Phoenix Group (LON:PHNX) Reaches New 12-Month High – What’s Next?

Phoenix Group Holdings plc (LON:PHNX)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 591.50 ($7.89) and last traded at GBX 589.50 ($7.86), with a volume of 6246619 shares trading hands. The stock had previously closed at GBX 581.50 ($7.76).

Analysts Set New Price Targets

Several research firms recently commented on PHNX. Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.67) price target on shares of Phoenix Group in a research report on Monday, February 17th. JPMorgan Chase & Co. boosted their target price on shares of Phoenix Group from GBX 500 ($6.67) to GBX 565 ($7.54) and gave the stock an “underweight” rating in a research report on Friday, March 28th.

Phoenix Group Stock Up 0.3 %

The company has a market capitalization of £5.85 billion, a price-to-earnings ratio of -11.22, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a quick ratio of 0.12, a current ratio of 3.30 and a debt-to-equity ratio of 160.32. The firm has a 50 day moving average price of GBX 543.73 and a two-hundred day moving average price of GBX 520.77.

Phoenix Group (LON:PHNX) last issued its quarterly earnings data on Tuesday, March 18th. The company reported GBX 45.40 ($0.61) earnings per share 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, sell-side analysts expect that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current year.

Phoenix Group Increases Dividend

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

Insider Activity at Phoenix Group

In related news, insider Andrew Briggs sold 151,586 shares of Phoenix Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of GBX 582 ($7.76), for a total value of £882,230.52 ($1,176,778.07). 14.96% of the stock is currently owned by corporate insiders.

About Phoenix Group

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.