Actualités en direct • Jun 05
Phoenix Financial Posts 24% Q1 Income Growth With BUYME and Fidelis Acquisitions Phoenix Financial reported a 24% rise in comprehensive income for Q1 2026, indicating stronger profitability in the period.
The company completed acquisitions of BUYME Digital platform and Fidelis Wealth Management, aiming to broaden its client acquisition channels and service offering.
Phoenix Financial reported a solvency ratio of 178% and plans to distribute 57% of Q1 income through dividends and buybacks.
The combination of higher Q1 comprehensive income, business expansion through acquisitions and a high solvency ratio points to a company that is both reinforcing its balance sheet and investing in future growth avenues.
Investors may want to weigh the appeal of the relatively high payout level against the ongoing capital needs of integrating new businesses such as BUYME Digital and Fidelis Wealth Management. Declared Dividend • May 31
First quarter dividend of ₪1.27 announced Shareholders will receive a dividend of ₪1.27. Ex-date: 9th June 2026 Payment date: 16th June 2026 Dividend yield will be 2.9%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 35% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 28
First quarter 2026 earnings released: EPS: ₪2.79 (vs ₪2.20 in 1Q 2025) First quarter 2026 results: EPS: ₪2.79 (up from ₪2.20 in 1Q 2025). Revenue: ₪3.60b (up 11% from 1Q 2025). Net income: ₪707.2m (up 28% from 1Q 2025). Profit margin: 20% (up from 17% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Apr 27
Phoenix Financial Ltd to Report Q1, 2026 Results on May 28, 2026 Phoenix Financial Ltd announced that they will report Q1, 2026 results on May 28, 2026 Upcoming Dividend • Apr 06
Upcoming dividend of ₪1.42 per share Eligible shareholders must have bought the stock before 13 April 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Israeli dividend payers (5.5%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: ₪12.78 (vs ₪7.21 in FY 2024) Full year 2025 results: EPS: ₪12.78 (up from ₪7.21 in FY 2024). Revenue: ₪19.3b (down 22% from FY 2024). Net income: ₪3.22b (up 77% from FY 2024). Profit margin: 17% (up from 7.3% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Mar 27
Phoenix Financial Ltd Updates Dividend Policy Phoenix Financial Ltd. updated its dividend policy from a minimum of 40% to a minimum of 45% of comprehensive income and is guiding for combined dividends and buybacks of at least 55% in 2026. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪184, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Insurance industry in Asia. Total returns to shareholders of 473% over the past three years. Annonce • Feb 17
Phoenix Financial Ltd to Report Fiscal Year 2025 Results on Mar 26, 2026 Phoenix Financial Ltd announced that they will report fiscal year 2025 results on Mar 26, 2026 Price Target Changed • Feb 03
Price target increased by 13% to ₪166 Up from ₪146, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₪164. Stock is up 162% over the past year. The company is forecast to post earnings per share of ₪12.46 for next year compared to ₪7.21 last year. Annonce • Jan 02
Phoenix Financial Ltd (TASE:PHOE) announces an Equity Buyback for ILS 300 million worth of its shares. The Phoenix Holdings Ltd. (TASE:PHOE) announces a share repurchase program. Under the program, the company will repurchase up to ILS 300 million of its shares. The repurchase program is financed with a loan and independent sources. The repurchase program will expire on December 31, 2026. New Risk • Dec 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.3% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (142% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.3% net profit margin). Reported Earnings • Nov 29
Third quarter 2025 earnings released: EPS: ₪3.22 (vs ₪1.89 in 3Q 2024) Third quarter 2025 results: EPS: ₪3.22 (up from ₪1.89 in 3Q 2024). Revenue: ₪5.34b (down 30% from 3Q 2024). Net income: ₪813.6m (up 71% from 3Q 2024). Profit margin: 15% (up from 6.2% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 26
Phoenix Financial Ltd Decides to Pay Dividend, Payable on December 10, 2025 Phoenix Financial Ltd. decided to pay a dividend to the Company's securities of NIS 1.2589420 for single security. The effective date (Record Day): December 03, 2025. Date of payment: December 10, 2025. The total amount of the dividend to be paid is: NIS 320,000,000. Decision of the Board of Directors ("BOD") dated November 25, 2025. Annonce • Oct 31
Phoenix Financial Ltd to Report Q3, 2025 Results on Nov 26, 2025 Phoenix Financial Ltd announced that they will report Q3, 2025 results on Nov 26, 2025 Buy Or Sell Opportunity • Oct 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to ₪123. The fair value is estimated to be ₪101, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 23%. Buy Or Sell Opportunity • Sep 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ₪124. The fair value is estimated to be ₪101, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 23%. New Risk • Sep 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Israeli stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 13x cash flows per share). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Declared Dividend • Aug 27
Dividend of ₪1.59 announced Shareholders will receive a dividend of ₪1.59. Ex-date: 1st September 2025 Payment date: 8th September 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (dividend approximately 13x free cash flows). The dividend has increased by an average of 45% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: ₪3.81 (vs ₪2.75 in 2Q 2024) Second quarter 2025 results: EPS: ₪3.81 (up from ₪2.75 in 2Q 2024). Revenue: ₪5.37b (up 8.2% from 2Q 2024). Net income: ₪957.0m (up 129% from 2Q 2024). Profit margin: 18% (up from 8.4% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 59% to ₪126. The fair value is estimated to be ₪104, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 5.1%. Annonce • Aug 16
Klirmark Capital Group, Leumi Partners Ltd., Mizrahi Tefahot Invest Ltd, Phoenix Financial Ltd (TASE:PHOE), Meitav Provident Fund Ltd. and a Large Family Office Investor entered into a stock purchase agreement to acquire GT Gettaxi (UK) Limited from VNV Global AB (publ) (OM:VNV), MCI Capital Alternatywna Spólka Inwestycyjna S.A. (WSE:MCI) and Access Industries, Inc. for approximately $190 million. Klirmark Capital Group, Leumi Partners Ltd., Mizrahi Tefahot Invest Ltd, Phoenix Financial Ltd (TASE:PHOE), Meitav Provident Fund Ltd. and a Large Family Office Investor entered into a stock purchase agreement to acquire GT Gettaxi (UK) Limited from VNV Global AB (publ) (OM:VNV), MCI Capital Alternatywna Spólka Inwestycyjna S.A. (WSE:MCI) and Access Industries, Inc. for approximately $190 million on August 15, 2025. As part of acquisition, VNV Global AB will receive $89.1 million for sale of its part of shares. VNV Global will receive approximately $86.7 million in connection with closing which will occur early next week. The remaining $2.5 million will be held in escrow as part of the buyer’s protection under the stock purchase agreement. The Escrow Amount will be released to VNV Global in full following the second anniversary of the closing of the transaction. Annonce • Jul 29
Phoenix Financial Ltd (TASE:PHOE) acquired 7.47% stake in Zephyrus Wing Energies Ltd (TASE:ZPRS) for ILS 67.4 million. Phoenix Financial Ltd (TASE:PHOE) acquired 7.47% stake in Zephyrus Wing Energies Ltd (TASE:ZPRS) for ILS 67.4 million on July 28, 2025. A cash consideration will be paid by Phoenix Financial Ltd. As part of consideration, an undisclosed value is paid towards common equity of Zephyrus Wing Energies Ltd.
Phoenix Financial Ltd (TASE:PHOE) completed the acquisition of an unknown minority stake in Zephyrus Wing Energies Ltd (TASE:ZPRS) on July 28, 2025. Annonce • Jul 16
Phoenix Financial Ltd (TASE:PHOE) agreed to acquire additional 17% stake in Phoenix Insurance Agency 1989 Ltd. for ILS 763 million. Phoenix Financial Ltd (TASE:PHOE) agreed to acquire additional 17% stake in Phoenix Insurance Agency 1989 Ltd. for ILS 763 million on July 15, 2025. Phoenix Financial will purchase from Phoenix Agencies Chairman Itzik Oz 17% of Phoenix Agencies shares for a total of ILS 763 million, of which ILS 381 million in cash and the remainder in Phoenix Financial shares representing 1.55% of the Company. Oz will continue to serve as Chairman of Phoenix Agencies and a new agreement will be signed with him under which he will receive restricted shares (RSUs) in Phoenix Agencies amounting to ILS 32 million which will vest over 3 years. Oz will lead, as chairman of Phoenix Agencies, the building of future capabilities and leadership of the business.
Transaction completion is subject to regulatory approvals. Annonce • Jul 14
Phoenix Financial Ltd to Report Q2, 2025 Results on Aug 25, 2025 Phoenix Financial Ltd announced that they will report Q2, 2025 results on Aug 25, 2025 Annonce • Jun 27
Phoenix Financial Ltd (TASE:PHOE) and More Investment House Ltd. agreed to acquire 23% stake in IBC Unlimited from Cellcom Israel Ltd. (TASE:CEL) for ILS 520 million. Phoenix Financial Ltd (TASE:PHOE) and More Investment House Ltd. agreed to acquire 23% stake in IBC Unlimited from Cellcom Israel Ltd. (TASE:CEL) for ILS 520 million on June 26, 2025. A cash consideration of ILS 520 million will be paid by Phoenix Financial Ltd and More Investment House Ltd. As part of consideration, ILS 520 million is paid towards common equity of IBC Unlimited. In a related transaction Hot and Israel Infrastructure Fund (IFC) agreed to sell their stake in IBC Unlimited to a group consisting of Phoenix Financial Ltd and More Investment House Ltd. The transaction is subject to approval from the Ministry of Communications and other authorities. The expected cash flow impact on Cellcom's statements will be the amount of the sale proceeds, net of tax. In this way, Cellcom will be able to reduce its net debt, which at the end of the first quarter stood at about ILS 1.6 billion. If the transaction to sell the shares is not completed within 10 months from the date of the agreement, either party may cancel it. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₪89.50, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Insurance industry in Asia. Total returns to shareholders of 186% over the past three years. Price Target Changed • Jun 19
Price target increased by 16% to ₪84.00 Up from ₪72.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₪86.71. The company is forecast to post earnings per share of ₪12.69 for next year compared to ₪7.21 last year. Upcoming Dividend • Jun 05
Upcoming dividend of ₪0.91 per share Eligible shareholders must have bought the stock before 12 June 2025. Payment date: 22 June 2025. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Israeli dividend payers (6.3%). Higher than average of industry peers (3.7%). Reported Earnings • May 29
First quarter 2025 earnings released: EPS: ₪2.20 (vs ₪0.86 in 1Q 2024) First quarter 2025 results: EPS: ₪2.20 (up from ₪0.86 in 1Q 2024). Revenue: ₪4.21b (down 53% from 1Q 2024). Net income: ₪552.8m (up 153% from 1Q 2024). Profit margin: 13% (up from 2.5% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Reported Earnings • Apr 12
Full year 2024 earnings released: EPS: ₪7.21 (vs ₪3.07 in FY 2023) Full year 2024 results: EPS: ₪7.21 (up from ₪3.07 in FY 2023). Revenue: ₪29.5b (up 26% from FY 2023). Net income: ₪1.82b (up 134% from FY 2023). Profit margin: 6.2% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 18
Now 21% undervalued Over the last 90 days, the stock has risen 40% to ₪73.43. The fair value is estimated to be ₪92.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has declined by 26%. Annonce • Mar 17
Phoenix Financial Ltd to Report Q1, 2025 Results on May 29, 2025 Phoenix Financial Ltd announced that they will report Q1, 2025 results on May 29, 2025 Annonce • Feb 14
Flashtalking, Inc. completed the acquisition of Innovid Corp. (NYSE:CTV) from a group of shareholders. Flashtalking, Inc. entered into a definitive agreement to acquire Innovid Corp. (NYSE:CTV) from a group of shareholders for approximately $510 million on November 21, 2024. Flashtalking will acquire Innovid at a price of $3.15 per share of common stock in a transaction with an enterprise value of approximately $500 million, and an equity value of ~$525 million. The sell-side termination fee equates to $17 million. The buy-side termination fee equates to $42 million. Zvika Netter, Chief Executive Officer & Founder of Innovid, will lead the combined ad tech organization as Chief Executive Officer reporting to Bill Wise, Co-Founder & Chief Executive Officer of Mediaocean. Grant Parker, who currently runs Flashtalking, will be President of the combined ad tech organization reporting to Netter. Netter will also join the board of Mediaocean. Funds managed by affiliates of CVC Capital Partners and Charlesbank Capital Partners entered into an equity commitment letter with Mediaocean pursuant to which they have severally committed to provide equity financing in an aggregate amount equal to $47 million. Certain financial institutions have severally committed to provide an affiliate of Mediaocean with a $350 million senior secured first lien term loan facility and a $50 million increase to the existing revolving facility commitments.
The transaction was unanimously approved by Innovid's board of directors. The transaction is subject to the approval of Innovid's shareholders. The transaction is subject to the expiration or termination of any waiting periods applicable to the consummation of the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The shareholders of Innovid approved the transaction at special meeting held on February 11, 2025. The transaction is expected to close in early 2025.
Deutsche Bank Securities Inc. acted as financial advisor to Mediaocean. Oliver Brahmst, Michael A. Deyong and Daniel Kozin of White & Case LLP acted as legal advisor to Mediaocean. Bain & Company and 3C Ventures acted as strategic advisor to Mediaocean. Evercore Group L.L.C. acted as financial advisor and fairness opinion provider to Innovid. Innovid has agreed to pay Evercore a fee for its services in the amount of approximately $8.9 million, of which $1.0 million was paid upon delivery of Evercore’s opinion, and the balance of which will be payable contingent upon consummation of the Merger. Joshua M. Dubofsky, Josh Dubofsky, Eyal Orgad, Eric Kamerman, Adam Kestenbaum, Wesley Lepla, Jessica Cohen, Robert Blamires, Zachary Rowen, Scott Ollivierre, Ruchi Gill and Jana Dammann de Chapto of Latham & Watkins LLP acted as legal advisor to Innovid. Innovid has retained Sodali & Co. to assist in the solicitation of proxies, and provide related advice and informational support during the solicitation process, for a fee of up to $35,000. Continental Stock Transfer & Trust Company acted as Transfer Agent for Innovid.
Flashtalking, Inc. completed the acquisition of Innovid Corp. (NYSE:CTV) from a group of shareholders on February 13, 2025. Annonce • Feb 12
Phoenix Financial Ltd to Report Q4, 2024 Results on Mar 13, 2025 Phoenix Financial Ltd announced that they will report Q4, 2024 results on Mar 13, 2025 Annonce • Jan 30
Phoenix Financial Ltd (TASE:PHOE) announces an Equity Buyback for ILS 100 million worth of its shares. The Phoenix Holdings Ltd. (TASE:PHOE) announces a share repurchase program. Under the program, the company will repurchase up to ILS 100 million of its shares. The repurchase program is financed with a loan and independent sources. The repurchase program will expire on January 31, 2026. Price Target Changed • Jan 22
Price target increased by 20% to ₪62.50 Up from ₪52.00, the current price target is an average from 2 analysts. New target price is 5.4% above last closing price of ₪59.30. The company is forecast to post earnings per share of ₪5.92 for next year compared to ₪3.07 last year. Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: ₪1.89 (vs ₪0.44 in 3Q 2023) Third quarter 2024 results: EPS: ₪1.89 (up from ₪0.44 in 3Q 2023). Revenue: ₪7.67b (up 56% from 3Q 2023). Net income: ₪475.6m (up 323% from 3Q 2023). Profit margin: 6.2% (up from 2.3% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Nov 22
Flashtalking, Inc. entered into a definitive agreement to acquire Innovid Corp. (NYSE:CTV) for approximately $510 million. Flashtalking, Inc. entered into a definitive agreement to acquire Innovid Corp. (NYSE:CTV) for approximately $510 million on November 21, 2024. Flashtalking will acquire Innovid at a price of $3.15 per share of common stock in a transaction with an enterprise value of approximately $500 million, and an equity value of ~$525 million. The sell-side termination fee equates to $17 million. The buy-side termination fee equates to $42 million. Zvika Netter, Chief Executive Officer & Founder of Innovid, will lead the combined ad tech organization as Chief Executive Officer reporting to Bill Wise, Co-Founder & Chief Executive Officer of Mediaocean. Grant Parker, who currently runs Flashtalking, will be President of the combined ad tech organization reporting to Netter. Netter will also join the board of Mediaocean. Funds managed by affiliates of CVC Capital Partners and Charlesbank Capital Partners entered into an equity commitment letter with Mediaocean pursuant to which they have severally committed to provide equity financing in an aggregate amount equal to $47 million. Certain financial institutions have severally committed to provide an affiliate of Mediaocean with a $350 million senior secured first lien term loan facility and a $50 million increase to the existing revolving facility commitments.
The transaction was unanimously approved by Innovid's board of directors. The transaction is subject to the approval of Innovid's shareholders. The transaction is subject to the expiration or termination of any waiting periods applicable to the consummation of the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is expected to close in early 2025.
Deutsche Bank Securities Inc. acted as financial advisor to Mediaocean. Oliver Brahmst, Michael A. Deyong and Daniel Kozin of White & Case LLP acted as legal advisor to Mediaocean. Bain & Company and 3C Ventures acted as strategic advisor to Mediaocean. Evercore Inc. acted as financial advisor to Innovid. Joshua M. Dubofsky, Eyal Orgad and Kyle Adams of Latham & Watkins LLP acted as legal advisor to Innovid. Annonce • Nov 06
Phoenix Financial Ltd to Report Q3, 2024 Results on Nov 27, 2024 Phoenix Financial Ltd announced that they will report Q3, 2024 results on Nov 27, 2024 Annonce • Oct 02
An undisclosed buyer acquired 4.50% stake in Phoenix Financial Ltd (TASE:PHOE) from unknown funds managed by Centerbridge Partners, L.P. and Gallatin Point Capital LLC for approximately ILS 270 million. An undisclosed buyer acquired 4.50% stake in Phoenix Financial Ltd (TASE:PHOE) from unknown funds managed by Centerbridge Partners, L.P. and Gallatin Point Capital LLC for approximately ILS 270 million on October 1, 2024. After the transaction, the two funds will remain with a 10.5% holding in the Phoenix shares.
Jefferies LLC acted as financial advisor for Gallatin Point Capital LLC and Centerbridge Partners, L.P.
An undisclosed buyer completed the acquisition of 4.50% stake in Phoenix Financial Ltd (TASE:PHOE) from unknown funds managed by Centerbridge Partners, L.P. and Gallatin Point Capital LLC on October 1, 2024. Declared Dividend • Aug 26
First half dividend increased to ₪1.07 Dividend of ₪1.07 is 127% higher than last year. Ex-date: 4th September 2024 Payment date: 11th September 2024 Dividend yield will be 5.4%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 24
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₪4.96b (down 37% from 2Q 2023). Net income: ₪417.7m (up ₪359.1m from 2Q 2023). Profit margin: 8.4% (up from 0.7% in 2Q 2023). The increase in margin was driven by lower expenses. Annonce • Aug 23
Phoenix Financial Ltd, Annual General Meeting, Sep 29, 2024 Phoenix Financial Ltd, Annual General Meeting, Sep 29, 2024. Location: co. offices, Israel Price Target Changed • Aug 22
Price target increased by 8.1% to ₪53.50 Up from ₪49.50, the current price target is an average from 2 analysts. New target price is 42% above last closing price of ₪37.63. Stock is up 0.1% over the past year. The company is forecast to post earnings per share of ₪5.09 for next year compared to ₪3.07 last year. Annonce • Aug 08
An undisclosed buyer agreed to acquire 4.90% stake in The Phoenix Holdings Ltd. (TASE:PHOE) from Belenus Lux S.a.r.l. An undisclosed buyer agreed to acquire 4.90% stake in The Phoenix Holdings Ltd. (TASE:PHOE) from Belenus Lux S.a.r.l. on July 18, 2024. Following the transaction, Belenus Lux owns 37.599116 shares representing 14.8086317448% stake in The Phoenix.
An undisclosed buyer completed the acquisition of 4.90% stake in The Phoenix Holdings Ltd. (TASE:PHOE) from Belenus Lux S.a.r.l. on July 18, 2024. Annonce • Aug 05
The Phoenix Holdings Ltd. to Report Q2, 2024 Results on Aug 22, 2024 The Phoenix Holdings Ltd. announced that they will report Q2, 2024 results on Aug 22, 2024 Annonce • Jun 27
The Phoenix Holdings Ltd., Annual General Meeting, Aug 01, 2024 The Phoenix Holdings Ltd., Annual General Meeting, Aug 01, 2024. Location: co. offices, Israel Declared Dividend • Mar 31
Final dividend of ₪1.05 announced Shareholders will receive a dividend of ₪1.05. Ex-date: 3rd April 2024 Payment date: 11th April 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 28
Full year 2023 earnings released Full year 2023 results: Revenue: ₪23.5b (up 207% from FY 2022). Net income: ₪777.4m (down 38% from FY 2022). Profit margin: 3.3% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Annonce • Mar 05
The Phoenix Holdings Ltd. to Report Fiscal Year 2023 Final Results on May 05, 2024 The Phoenix Holdings Ltd. announced that they will report fiscal year 2023 final results on May 05, 2024 Annonce • Mar 04
The Phoenix Holdings Ltd. to Report Q4, 2023 Results on Mar 27, 2024 The Phoenix Holdings Ltd. announced that they will report Q4, 2023 results on Mar 27, 2024 Annonce • Jan 27
The Phoenix Holdings Ltd. (TASE:PHOE) acquired an unknown minority stake in Isracard Ltd. (TASE:ISCD). The Phoenix Holdings Ltd. (TASE:PHOE) acquired an unknown minority stake in Isracard Ltd. (TASE:ISCD) on January 25, 2024.
The Phoenix Holdings Ltd. (TASE:PHOE) completed the acquisition of an unknown minority stake in Isracard Ltd. (TASE:ISCD) on January 25, 2024. Annonce • Jan 23
Phoenix Group Reportedly in Advanced Discussions to Divest 25% Stake in Its Subsidiary, Phoenix Insurance Agencies Israel's The Phoenix Holdings Ltd. (TASE:PHOE) is in advanced discussions to divest a 25% stake in its subsidiary, Phoenix Insurance Agencies, Globes reported. A potential transaction could value the insurance network at between $900 million and $1 billion. The current negotiations are claimed to not involve Jared Kushner's Affinity Fund, which had previously shown interest before talks were suspended last year. Saudi-backed Affinity Fund planned to purchase a share in Phoenix Insurance Agencies, but discussions were halted when the Israeli-Palestinian conflict broke out in October last year. The potential deal, now back on the group's agenda, comes after previous reports in August suggested a higher valuation of up to $1.2 billion. However, despite the slight decrease in expected valuation, the sale is progressing, with two foreign investors in the running. One of these investors is at a very advanced stage of negotiation, Globes reported, citing a source close to the matter. While the identity of the foreign investors has not been disclosed, it is known that they are not from the previously interested parties, which included US-based Blackstone and Reverence Capital Partners, and Searchlight, UK's Pollen Street Capital and Europe's Vitruvian Partners. Phoenix Group has engaged Jefferies Group, an investment bank, to facilitate the search for potential investors. Reported Earnings • Dec 02
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₪4.92b (up 149% from 3Q 2022). Net income: ₪112.5m (down 31% from 3Q 2022). Profit margin: 2.3% (down from 8.2% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Annonce • Nov 17
The Phoenix Holdings Ltd. to Report Q3, 2023 Results on Nov 29, 2023 The Phoenix Holdings Ltd. announced that they will report Q3, 2023 results on Nov 29, 2023 Price Target Changed • Oct 21
Price target increased by 8.6% to ₪50.50 Up from ₪46.50, the current price target is an average from 2 analysts. New target price is 46% above last closing price of ₪34.52. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ₪4.33 for next year compared to ₪5.00 last year. Board Change • Oct 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Rick Kaplan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Aug 17
An unknown buyer acquired a 2% stake in The Phoenix Holdings Ltd. (TASE:PHOE) for approximately ILS 180 million. An unknown buyer acquired a 2% stake in The Phoenix Holdings Ltd. (TASE:PHOE) for approximately ILS 180 million on August 16, 2023. The share price is ILS 36.27 cash per share. An unknown buyer completed the acquisition of a 2% stake in The Phoenix Holdings Ltd. (TASE:PHOE) on August 16, 2023. Annonce • Jul 24
The Phoenix Holdings Ltd. to Report Q2, 2023 Results on Aug 24, 2023 The Phoenix Holdings Ltd. announced that they will report Q2, 2023 results on Aug 24, 2023 Reported Earnings • Jun 03
First quarter 2023 earnings released: ₪0.23 loss per share (vs ₪2.68 profit in 1Q 2022) First quarter 2023 results: ₪0.23 loss per share (down from ₪2.68 profit in 1Q 2022). Revenue: ₪4.22b (up 61% from 1Q 2022). Net loss: ₪57.0m (down 109% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 01
The Phoenix Holdings Ltd., Annual General Meeting, Jul 04, 2023 The Phoenix Holdings Ltd., Annual General Meeting, Jul 04, 2023, at 17:00 Israel Standard Time. Location: 53 HaShalom Street, Giv'atayim, Floor 20 Giv'atayim Israel Agenda: To consider the presentation and discussion of the financial reports and the Company's BOD Report for 2022; to consider reappointment of the Auditing CPA; to consider appointment of Mrs. Stella Amar Cohen as a Director (not external) of the Company; and to consider other matters. Annonce • May 10
The Phoenix Holdings Ltd. to Report Q1, 2023 Results on May 31, 2023 The Phoenix Holdings Ltd. announced that they will report Q1, 2023 results on May 31, 2023 Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: ₪5.00 (vs ₪7.76 in FY 2021) Full year 2022 results: EPS: ₪5.00 (down from ₪7.76 in FY 2021). Revenue: ₪7.91b (down 72% from FY 2021). Net income: ₪1.26b (down 36% from FY 2021). Profit margin: 16% (up from 7.0% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Annonce • Feb 02
The Phoenix Holdings Ltd. (TASE:PHOE) announces an Equity Buyback for ILS 100 million worth of its shares. The Phoenix Holdings Ltd. (TASE:PHOE) announces a share repurchase program. Under the program, the company will repurchase up to ILS 100 million of its shares. The repurchase program is financed with a loan and independent sources. The repurchase program will expire on January 31, 2024. Annonce • Jan 20
The Phoenix Holdings Ltd. (TASE:PHOE) and Excellence Investments Limited entered into an agreement to acquire Asset Management Activities of Psagot Investment. The Phoenix Holdings Ltd. (TASE:PHOE) and Excellence Investments Limited entered into an agreement to acquire Asset Management Activities of Psagot Investment on January 19, 2023. The asset management activities purchased represent ILS 25 billion in assets under management, including passive mutual funds, actively managed mutual funds, and discretionary portfolios. The purchase of Psagot's activities is an additional step in the growth strategy of the Phoenix Investment House and of Phoenix Holdings to expand asset management activities inorganically as well as organically. The acquisition further establishes the Phoenix Investment House as a market leader, expands its capabilities across core activities, and strengthens its value proposition for clients and investment advisors. Annonce • Nov 29
The Phoenix Holdings Ltd. (TASE:PHOE) acquired an additional 6% stake in Mayer's Cars and Trucks Ltd. The Phoenix Holdings Ltd. (TASE:PHOE) acquired an additional 6% stake in Mayer's Cars and Trucks Ltd. on November 29, 2022.The Phoenix Holdings Ltd. (TASE:PHOE) comppleted the acquisition of an additional 6% stake in Mayer's Cars and Trucks Ltd. on November 29, 2022. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Rick Kaplan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Oct 05
The Phoenix Holdings Ltd. (TASE:PHOE) acquired a 14% stake in Mayer's Cars and Trucks Ltd. from Shahar and Kass families for approximately ILS 570 million. The Phoenix Holdings Ltd. (TASE:PHOE) acquired a 14% stake in Mayer's Cars and Trucks Ltd. from Shahar and Kass families for approximately ILS 570 million on October 3, 2022.
The Phoenix Holdings Ltd. (TASE:PHOE) completed the acquisition of a 14% stake in Mayer's Cars and Trucks Ltd. from Shahar and Kass families on October 3, 2022. Buying Opportunity • Sep 01
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be ₪49.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 65%. Annonce • Aug 25
The Phoenix Holdings Ltd. to Report Q2, 2022 Results on Aug 25, 2022 The Phoenix Holdings Ltd. announced that they will report Q2, 2022 results on Aug 25, 2022 Buying Opportunity • Aug 16
Now 21% undervalued Over the last 90 days, the stock is up 7.7%. The fair value is estimated to be ₪49.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 65%. Reported Earnings • Jun 19
First quarter 2022 earnings released: EPS: ₪2.68 (vs ₪1.24 in 1Q 2021) First quarter 2022 results: EPS: ₪2.68 (up from ₪1.24 in 1Q 2021). Revenue: ₪2.63b (down 62% from 1Q 2021). Net income: ₪675.1m (up 114% from 1Q 2021). Profit margin: 26% (up from 4.6% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Annonce • Jun 02
The Phoenix Holdings Ltd. to Report Q1, 2022 Results on May 31, 2022 The Phoenix Holdings Ltd. announced that they will report Q1, 2022 results on May 31, 2022 Buying Opportunity • May 24
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₪45.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 58%. Buying Opportunity • May 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be ₪45.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 58%. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent External Director Zohar Tal is the most experienced director on the board, commencing their role in 2019. Independent External Director Rucha Lavine was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: ₪7.76 (vs ₪4.57 in FY 2020) Full year 2021 results: EPS: ₪7.76 (up from ₪4.57 in FY 2020). Revenue: ₪28.1b (up 68% from FY 2020). Net income: ₪1.96b (up 68% from FY 2020). Profit margin: 7.0% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Annonce • Mar 23
The Phoenix Holdings Ltd. to Report Fiscal Year 2021 Results on Mar 29, 2022 The Phoenix Holdings Ltd. announced that they will report fiscal year 2021 results on Mar 29, 2022 Annonce • Feb 18
The Phoenix Holdings Ltd., Annual General Meeting, May 05, 2022 The Phoenix Holdings Ltd., Annual General Meeting, May 05, 2022. Reported Earnings • Dec 03
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ₪1.63 (up from ₪0.93 in 3Q 2020). Revenue: ₪5.01b (down 17% from 3Q 2020). Net income: ₪423.5m (up 78% from 3Q 2020). Profit margin: 8.4% (up from 4.0% in 3Q 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 20
Price target increased to ₪45.00 Up from ₪39.00, the current price target is provided by 1 analyst. New target price is 23% above last closing price of ₪36.65. Stock is up 136% over the past year. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS ₪2.46 (vs ₪1.75 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₪7.68b (up 16% from 2Q 2020). Net income: ₪612.8m (up 37% from 2Q 2020). Profit margin: 8.0% (up from 6.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS ₪4.57 (vs ₪0.60 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₪16.7b (down 21% from FY 2019). Net income: ₪1.17b (up ₪1.01b from FY 2019). Profit margin: 7.0% (up from 0.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. 
