Directors dealings: Phoenix Group buys in near five-year highs

16th Feb 2017 15:59

(ShareCast News) - Phoenix Group non-executive director Wendy Mayall bought into the company's shares roughly a month after the life insurance fund consolidator said it hit its 2016 target for cash regeneration of £486.0m.The firm also expected to make at least £250m from the integration of the AXA businesses within six months of completion of the acquisition.Mayall purchased 10,000 shares on 14 February at an individual price of 761.0p.A fortnight earlier, on 30 January, analysts at Deutsche Bank bumped up their recommendation on the stock to 'buy' and set a target price of 835p."Phoenix has finally emerged from seven years of balance sheet recovery with the announcement of two acquisitions in 2016. We think investors are under-estimating the rapid improvement in solvency and debt capacity over 2017e-2018e. Specifically, we think a hypothetical £1.0bn - £1.5bn acquisition could be funded principally out of cash and debt rather than equity, adding either side of 25% to future value - something that in our view is not sufficiently reflected in the current share price," said analyst Oliver Steel.Shares in the fund consolidator were then trading not far off their 52-week highs and from their best levels of the past five years.Top Director BuysBank Of America Corp. (BAC)Director name: Donofrio,Paul Amount purchased: 119,599 @ $23.40Value: $2,798,616.55Phoenix Group Holdings (di) (PHNX)Director name: Mayall,WendyAmount purchased: 10,000 @ 761.03pValue: £76,103.00Maven Income And Growth Vct 6 (MIG6)Director name: Nixon,WilliamAmount purchased: 127,637 @ 58.76pValue: £74,999.50Xafinity (XAF)Director name: Brown,Tom CrossAmount purchased: 35,971 @ 139.00pValue: £49,999.69Georgian Mining Corporation Npv (di) (GEO)Director name: McIllree,RoderickAmount purchased: 500,000 @ 9.83pValue: £49,125.00Xafinity (XAF)Director name: Bannatyne,AlanAmount purchased: 32,374 @ 139.00pValue: £44,999.86Georgian Mining Corporation Npv (di) (GEO)Director name: McIllree,RoderickAmount purchased: 320,000 @ 9.06pValue: £28,992.00Upland Resources Limited (di) (UPL)Director name: Bin Haji Di,Bolhassan Amount purchased: 2,500,000 @ $0.01Value: $25,686.36Benchmark Holdings (BMK)Director name: Quinn,KevinAmount purchased: 25,000 @ 94.04pValue: £23,510.00British Empire Trust (BTEM)Director name: Rich,Nigel Mervyn SutherlandAmount purchased: 3,000 @ 665.75pValue: £19,972.50 (RFX)Director name: Herrick,Simon EdwardAmount purchased: 19,950 @ 100.00pValue: £19,950.00World Careers Network (WOR)Director name: Moore,DavidAmount purchased: 10,000 @ 190.00pValue: £19,000.00Faroe Petroleum (FPM)Director name: Stewart,GrahamAmount purchased: 9,905 @ 111.20pValue: £11,014.36Georgian Mining Corporation Npv (di) (GEO)Director name: Kuenzel ACA,GregoryAmount purchased: 100,000 @ 9.88pValue: £9,875.00Faroe Petroleum (FPM)Director name: Hammer,HelgeAmount purchased: 8,109 @ 111.20pValue: £9,017.21Faroe Petroleum (FPM)Director name: Cooper,JonathanAmount purchased: 6,689 @ 111.20pValue: £7,438.17Temple Bar Inv Trust (TMPL)Director name: de Moller,June FAmount purchased: 38 @ 1,261.25pValue: £479.28Johnson Matthey (JMAT)Director name: Kelleher,AnnetteAmount purchased: 12 @ 3,116.08pValue: £373.93Johnson Matthey (JMAT)Director name: Garner,Nicholas Amount purchased: 12 @ 3,116.08pValue: £373.93Johnson Matthey (JMAT)Director name: MacLeod,RobertAmount purchased: 12 @ 3,116.08pValue: £373.93Johnson Matthey (JMAT)Director name: Farrant,SimonAmount purchased: 12 @ 3,116.08pValue: £373.93Kingfisher (KGF)Director name: Witts,KarenAmount purchased: 46 @ 330.99pValue: £152.25Top Director SellsCropper (james) (CRPR)Director name: Willink,PatrickAmount sold: 5,489 @ $14.30Value: $64,518.14