Phoenix Group (LON:PHNX) Sets New 52-Week High - Here's What Happened

Phoenix Group Holdings plc (LON:PHNX - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 591.50 ($7.87) and last traded at GBX 589.50 ($7.84), with a volume of 6246619 shares changing hands. The stock had previously closed at GBX 581.50 ($7.73).

Wall Street Analyst Weigh In

PHNX has been the topic of several research analyst reports. Berenberg Bank reissued a "buy" rating and issued a GBX 650 ($8.64) price objective on shares of Phoenix Group in a research report on Monday, February 17th. JPMorgan Chase & Co. raised their price objective on shares of Phoenix Group from GBX 500 ($6.65) to GBX 565 ($7.51) and gave the stock an "underweight" rating in a report on Friday, March 28th.

Phoenix Group Price Performance

The firm has a 50 day moving average price of GBX 545.31 and a two-hundred day moving average price of GBX 521.22. The company has a market cap of £5.91 billion, a P/E ratio of -11.33, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 160.32, a quick ratio of 0.12 and a current ratio of 3.30.

Phoenix Group (LON:PHNX - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported GBX 45.40 ($0.60) EPS for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. On average, analysts predict that Phoenix Group Holdings plc will post 51.179941 EPS for the current fiscal year.

Phoenix Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, April 24th will be paid a dividend of GBX 27.35 ($0.36) per share. The ex-dividend date is Thursday, April 24th. This represents a yield of 4.66%. This is a boost from Phoenix Group's previous dividend of $26.65. Phoenix Group's payout ratio is currently -101.58%.

Insiders Place Their Bets

In related news, insider Andrew Briggs sold 151,586 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.74), for a total value of £882,230.52 ($1,173,334.91). 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.