Monday broker round-up
11th Apr 2016 16:20
(ShareCast News) - Phoenix Group: JP Morgan downgrades to neutral with a target price of 942p. Fresnillo: RBC downgrades to underperform with a target price of 750. Jupiter Management: UBS reiterates neutral with a target price of 410p and Jefferies keeps at buy, 472p target. Petrofac: Nomura keep
Read morePhoenix Group hits cash generation target, misses on profit
23rd Mar 2016 07:49
(ShareCast News) - Britain's largest closed-life fund consolidator Phoenix Group Holdings said on Wednesday that profits declined in 2015, though it did meet its cash generation target for the year. The FTSE 250 owner of pension funds closed to new investors reported IFRS operating profit for the ca
Read morePhoenix Group Holdings on track for full year target
22nd Oct 2015 08:27
(ShareCast News) - Phoenix Group Holdings says it is on track to meet its 2015 and long term cash generation target. The FTSE 250 life assurance fund consolidator posted a third quarter update on Thursday. It noted that it has generated £137m of cash in the nine months to 30 September. However it
Read moreLondon pre-open: All eyes on the US Federal Reserve
17th Sep 2015 07:39
(ShareCast News) - All eyes are on the US Federal Reserve ahead of today's open and whether or not it will decide to move on interest rates for the first time since 2006. Economists seem split roughly down the middle but futures markets are far more sceptical, attaching a probability of roughly just
Read morePhoenix Group confirms takeover talks with rival Guardian
17th Sep 2015 07:08
(ShareCast News) - Phoenix Group Holdings has confirmed rumours that it has begun non-exclusive talks about acquiring Guardian Financial Services. The FTSE 250-listed closed life and pension fund consolidator said in a statement Thursday that it was "evaluating" the smaller rival as part of an on-go
Read moreFTSE 250 movers: Hunting, Petrofac, Aldermore, OneSavings Bank
27th Aug 2015 15:57
(ShareCast News) - The oil patch was on fire on Thursday as crude futures jumped on both sides of the Atlantic in the wake a much stronger than expected reading on the rate of growth in US gross domestic product. As of 16:30 front month Brent crude futures were up by 6,14% on the ICE at $45.96 per b
Read morePhoenix Group on track for full-year targets
20th Aug 2015 08:13
(ShareCast News) - Phoenix Group said it remains on track to achieve cash generation targets for the year, although it posted a drop first-half cash generation. The company, which specialises in life funds that are closed to new business, said cash generation came in at £110m, down from £332m in the
Read moreFTSE 250 movers: Commodity prices pull oil stocks down
6th Aug 2015 14:48
(ShareCast News) - London's FTSE 250 fell slightly on Thursday, down 0.25% to 17,731.01 at 1456 BST. Tullow Oil led the fallers, declining 8.67% to 222.20p while fellow oil company Premier Oil was not far behind, falling by 7.81% to 116.80p. The pair suffered at the hands of falling oil prices as a
Read morePhoenix Group on track to meet expectations despite cash generation decline
24th Apr 2015 09:26
Investment group Phoenix Group said it was on track to meet its full-year targets, despite reporting a decline in first quarter cash generation. The FTSE 250 group generated £87m in cash in the first quarter, a 62.9% decline year-on-year, while total holding company cash totalled £1.03bn, up 4.2%.
Read morePhoenix reports jump in profits but waves goodbye to chairman
18th Mar 2015 08:04
UK investment manager Phoenix Group Holdings reported a jump in full year pretax profit on the back of strong performance of its managed funds business. Pretax profit increased to £336m from £268m as revenue, net of reinsurance payable, rose to £5.32bn from £4.22bn and operating expenses increased t
Read moreSector movers: Results from Aviva and Friends Life spark surge among life insurers
5th Mar 2015 14:18
Insurers Aviva and Friends Life Group (FLG) each jumped over 7% on Thursday as investors celebrated the companies' 2014 results ahead of the proposed merger, giving the life insurance sector a big boost in London. The impressive figures also helped to allay fears across the wider sector, showing tha
Read morePhoenix Group confident of cash generation targets for 2014
23rd Oct 2014 08:16
Phoenix Group expects 2014 cash generation to hit the top-end of targets, with chief executive Clive Bannister saying the closed life and pension fund consolidator is "set to finish the year in a good financial position". Cash generation for the first nine months of the year stood at £438m, compared
Read moreTuesday broker round-up
26th Aug 2014 10:16
Bioquell: N+1 Singer upgrades from hold to buy with an unchanged target price of 112p. Investec cuts target price from 133p to 98p, while upgrading from hold to add. Circle Oil: Investec moves target price from 50p to 70p and maintains a buy recommendation. Clinigen Group: N+1 Singer ups target pr
Read moreFriday broker round-up UPDATE
22nd Aug 2014 08:39
Ashtead Group: Berenberg raises target price from 1110p to 1145p maintaining its buy recommendation. Bank of Georgia: Peel Hunt increases target price from 2416p to 2600p and reiterates a hold recommendation. Boot (Henry): Numis upgrades from add to buy with a target price of 254p. Howden Joinery
Read morePhoenix cash, profits, gearing and MCEV ahead of expectations in H1
21st Aug 2014 11:33
Closed life insurer Phoenix Group significantly lifted profits and slashed debt in the first half of 2014 thanks in part to the sale of Ignis to Standard Life. Pre-tax profits soared to £290m compared with £13m in the same period in the prior year. The group, the UK's largest consolidator of speci
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