Phoenix Group (LON:PHNX) Price Target Raised to GBX 565

Phoenix Group (LON:PHNX) had its price objective hoisted by JPMorgan Chase & Co. from GBX 500 ($6.46) to GBX 565 ($7.31) in a research report released on Friday morning, Marketbeat reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.40) target price on shares of Phoenix Group in a research note on Monday, February 17th.

Phoenix Group Stock Down 0.6 %

PHNX opened at GBX 571 ($7.38) on Friday. The company has a market cap of £5.71 billion, a PE ratio of -10.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. Phoenix Group has a twelve month low of GBX 475 ($6.14) and a twelve month high of GBX 590 ($7.63). The company has a 50-day moving average price of GBX 526.05 and a 200 day moving average price of GBX 519.81. 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 quarterly earnings data on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) EPS for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. Sell-side analysts expect that Phoenix Group 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 Wednesday, May 21st. Shareholders of record on Thursday, April 3rd will be paid a dividend of GBX 27.35 ($0.35) per share. The ex-dividend date is Thursday, April 3rd. This is an increase from Phoenix Group’s previous dividend of $26.65. This represents a yield of 4.66%. Phoenix Group’s payout ratio is -101.58%.

Insider Activity

In related news, insider Andrew Briggs sold 151,586 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.53), for a total value of £882,230.52 ($1,140,716.99). Corporate insiders own 14.96% of the company’s stock.

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.