Phoenix Group (PHNX) Receives “Hold” Rating from Deutsche Bank

Deutsche Bank restated their hold rating on shares of Phoenix Group (LON:PHNX) in a research report report published on Monday, ThisIsMoney.Co.Uk reports.

Several other analysts have also commented on PHNX. Shore Capital reissued an under review rating on shares of Phoenix Group in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of Phoenix Group from GBX 814 ($10.64) to GBX 857 ($11.20) and gave the company an overweight rating in a research report on Wednesday, March 6th. Royal Bank of Canada reissued an outperform rating on shares of Phoenix Group in a research report on Thursday, March 7th. HSBC increased their price target on shares of Phoenix Group from GBX 760 ($9.93) to GBX 825 ($10.78) and gave the company a buy rating in a research report on Thursday, March 7th. Finally, Barclays increased their price target on shares of Phoenix Group from GBX 680 ($8.89) to GBX 694 ($9.07) and gave the company an equal weight rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Phoenix Group presently has an average rating of Buy and a consensus price target of GBX 781.83 ($10.22).

Shares of Phoenix Group stock opened at GBX 691.30 ($9.03) on Monday. The company has a current ratio of 0.17, a quick ratio of 0.04 and a debt-to-equity ratio of 48.43. Phoenix Group has a 1 year low of GBX 537.50 ($7.02) and a 1 year high of GBX 735.20 ($9.61). The stock has a market cap of $4.98 billion and a price-to-earnings ratio of 10.38.

The company also recently declared a dividend, which was paid on Tuesday, May 7th. Shareholders of record on Thursday, March 21st were given a dividend of GBX 23.40 ($0.31) per share. This represents a dividend yield of 3.27%. This is a positive change from Phoenix Group’s previous dividend of $22.60. The ex-dividend date was Thursday, March 21st. Phoenix Group’s dividend payout ratio is presently 0.71%.

In other news, insider Kory Sorenson purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of GBX 656 ($8.57) per share, with a total value of £32,800 ($42,859.01).

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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