Phoenix Group (LON:PHNX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Phoenix Group Holdings plc (LON:PHNX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 519.79 ($6.71) and traded as high as GBX 547 ($7.06). Phoenix Group shares last traded at GBX 542.66 ($7.00), with a volume of 294,662,563 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PHNX shares. JPMorgan Chase & Co. raised their price target on shares of Phoenix Group from GBX 500 ($6.45) to GBX 565 ($7.29) and gave the company an “underweight” rating in a research note on Friday, March 28th. Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.38) target price on shares of Phoenix Group in a research report on Monday, February 17th.

Phoenix Group Trading Up 0.0 %

The company has a debt-to-equity ratio of 160.32, a quick ratio of 0.12 and a current ratio of 3.30. The firm has a market cap of £5.43 billion, a price-to-earnings ratio of -10.40, a PEG ratio of 1.95 and a beta of 0.73. The business has a fifty day simple moving average of GBX 531.60 and a 200-day simple moving average of GBX 519.79.

Phoenix Group (LON:PHNX) last released its quarterly earnings data on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) earnings per share (EPS) for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. As a group, equities analysts forecast that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current fiscal year.

Phoenix Group Increases Dividend

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

Insider Buying and Selling

In related 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 ($7.51), for a total value of £882,230.52 ($1,138,068.27). 14.96% of the stock is currently owned by insiders.

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.