Phoenix Group (LON:PHNX) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Phoenix Group's stock price has risen above its 200-day moving average, trading at GBX 680 ($9.17) with a recent high of GBX 686.50 ($9.26).
• The Royal Bank of Canada has lowered its price target for Phoenix Group from GBX 725 to GBX 690, maintaining an "outperform" rating.
• Despite a high debt-to-equity ratio of 160.32, Phoenix Group remains a significant player in the UK market, managing approximately £300 billion in assets.

Phoenix Group Holdings plc (LON:PHNX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 599.16 ($8.06) and traded as high as GBX 686.50 ($9.24). Phoenix Group shares last traded at GBX 680 ($9.15), with a volume of 1,397,861 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada decreased their target price on Phoenix Group from GBX 725 to GBX 690 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of GBX 635.

Phoenix Group Stock Performance

The stock has a 50 day moving average of GBX 662.20 and a 200 day moving average of GBX 604.72. The company has a quick ratio of 0.12, a current ratio of 3.30 and a debt-to-equity ratio of 160.32. The company has a market capitalization of £6.94 billion, a price-to-earnings ratio of -13.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

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.