Phoenix Group Holdings (LON:PHNX) Receives GBX 789.75 Average PT from Brokerages

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Shares of Phoenix Group Holdings (LON:PHNX) have received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is GBX 789.75 ($10.32).

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of Phoenix Group from GBX 664 ($8.68) to GBX 657 ($8.58) and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Deutsche Bank restated a “hold” rating on shares of Phoenix Group in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a GBX 820 ($10.71) price target on shares of Phoenix Group in a research report on Friday, August 9th.

In other news, insider Jim McConville sold 34,514 shares of Phoenix Group stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of GBX 696 ($9.09), for a total transaction of £240,217.44 ($313,886.63).

PHNX traded up GBX 21.80 ($0.28) on Friday, reaching GBX 703.10 ($9.19). 885,306 shares of the company traded hands, compared to its average volume of 1,360,000. Phoenix Group has a one year low of GBX 537.50 ($7.02) and a one year high of GBX 735.20 ($9.61). The firm has a fifty day simple moving average of GBX 673.96 and a two-hundred day simple moving average of GBX 689.17. The company has a quick ratio of 0.09, a current ratio of 0.19 and a debt-to-equity ratio of 38.77. The company has a market cap of $5.07 billion and a P/E ratio of 12.08.

Phoenix Group (LON:PHNX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported GBX 3.70 ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of GBX 11.70 ($0.15) by GBX (8) (($0.10)).

The business also recently disclosed a dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of GBX 23.40 ($0.31) per share. This represents a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, August 15th. Phoenix Group’s dividend payout ratio is currently 0.81%.

Phoenix Group Company Profile

Phoenix Group Holdings, a closed life assurance fund consolidator, acquires and manages closed life and pension funds primarily in the United Kingdom. It operates through four segments: UK Heritage, UK Open, Europe, and Management Services. It also provides financing services. The company was formerly known as Pearl Group and changed its name to Phoenix Group Holdings in March 2010.

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Analyst Recommendations for Phoenix Group (LON:PHNX)

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