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

Key Points

• Phoenix Group Holdings plc reached a new 52-week high at GBX 669 ($8.88) during trading, indicating strong market performance.
• Royal Bank Of Canada downgraded their price target for the company's stock from GBX 725 ($9.63) to GBX 690 ($9.16) while maintaining an "outperform" rating.
• Phoenix Group is the UK's largest long-term savings and retirement business, managing approximately £300 billion in assets and serving around 12 million customers.

Phoenix Group Holdings plc (LON:PHNX - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 669 ($8.94) and last traded at GBX 668 ($8.92), with a volume of 2493695 shares traded. The stock had previously closed at GBX 661 ($8.83).

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut their price objective on shares of Phoenix Group from GBX 725 ($9.68) to GBX 690 ($9.22) and set an "outperform" rating on the stock in a research note on Thursday, July 24th.

Phoenix Group Stock Performance

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 50 day moving average of GBX 651.83 and a 200-day moving average of GBX 587.82. The stock has a market capitalization of £6.79 billion, a PE ratio of -13.01, a P/E/G ratio of 1.95 and a beta of 0.73.

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.