JPMorgan Chase & Co. Issues Positive Forecast for Phoenix Group (LON:PHNX) Stock Price

Phoenix Group (LON:PHNX) had its price target raised by JPMorgan Chase & Co. from GBX 500 ($6.46) to GBX 565 ($7.31) in a report issued on Friday, MarketBeat.com reports. The firm currently has an underweight rating on the stock.

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.40) price target on shares of Phoenix Group in a report on Monday, February 17th.

Phoenix Group Price Performance

Shares of PHNX opened at GBX 571 ($7.38) on Friday. The firm has a market capitalization of £5.71 billion, a price-to-earnings ratio of -10.94, a PEG ratio of 1.95 and a beta of 0.73. The firm’s fifty day simple moving average is GBX 526.05 and its 200-day simple moving average is GBX 519.81. Phoenix Group has a twelve month low of GBX 475 ($6.14) and a twelve month high of GBX 590 ($7.63). The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32.

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 return on equity of 21.76% and a negative net margin of 2.10%. Equities analysts forecast that Phoenix Group will post 51.179941 EPS for the current fiscal year.

Phoenix Group Increases Dividend

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

Insiders Place Their Bets

In other news, insider Andrew Briggs sold 151,586 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of GBX 582 ($7.53), for a total value of £882,230.52 ($1,140,716.99). Corporate 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.