Phoenix Group Holdings plc (LON:PHNX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Phoenix Group Holdings plc (LON:PHNXGet Rating) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is GBX 783 ($9.65).

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an “equal weight” rating on shares of Phoenix Group in a research note on Thursday, April 14th. JPMorgan Chase & Co. raised shares of Phoenix Group to an “overweight” rating and set a GBX 800 ($9.86) price target on the stock in a research report on Thursday, March 31st. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 815 ($10.05) price objective on shares of Phoenix Group in a report on Tuesday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a GBX 770 ($9.49) target price on shares of Phoenix Group in a report on Friday, April 1st. Finally, Barclays dropped their target price on Phoenix Group from GBX 804 ($9.91) to GBX 780 ($9.62) and set an “overweight” rating on the stock in a research report on Monday, April 4th.

Shares of PHNX traded down GBX 15.20 ($0.19) during mid-day trading on Friday, hitting GBX 620.40 ($7.65). The stock had a trading volume of 3,327,244 shares, compared to its average volume of 3,177,253. Phoenix Group has a 52 week low of GBX 559.20 ($6.89) and a 52 week high of GBX 754.40 ($9.30). The company has a debt-to-equity ratio of 63.88, a current ratio of 0.23 and a quick ratio of 0.08. The business has a fifty day moving average price of GBX 619.67 and a 200-day moving average price of GBX 641.59. The firm has a market cap of £6.20 billion and a P/E ratio of -7.32.

The company also recently announced a dividend, which was paid on Monday, May 9th. Investors of record on Thursday, March 31st were issued a dividend of GBX 24.80 ($0.31) per share. This represents a yield of 3.96%. The ex-dividend date of this dividend was Thursday, March 31st. This is a positive change from Phoenix Group’s previous dividend of $24.10. Phoenix Group’s dividend payout ratio is -0.56%.

In related news, insider Rakesh Thakrar sold 6,749 shares of the firm’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of GBX 642 ($7.91), for a total value of £43,328.58 ($53,412.94). Also, insider Nicholas Shott purchased 1,784 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was bought at an average cost of GBX 626 ($7.72) per share, with a total value of £11,167.84 ($13,767.06).

About Phoenix Group (Get Rating)

Phoenix Group Holdings plc engages in the long-term savings and retirement busines in Europe. The company operates through UK Heritage, UK Open, Europe, and Management Services segments. The UK Heritage segment accepts incremental premiums on in-force policies. The UK Open segment offers workplace pensions and self-invested personal pensions products under the SunLife brand.

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Analyst Recommendations for Phoenix Group (LON:PHNX)

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