Phoenix Group (LON:PHNX) Reaches New 12-Month High After Dividend Announcement

Phoenix Group Holdings plc (LON:PHNX)’s stock price hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as GBX 582.50 ($7.58) and last traded at GBX 578.50 ($7.53), with a volume of 16006652 shares. The stock had previously closed at GBX 580 ($7.55).

The newly announced dividend which will be paid on Wednesday, May 21st. Investors of record on Thursday, April 3rd will be paid a GBX 27.35 ($0.36) dividend. This is a boost from Phoenix Group’s previous dividend of $26.65. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 4.66%. Phoenix Group’s payout ratio is presently -101.58%.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.46) target price on shares of Phoenix Group in a report on Monday, February 17th.

Phoenix Group Trading Down 0.9 %

The company has a fifty day moving average of GBX 514.20 and a two-hundred day moving average of GBX 519.35. The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32. The stock has a market capitalization of £5.82 billion, a price-to-earnings ratio of -11.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

Phoenix Group (LON:PHNX) last posted its 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 return on equity of 21.76% and a negative net margin of 2.10%. On average, research analysts expect that Phoenix Group Holdings plc will post 51.179941 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of GBX 582 ($7.57), for a total transaction of £882,230.52 ($1,147,691.58). Corporate insiders own 14.96% of the company’s stock.

Phoenix Group Company Profile

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.