Phoenix Group (LON:PHNX) Hits New 12-Month High – Here’s Why

Phoenix Group Holdings plc (LON:PHNX) reached a new 52-week high on Monday . The stock traded as high as GBX 621 ($8.26) and last traded at GBX 613.50 ($8.16), with a volume of 7517660 shares. The stock had previously closed at GBX 604.38 ($8.04).

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PHNX shares. JPMorgan Chase & Co. raised their price target on Phoenix Group from GBX 500 ($6.65) to GBX 565 ($7.52) and gave the company an “underweight” rating in a report on Friday, March 28th. Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.65) price objective on shares of Phoenix Group in a report on Monday, February 17th.

Phoenix Group Trading Up 0.6%

The business has a 50 day moving average of GBX 566.42 and a 200 day moving average of GBX 527.90. The firm has a market capitalization of £6.06 billion, a price-to-earnings ratio of -11.61, a PEG ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 160.32, a current ratio of 3.30 and a quick ratio of 0.12.

Phoenix Group (LON:PHNX) last issued its earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.60) earnings per share (EPS) for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. As a group, research analysts predict that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current fiscal year.

Phoenix Group Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, April 24th will be issued a GBX 27.35 ($0.36) dividend. The ex-dividend date of this dividend is Thursday, April 24th. This is a positive change from Phoenix Group’s previous dividend of $26.65. This represents a yield of 4.66%. Phoenix Group’s dividend payout ratio (DPR) is -101.58%.

Insider Transactions at Phoenix Group

In other Phoenix Group news, insider Andrew Briggs sold 151,586 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.75), for a total transaction of £882,230.52 ($1,174,115.68). Insiders own 14.96% of the company’s stock.

Phoenix Group Company Profile

Phoenix is the UK’s largest long-term savings and retirement business with c. £300 billion of assets under administration and c. 12 million customers.
We are a constituent of the FTSE 100 with c. 7,800 colleagues and offer a broad range of products to support people across all stages of the savings life cycle.
We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.