Phoenix Group (LON:PHNX) Sets New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

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

Phoenix Group Stock Up 0.6%

The business has a 50-day moving average price of GBX 566.42 and a 200-day moving average price of GBX 527.90. The company has a market capitalization of £6.06 billion, a price-to-earnings ratio of -11.61, a price-to-earnings-growth 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.

Phoenix Group (LON:PHNX) last posted its earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.60) 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, equities analysts anticipate 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 disclosed a dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, April 24th will be given a GBX 27.35 ($0.36) dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a dividend yield of 4.66%. This is an increase from Phoenix Group’s previous dividend of $26.65. Phoenix Group’s dividend payout ratio (DPR) is currently -101.58%.

Insider Activity at Phoenix Group

In other news, insider Andrew Briggs sold 151,586 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of GBX 582 ($7.75), for a total value of £882,230.52 ($1,174,115.68). 14.96% of the stock is currently owned by insiders.

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.