Phoenix Group (LON:PHNX) Price Target Raised to GBX 565 at JPMorgan Chase & Co.

Phoenix Group (LON:PHNX) had its price objective increased by JPMorgan Chase & Co. from GBX 500 ($6.47) to GBX 565 ($7.31) in a research note published on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.41) target price on shares of Phoenix Group in a research note on Monday, February 17th.

Phoenix Group Price Performance

LON:PHNX opened at GBX 571 ($7.39) on Friday. The company has a debt-to-equity ratio of 160.32, a current ratio of 3.30 and a quick ratio of 0.12. The stock has a market cap of £5.71 billion, a P/E ratio of -10.94, a PEG ratio of 1.95 and a beta of 0.73. The company has a fifty day moving average price of GBX 526.05 and a 200 day moving average price of GBX 520.15. Phoenix Group has a one year low of GBX 475 ($6.15) and a one year high of GBX 590 ($7.64).

Phoenix Group (LON:PHNX) last posted its quarterly earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) earnings per share for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. Analysts anticipate that Phoenix Group will post 51.179941 earnings per share for the current year.

Phoenix Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, April 3rd will be given a dividend of GBX 27.35 ($0.35) per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Phoenix Group’s previous dividend of $26.65. This represents a yield of 4.66%. Phoenix Group’s dividend payout ratio is -101.58%.

Insider Activity at Phoenix Group

In other news, insider Andrew Briggs sold 151,586 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.53), for a total transaction of £882,230.52 ($1,141,898.16). 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.