Phoenix Group (LON:PHNX) Reaches New 52-Week High – Here’s Why

Shares of Phoenix Group Holdings plc (LON:PHNX) hit a new 52-week high during trading on Friday . The company traded as high as GBX 774.50 and last traded at GBX 774.50, with a volume of 6001339 shares trading hands. The stock had previously closed at GBX 766.50.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHNX. The Goldman Sachs Group upgraded Phoenix Group to a “neutral” rating and boosted their price objective for the company from GBX 593 to GBX 752 in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of Phoenix Group from GBX 605 to GBX 620 and gave the company an “underweight” rating in a report on Thursday, February 5th. Berenberg Bank upped their price target on shares of Phoenix Group from GBX 852 to GBX 918 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, UBS Group upgraded shares of Phoenix Group to a “buy” rating and lifted their price objective for the company from GBX 670 to GBX 770 in a research report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 750.

Phoenix Group Stock Performance

The stock has a market cap of £7.73 billion, a price-to-earnings ratio of -12.17, a PEG ratio of 1.95 and a beta of 0.73. The company’s 50 day simple moving average is GBX 741.62 and its 200 day simple moving average is GBX 696.02. The company has a debt-to-equity ratio of 160.32, a quick ratio of 0.12 and a current ratio of 3.30.

Phoenix Group (LON:PHNX) last posted its quarterly earnings data on Monday, December 15th. The company reported GBX 32.70 earnings per share (EPS) for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. On average, equities research analysts anticipate that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current year.

About Phoenix Group

Phoenix Group is one of the UK’s largest long-term savings and retirement businesses with over £290 billion of assets under administration and c. 12 million customers. We were founded in 1782 and are based in London, UK, and our family of brands include Standard Life, SunLife and ReAssure. We are a constituent of the FTSE 100 with c. 6,600 colleagues and offer a broad range of savings and retirement income products to support people across all stages of their savings journey. We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.