oversight of Abbey Life business - On track to achieve cost synergies of £7 million from Abbey Life acquisition ONSHORING PROCESS SUPPORTED BY RECENT SUBORDINATED DEBT ISSUANCE - Issuance of US$500 million of Tier 2 subordinated debt and £450 million of Tier 3 subordinated debt in 2017, used to refinance the Group's senior debt - Credit rating upgrade from Fitch Ratings achieved in July 2017 - Progress towards putting in place a new UK-registered holding company for the Group in mid 2018 COMMENTING ON THE RESULTS, GROUP CEO, CLIVE BANNISTER SAID: "The Group continues to deliver strong cash generation and remains on track to achieve its targets, supported by capital and cost synergies from the AXA and Abbey Life acquisitions. The plans to bring Phoenix onshore are progressing well and have been supported by the issuance of over £800 million of subordinated debt during 2017. Our strengthened capital position and the recent upgrade from Fitch Ratings gives us the financial flexibility to execute additional acquisitions in future." | skinny | |
24/8/2017 06:12 | Cracking set of results with much more to come. | hvs | |
23/8/2017 12:01 | U gets what u buyz. | hvs | |
23/8/2017 11:46 | Never nice to see jobs go and I hope those affected manage to find a new job soon. I suppose it is all part and parcel of mergers. Cost savings are the norm. See that PHNX have added two news items to their website this month so far: 1) For the over 55s! Not quite there yet. 2) "MyPhoenix" encashment service. Good luck tomorrow holders. Hoping for positive results and a good dividend. The latter was the main reason I bought in here. Income! | lauders | |
23/8/2017 08:26 | Results will be very good. | hvs | |
21/8/2017 15:36 | Whilst it's quiet... Phoenix to cut 60 jobs following AXA acquisition - | speedsgh | |
17/8/2017 04:59 | Thank you jonwig. That helps a lot. Cheers! | lauders | |
17/8/2017 04:39 | Lauders - general insurance (ADM) and life insurance (PHNX) both manage large amounts of cash which they pay out in the event of claims. Hence regulators need to know that they have enough cash managed properly - that's your Solvency II. The similarities don't go much further, though: life insurance and annuities work in a reasonably predictable manner with long-term horizons. General insurance is pretty cut-throat with new entrants trying to cash in on low margins. Check out the "combined ratio" for a useful metric. ADM seems to manage better than most, though I don't know much about it. edmundshaw is correct: the so-called Ogden discount rate is all to do with stage payments in accident insurance and seems to have been messed up by the government. | jonwig | |
17/8/2017 01:25 | I thought they were in the same sector edmund? Solvency II is mentioned in their results too, but perhaps I am mistaken. Apologies if so. | lauders | |
16/8/2017 17:36 | ADM not really in the same business, surely? I cannot see how the change in the Ogden discount rate is going to affect closed life business!! | edmundshaw | |
16/8/2017 11:28 | 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. | lauders | |
16/8/2017 08:28 | A week tomorrow, 24th August. | peterburn | |
16/8/2017 08:16 | When is results day ta | stevenrevell | |
08/8/2017 08:53 | Breaking out of Symmetrical Triangle Potential turn 23/24 October 2017 | bamboo2 | |
04/8/2017 07:20 | FWIW JPMC have upped their target price a few coppers:- 04 Aug 17 JP Morgan Cazenove Overweight 0.00 826.00 837.00 Reiterates | cwa1 | |
03/8/2017 06:54 | Good results from AV. today may help the recent momentum here continue. With luck! | lauders | |
01/8/2017 11:14 | Provisional dates are shown on the company's website trogerswinning and doubleorquits. | lauders | |
01/8/2017 10:51 | Nothing will be announced until results at end of month but the above outlines perevious dividend data | doubleorquits | |
01/8/2017 10:49 | Any idea when the next dividend is due? | trogerswinning | |
27/7/2017 01:48 | The latest article from PHNX on their website: The amazing internet: Phoenix reveals what British adults are getting up to online * Finding a new partner, dealing with cancer and discovering you are adopted are just some of the life changing benefits of using the internet *84% of Brits use the internet to manage their finances *However, 77% of us dread having to use the internet in some way *British adults spend over 30 hours a week on the internet, though this time falls to 23 hours with the over 55s | lauders |
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