Medway Man
30 May 2018
Details of offer Does anyone know what the terms of the offer is and timescale?Have tried 4 different browsers and all say the PDF file on Phoenix site appears to be corrupted at the moment and therefore is not opening.
TX2
08 May 2018
Re: When to buy? The rights issue will probably be late next month/early July;so if buying in the meantime it could be worth holding back part of the cash you intend to invest till the rights terms are announced.I understand about £950m is being raised in the rights issue,which I think is around 25% additional investment.As an existing holder I will probably take up my rights as it seems a decent proposition.
the last night trader
08 May 2018
Re: When to buy? i am waiting for details of the rights issue......I have these already and will buy my rights. No right answer to your questio
Jar-Jar Both
07 May 2018
When to buy? Am looking to buy into Phoenix, should I wait until Standard Life purchase/integration is done and dusted or will SP rise further due to increase in funds?What do you reckon?
Canny Mannie
23 Feb 2018
Re: Chart I hold both PHNX and CSN actually. CSN has done better for SP growth but both are solid dividend plays.GLTA
r21442
23 Feb 2018
Re: Chart Been boringly good for me. Held for 7 years. +20% up and 6-7% yields every year versus interest rates in the grubber. All good.CSN has done even better!
strapuk
23 Feb 2018
Re: Chart Many thanks for educating me. Agree with all of what you say, although many of the points are the result of emotional input rather than sound economics - but then that is pretty much applicable to most stocks I guess!! Haha and then I open the link!! Kind of confirms what I've just said!! Anyway, I bought this as a boring income provider, and any cap gain is a Brucey!
FRTEB
23 Feb 2018
Re: Chart " I am not sure why the SP would be expected to go up without acquisitions. " I can think of many reasons! Let me help to educate you 
Dividend yield A relative safe haven in times of volatility Takeovers & acquisitions Institutional investing (Notification of Major Holdings RNS's) The market as a whole rises in value (a rising tide lifts all ships) Rumours! Price action confirms lines of support Buying and selling price action hits key chart pivot points triggering algos to start buying A trader at Goldman Sachs et al gets out of bed in a good mood and thinks its his lucky day! Soi starts day trading PHNX An analyst writes an article about PHNX A fund manager adds PHNX to his portfolio Battered & bruised utility investors seek a home for their money Investors rediscover the benefits of dull & boring non-utility income stocks A financial press article states the obvious that we're living longer - how you can profit...! PHNX moves from FTSE250 to FTSE100 - fund managers obliged to buy Hurty fingers. That will do for starters. I leave you with this : [link]
Self made hedge operator
23 Feb 2018
Re: RNS: reverse takeover I am liking the idea that they aim (and are becoming) the go-to entity to handle legacy portfolios.There was even talk on the SLA conference call of them taking some of the Lloyds business (as thy are no longer a competitor), which would be a huge turnaround from earlier in the week.
strapuk
23 Feb 2018
Re: Chart I am not sure why the SP would be expected to go up without acquisitions. This is a business pretty much solely devoted to closed life businesses which are in the, (admittedly long time span), process of running-down of policies. It is therefore really only an income generator for shareholders unless and until new closed life businesses are acquired. The latest proposed acquisition is a big one so, (the rights issue not withstanding), an increase in SP might be expected. The only other reason the SP might rise would be investors' perception of the "value" of the income being generated and provided to investors. Of course, with interest rates just beginning to edge higher, the relative "value" of the income from PHNX might reduce leading to a lower SP.Just my thoughts that are probably nonsense! But the acquisition on the surface looks a good thing for us. I shall be taking up my full Rights.
sound money
23 Feb 2018
Re: Chart FRTB,Agree with your sentiments.I hold both. I'm certainly not unhappy about a rights issue although it will slightly increase the amount of my wad that I allocate to one company.This has synergy written all over it.For Standard Aberdeen by ditching insurance the market should give it a higher rating as a pure investment play.M
FRTEB
23 Feb 2018
Chart Looking at a chart if the sp can manage to stay above ~804 then the next strong resistance is around 831. If this is overcome there could be a prolonged period of sp growth. About time too - it's gone sideways for the last three years.
FRTEB
23 Feb 2018
RNS: reverse takeover The reverse takeover of Standard Life Assurance seems like a good plan. The PHNX sp hasn't really gone anywhere for the last three years but this is a solid income play and the future looks quite bright assuming the reverse takeover goes ahead. It will turn PHNX into a major player with "£240 billion of legacy assets and 10.4 million policyholders". The enlarged company should see promotion to the FTSE100. The takeover will also bolster the dividend, which is currently offering ~6.1% even after today's sp uplift to 800. The details of the rights issue to partly fund the takeover have still to be announced but as they'll want full takeup I have no reason to expect anything other than a modestly favourable price. It all looks very positive to me. What have I missed?!
jim b-r
07 Sep 2017
drop because... x div 25.1pence
r21442
31 Aug 2017
IC update Tip Update: Buy at 781pPhoenix is churning out cashAcquisitions are a vital part of income play Phoenix’s (PHNX) ability to continue growing its cash generation and therefore its dividend. However, last year’s acquisition of Axa Wealth has proved more beneficial than expected, generating another £165m during the first six months of the year. That takes the total amount generated by the closed book life assurer’s latest purchase to £282m, above the £250m targeted within the six months of completion. Annual cost synergies are also expected to be between £13m and £15m, up from the £10m anticipated.That helped take total cash generation up to £360m, more than double the same time last year and beating consensus expectations of £333m. Management actions, including reducing expenses contributed £69m to operating profit, which also doubled year on year. Actuarial assumptions were updated to reflect lower longevity rates experienced across the industry, which also contributed. Management also announced plans to cut annual fees on its workplace pension products to 1 per cent at the end of 2017. It took a resultant £28m provision against the profit impact. The capital surplus increased from £1.1bn at the year-end to £1.7bn at the end of June, leaving plenty of space for further acquisitions. Analysts at Shore Capital expect adjusted net assets of 617p a share at 31 December 2017, down from 684p at the same time in 2016.The shares are up solidly on our buy tip (582p, 10 Apr 2014) and trade at 1.3 times forecast net assets, a more demanding valuation than at the full-year results. However, the group is progressing well against its cash generation target of £1bn-£1.2bn between 2017 and 2018. With a forward yield of 6.4 per cent, we remain buyers.
