Phoenix Group (LON:PHNX) Sets New 12-Month High - Here's What Happened

Key Points

• Phoenix Group Holdings plc's share price recently reached a new 52-week high of GBX 690 ($9.27) during trading, closing slightly lower at GBX 689.50 ($9.26).
• Royal Bank of Canada has lowered its price target for Phoenix Group from GBX 725 ($9.74) to GBX 690 ($9.27) but maintains an "outperform" rating on the stock.
• The company, which manages around £300 billion in assets and serves approximately 12 million customers, operates with a significant debt-to-equity ratio of 160.32 and a market capitalization of £6.90 billion.

Shares of Phoenix Group Holdings plc (LON:PHNX - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as GBX 690 ($9.35) and last traded at GBX 689.50 ($9.35), with a volume of 5431642 shares. The stock had previously closed at GBX 687 ($9.31).

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada dropped their price objective on shares of Phoenix Group from GBX 725 ($9.83) to GBX 690 ($9.35) and set an "outperform" rating on the stock in a report on Thursday, July 24th.

Phoenix Group Stock Down 0.9%

The stock's 50-day moving average is GBX 657.99 and its 200-day moving average is GBX 596.40. The stock has a market cap of £6.90 billion, a P/E ratio of -13.22, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32.

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.