Phoenix Group (LON:PHNX) Price Target Raised to GBX 525

Phoenix Group (LON:PHNXFree Report) had its price target hoisted by JPMorgan Chase & Co. from GBX 445 ($5.63) to GBX 525 ($6.64) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has an underweight rating on the stock.

Phoenix Group Stock Performance

LON:PHNX opened at GBX 503.50 ($6.37) on Wednesday. The company has a market cap of £5.04 billion, a price-to-earnings ratio of -3,596.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.74. The company has a quick ratio of 0.12, a current ratio of 0.19 and a debt-to-equity ratio of 176.72. Phoenix Group has a 52 week low of GBX 436.40 ($5.52) and a 52 week high of GBX 614.20 ($7.77). The company has a fifty day simple moving average of GBX 512.37 and a two-hundred day simple moving average of GBX 497.90.

Phoenix Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Thursday, April 11th will be paid a GBX 26.65 ($0.34) dividend. This represents a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from Phoenix Group’s previous dividend of $26.00. Phoenix Group’s dividend payout ratio (DPR) is presently -37,857.14%.

Insider Buying and Selling

In other news, insider Rakesh Thakrar sold 16,296 shares of Phoenix Group stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of GBX 553 ($7.00), for a total transaction of £90,116.88 ($114,057.56). In other news, insider Andrew Briggs sold 40,039 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of GBX 526 ($6.66), for a total value of £210,605.14 ($266,555.04). Also, insider Rakesh Thakrar sold 16,296 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of GBX 553 ($7.00), for a total value of £90,116.88 ($114,057.56). Insiders own 14.90% of the company’s stock.

Phoenix Group Company Profile

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Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through five segments: Retirement Solutions, Pensions & Savings, With-Profits, SunLife & Protection, and Europe & Other. It provides a range of savings and retirement income products to support people across various stages of the savings life cycle.

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Analyst Recommendations for Phoenix Group (LON:PHNX)

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