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PHNX Phoenix Group Holdings Plc

552.60
10.40 (1.92%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
Phoenix Group Holdings Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker PHNX. The last closing price for Phoenix was 542.20p. Over the last year, Phoenix shares have traded in a share price range of 436.40p to 600.60p.

Phoenix currently has 1,001,100,000 shares in issue. The market capitalisation of Phoenix is £5.51 billion. Phoenix has a price to earnings ratio (PE ratio) of -3.01.

Phoenix Share Discussion Threads

Showing 2351 to 2375 of 10100 messages
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DateSubjectAuthorDiscuss
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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