Phoenix Group (LON:PHNX) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Phoenix Group's share price has surpassed its 200-day moving average, reaching GBX 687 ($9.23) during trading.
• Royal Bank of Canada lowered its price objective for Phoenix Group from GBX 725 ($9.74) to GBX 690 ($9.27) while maintaining an "outperform" rating.
• The company boasts a market capitalization of £6.88 billion and administers approximately £300 billion in assets, making it the UK's largest long-term savings and retirement business.

Shares of Phoenix Group Holdings plc (LON:PHNX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 592.66 ($8.02) and traded as high as GBX 687.50 ($9.30). Phoenix Group shares last traded at GBX 687 ($9.30), with a volume of 1,372,009 shares.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada decreased their target price on Phoenix Group from GBX 725 ($9.81) to GBX 690 ($9.34) and set an "outperform" rating for the company in a research report on Thursday, July 24th.

Phoenix Group Price Performance

The firm has a market capitalization of £6.94 billion, a P/E ratio of -13.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The business has a 50-day moving average of GBX 656.18 and a 200 day moving average of GBX 593.95. 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 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.