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Phoenix Group Holdings

Market Cap

UK£7.3b

Last Updated

2021/05/16 02:30 UTC

Data Sources

Company Financials +

Executive Summary

Phoenix Group Holdings plc engages in the long-term savings and retirement busines in Europe. More Details


Snowflake Analysis

6 star dividend payer with proven track record.


Similar Companies

Share Price & News

How has Phoenix Group Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PHNX is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: PHNX's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

0.05%

PHNX

-1.9%

GB Insurance

-1.2%

GB Market


1 Year Return

27.8%

PHNX

44.8%

GB Insurance

27.6%

GB Market

Return vs Industry: PHNX underperformed the UK Insurance industry which returned 44.8% over the past year.

Return vs Market: PHNX matched the UK Market which returned 27.6% over the past year.


Shareholder returns

PHNXIndustryMarket
7 Day0.05%-1.9%-1.2%
30 Day-3.2%-1.6%0.6%
90 Day2.1%6.3%5.3%
1 Year36.6%27.8%50.8%44.8%33.1%27.6%
3 Year27.4%-6.9%0.9%-16.5%11.1%-1.6%
5 Year60.9%-12.1%40.5%5.2%48.7%20.7%

Long-Term Price Volatility Vs. Market

How volatile is Phoenix Group Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Phoenix Group Holdings undervalued compared to its fair value and its price relative to the market?

8.01x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PHNX (£7.36) is trading above our estimate of fair value (£6)

Significantly Below Fair Value: PHNX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PHNX is good value based on its PE Ratio (8x) compared to the UK Insurance industry average (16.5x).

PE vs Market: PHNX is good value based on its PE Ratio (8x) compared to the UK market (25.6x).


Price to Earnings Growth Ratio

PEG Ratio: PHNX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: PHNX is good value based on its PB Ratio (1x) compared to the GB Insurance industry average (1.3x).


Future Growth

How is Phoenix Group Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-31.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PHNX's earnings are forecast to decline over the next 3 years (-31.9% per year).

Earnings vs Market: PHNX's earnings are forecast to decline over the next 3 years (-31.9% per year).

High Growth Earnings: PHNX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PHNX's revenue is expected to decline over the next 3 years (-42.8% per year).

High Growth Revenue: PHNX's revenue is forecast to decline over the next 3 years (-42.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PHNX's Return on Equity is forecast to be low in 3 years time (6.4%).


Past Performance

How has Phoenix Group Holdings performed over the past 5 years?

48.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PHNX has a large one-off gain of £351.0M impacting its December 31 2020 financial results.

Growing Profit Margin: PHNX's current net profit margins (3.6%) are higher than last year (0.2%).


Past Earnings Growth Analysis

Earnings Trend: PHNX's earnings have grown significantly by 48.5% per year over the past 5 years.

Accelerating Growth: PHNX's earnings growth over the past year (1100.1%) exceeds its 5-year average (48.5% per year).

Earnings vs Industry: PHNX earnings growth over the past year (1100.1%) exceeded the Insurance industry -13%.


Return on Equity

High ROE: PHNX's Return on Equity (10.6%) is considered low.


Financial Health

How is Phoenix Group Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PHNX's short term assets (£39.4B) do not cover its short term liabilities (£197.5B).

Long Term Liabilities: PHNX's short term assets (£39.4B) do not cover its long term liabilities (£129.0B).


Debt to Equity History and Analysis

Debt Level: PHNX's debt to equity ratio (59.3%) is considered high.

Reducing Debt: PHNX's debt to equity ratio has reduced from 106.8% to 59.3% over the past 5 years.

Debt Coverage: PHNX's debt is well covered by operating cash flow (144.8%).

Interest Coverage: PHNX's interest payments on its debt are well covered by EBIT (4.9x coverage).


Balance Sheet


Dividend

What is Phoenix Group Holdings's current dividend yield, its reliability and sustainability?

6.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PHNX's dividend (6.55%) is higher than the bottom 25% of dividend payers in the UK market (1.39%).

High Dividend: PHNX's dividend (6.55%) is in the top 25% of dividend payers in the UK market (4.09%)


Stability and Growth of Payments

Stable Dividend: PHNX's dividends per share have been stable in the past 10 years.

Growing Dividend: PHNX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.7%), PHNX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PHNX's dividends in 3 years are forecast to be covered by earnings (55.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Andy Briggs (54 yo)

1.17yrs

Tenure

UK£1,800,644

Compensation

Mr. Andrew David Briggs, also known as Andy, FIA, has been Group Chief Executive Officer at Phoenix Group Holdings Plc since March 10, 2020. Mr. Briggs served as Director at Aviva Life & Pensions UK Ltd. u...


CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD2.54M) is below average for companies of similar size in the UK market ($USD3.64M).

Compensation vs Earnings: Insufficient data to compare Andy's compensation with company performance.


Leadership Team

Experienced Management: PHNX's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

Experienced Board: PHNX's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PHNX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 38.6%.


Top Shareholders

Company Information

Phoenix Group Holdings plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Phoenix Group Holdings plc
  • Ticker: PHNX
  • Exchange: LSE
  • Founded: 1782
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: UK£7.343b
  • Shares outstanding: 998.29m
  • Website: https://www.thephoenixgroup.com

Number of Employees


Location

  • Phoenix Group Holdings plc
  • Juxon House
  • 100 St Paul’s Churchyard
  • London
  • Greater London
  • EC4M 8BU
  • United Kingdom

Listings


Biography

Phoenix Group Holdings plc engages in the long-term savings and retirement busines in Europe. The company operates through UK Heritage, UK Open, Europe, ReAssure, and Management Services segments. It engag...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/16 02:30
End of Day Share Price2021/05/14 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.