Phoenix Group (LON:PHNX) Given New GBX 650 Price Target at Berenberg Bank

Phoenix Group (LON:PHNX - Free Report) had its price target decreased by Berenberg Bank from GBX 739 ($9.13) to GBX 650 ($8.03) in a research note released on Friday, Marketbeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. raised their price target on shares of Phoenix Group from GBX 445 ($5.50) to GBX 525 ($6.48) and gave the company an underweight rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of GBX 614.60 ($7.59).

Phoenix Group Stock Up 1.3 %

Shares of PHNX traded up GBX 6.20 ($0.08) during trading hours on Friday, reaching GBX 487.40 ($6.02). 2,355,684 shares of the stock traded hands, compared to its average volume of 2,587,259. The company has a current ratio of 0.19, a quick ratio of 0.12 and a debt-to-equity ratio of 176.72. The stock has a fifty day simple moving average of GBX 511.21 and a 200 day simple moving average of GBX 498.16. Phoenix Group has a 52 week low of GBX 436.40 ($5.39) and a 52 week high of GBX 614.20 ($7.59). The company has a market cap of £4.87 billion, a price-to-earnings ratio of -3,481.43, a PEG ratio of 1.95 and a beta of 0.74.

Phoenix Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Thursday, April 11th will be given a GBX 26.65 ($0.33) dividend. This is a positive change from Phoenix Group's previous dividend of $26.00. The ex-dividend date is Thursday, April 11th. This represents a yield of 5.46%. Phoenix Group's payout ratio is currently -37,857.14%.

Insiders Place Their Bets

In other news, insider Rakesh Thakrar sold 16,296 shares of Phoenix Group stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of GBX 553 ($6.83), for a total value of £90,116.88 ($111,310.38). In related news, insider Andrew Briggs sold 40,039 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of GBX 526 ($6.50), for a total transaction of £210,605.14 ($260,134.81). Also, insider Rakesh Thakrar sold 16,296 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of GBX 553 ($6.83), for a total transaction of £90,116.88 ($111,310.38). Insiders own 14.90% of the company's stock.

Phoenix Group Company Profile

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.