LSE:PHNX

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Phoenix Group Holdings

Executive Summary

Phoenix Group Holdings plc, a closed life assurance fund consolidator, acquires and manages closed life and pension funds primarily in Europe. More Details


Snowflake Analysis

6 star dividend payer and fair value.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.0%

PHNX

-3.1%

GB Insurance

-1.7%

GB Market


1 Year Return

-2.2%

PHNX

-22.9%

GB Insurance

-14.2%

GB Market

Return vs Industry: PHNX exceeded the UK Insurance industry which returned -22.9% over the past year.

Return vs Market: PHNX exceeded the UK Market which returned -14.2% over the past year.


Shareholder returns

PHNXIndustryMarket
7 Day-2.0%-3.1%-1.7%
30 Day-0.4%-5.1%-1.5%
90 Day4.9%-5.4%-3.9%
1 Year5.2%-2.2%-15.5%-22.9%-10.8%-14.2%
3 Year26.0%-7.8%-20.0%-34.2%-8.8%-20.1%
5 Year49.6%-17.9%0.9%-25.5%15.1%-10.7%

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?

9.48x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PHNX (£6.99) is trading above our estimate of fair value (£6.84)

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 (9.5x) compared to the GB Insurance industry average (14x).

PE vs Market: PHNX is good value based on its PE Ratio (9.5x) compared to the UK market (18.1x).


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 (0.9x) compared to the GB Insurance industry average (1.1x).


Next Steps

Future Growth

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

-37.9%

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 (-37.9% per year).

Earnings vs Market: PHNX's earnings are forecast to decline over the next 3 years (-37.9% 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 (-7.6% per year).

High Growth Revenue: PHNX's revenue is forecast to decline over the next 3 years (-7.6% 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 (7.2%).


Next Steps

Past Performance

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

32.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PHNX has a large one-off loss of £214.0M impacting its June 30 2020 financial results.

Growing Profit Margin: PHNX's current net profit margins (4.5%) are higher than last year (3.3%).


Past Earnings Growth Analysis

Earnings Trend: PHNX's earnings have grown significantly by 32.5% per year over the past 5 years.

Accelerating Growth: PHNX's earnings growth over the past year (28.2%) is below its 5-year average (32.5% per year).

Earnings vs Industry: PHNX earnings growth over the past year (28.2%) exceeded the Insurance industry -7.6%.


Return on Equity

High ROE: PHNX's Return on Equity (9.5%) is considered low.


Next Steps

Financial Health

How is Phoenix Group Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PHNX's short term assets (£31.2B) do not cover its short term liabilities (£129.6B).

Long Term Liabilities: PHNX's short term assets (£31.2B) do not cover its long term liabilities (£109.0B).


Debt to Equity History and Analysis

Debt Level: PHNX's debt to equity ratio (61.6%) is considered high.

Reducing Debt: PHNX's debt to equity ratio has reduced from 133.8% to 61.6% over the past 5 years.

Debt Coverage: PHNX's debt is not well covered by operating cash flow (10.8%).

Interest Coverage: PHNX's interest payments on its debt are well covered by EBIT (6.1x coverage).


Balance Sheet


Next Steps

Dividend

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

6.69%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PHNX's dividend (6.7%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).

High Dividend: PHNX's dividend (6.7%) is in the top 25% of dividend payers in the UK market (5.36%)


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 (63.5%), 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 (74.6% payout ratio).


Next Steps

Management

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

0.6yrs

Average management tenure


CEO

Andy Briggs (54 yo)

0.58

Tenure

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. M ...


Leadership Team

NamePositionTenureCompensationOwnership
Andrew Briggs
Group CEO & Director0.58yrno data0.016%
£ 1.1m
Rakesh Thakrar
Group CFO & Executive Director0.42yrno data0.0016%
£ 113.0k
Antonios Kassimiotis
Group Chief Operating Officer2.58yrsno datano data
Michael Eakins
Chief Investment Officer0.25yrno datano data
Claire Hawkins
Corporate Affairs & Investor Relations Director2.58yrsno datano data
Quentin Zentner
Group General Counsel5.83yrsno data0.0041%
£ 286.7k
Shellie Wells
Head of Corporate Communicationsno datano datano data
Sarah Thompson
Group HR Director0.17yrno datano data
John McGuigan
Group Customer Director2.75yrsno datano data
Jonathan Pears
Group Chief Risk Officer2.75yrsno datano data
Andy Curran
CEO of Savings & Retirement of UK and Europe and Group Director Scotland of Phoenix Group0.25yrno datano data
Matthew Cuhls
Chief Executive Officer of ReAssure0.25yrno datano data

0.6yrs

Average Tenure

53yo

Average Age

Experienced Management: PHNX's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Andrew Briggs
Group CEO & Director0.58yrno data0.016%
£ 1.1m
Rakesh Thakrar
Group CFO & Executive Director0.42yrno data0.0016%
£ 113.0k
Karen Green
Independent Non-Executive Director3.25yrsUK£122.00kno data
Nicholas Stephen Lyons
Chairman of the Board2yrsUK£332.00k0.0066%
£ 461.1k
John Pollock
Independent Non-Executive Director4.08yrsUK£137.00k0.0015%
£ 102.6k
Nicholas Shott
Independent Non-Executive Director4.08yrsUK£110.00k0.0039%
£ 272.8k
Christopher Minter
Non-Executive Director0.25yrno datano data
Belinda Richards
Independent Non-Executive Director3yrsUK£110.00kno data
Michael Tumilty
Non-Executive Director1.08yrsno datano data
Alastair William Barbour
Senior Independent Director2.42yrsUK£160.00k0.00097%
£ 67.7k
Wendy Mayall
Independent Non-Executive Director4.08yrsUK£106.00k0.0040%
£ 279.8k
Kory Sorenson
Independent Non-Executive Director6.25yrsUK£125.00k0.0025%
£ 174.4k

2.7yrs

Average Tenure

57.5yo

Average Age

Experienced Board: PHNX's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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 38.5%.


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£6.976b
  • Shares outstanding: 998.04m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1BFDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2008
PHNXLSE (London Stock Exchange)YesOrdinary SharesGBGBPMar 2008
PNXG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2008
PHNXLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMar 2008
1BFBST (Boerse-Stuttgart)YesOrdinary SharesDEEURMar 2008

Biography

Phoenix Group Holdings plc, a closed life assurance fund consolidator, acquires and manages closed life and pension funds primarily in Europe. It operates through four segments: UK Heritage, UK Open, Europ ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 21:55
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.