Thursday, 30th March 2017

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

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Updated: Thu, 16th Feb. 15:59:53

Alexander Bueso

(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 Buys

Bank Of America Corp. (BAC)

Director name: Donofrio,Paul

Amount purchased: 119,599 @ $23.40

Value: $2,798,616.55

Phoenix Group Holdings (di) (PHNX)

Director name: Mayall,Wendy

Amount purchased: 10,000 @ 761.03p

Value: 76,103.00

Maven Income And Growth Vct 6 (MIG6)

Director name: Nixon,William

Amount purchased: 127,637 @ 58.76p

Value: 74,999.50

Xafinity (XAF)

Director name: Brown,Tom Cross

Amount purchased: 35,971 @ 139.00p

Value: 49,999.69

Georgian Mining Corporation Npv (di) (GEO)

Director name: McIllree,Roderick

Amount purchased: 500,000 @ 9.83p

Value: 49,125.00

Xafinity (XAF)

Director name: Bannatyne,Alan

Amount purchased: 32,374 @ 139.00p

Value: 44,999.86

Georgian Mining Corporation Npv (di) (GEO)

Director name: McIllree,Roderick

Amount purchased: 320,000 @ 9.06p

Value: 28,992.00

Upland Resources Limited (di) (UPL)

Director name: Bin Haji Di,Bolhassan

Amount purchased: 2,500,000 @ $0.01

Value: $25,686.36

Benchmark Holdings (BMK)

Director name: Quinn,Kevin

Amount purchased: 25,000 @ 94.04p

Value: 23,510.00

British Empire Trust (BTEM)

Director name: Rich,Nigel Mervyn Sutherland

Amount purchased: 3,000 @ 665.75p

Value: 19,972.50

(RFX)

Director name: Herrick,Simon Edward

Amount purchased: 19,950 @ 100.00p

Value: 19,950.00

World Careers Network (WOR)

Director name: Moore,David

Amount purchased: 10,000 @ 190.00p

Value: 19,000.00

Faroe Petroleum (FPM)

Director name: Stewart,Graham

Amount purchased: 9,905 @ 111.20p

Value: 11,014.36

Georgian Mining Corporation Npv (di) (GEO)

Director name: Kuenzel ACA,Gregory

Amount purchased: 100,000 @ 9.88p

Value: 9,875.00

Faroe Petroleum (FPM)

Director name: Hammer,Helge

Amount purchased: 8,109 @ 111.20p

Value: 9,017.21

Faroe Petroleum (FPM)

Director name: Cooper,Jonathan

Amount purchased: 6,689 @ 111.20p

Value: 7,438.17

Temple Bar Inv Trust (TMPL)

Director name: de Moller,June F

Amount purchased: 38 @ 1,261.25p

Value: 479.28

Johnson Matthey (JMAT)

Director name: Kelleher,Annette

Amount purchased: 12 @ 3,116.08p

Value: 373.93

Johnson Matthey (JMAT)

Director name: Garner,Nicholas

Amount purchased: 12 @ 3,116.08p

Value: 373.93

Johnson Matthey (JMAT)

Director name: MacLeod,Robert

Amount purchased: 12 @ 3,116.08p

Value: 373.93

Johnson Matthey (JMAT)

Director name: Farrant,Simon

Amount purchased: 12 @ 3,116.08p

Value: 373.93

Kingfisher (KGF)

Director name: Witts,Karen

Amount purchased: 46 @ 330.99p

Value: 152.25

Top Director Sells

Cropper (james) (CRPR)

Director name: Willink,Patrick

Amount sold: 5,489 @ $14.30

Value: $64,518.14

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