Phoenix Group Holdings plc (LON:PHNX) Receives Consensus Recommendation of “Buy” from Brokerages

Phoenix Group Holdings plc (LON:PHNX – Get Rating) has received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is GBX 783 ($9.65).

A number of equities analysts have commented on PHNX shares. Morgan Stanley reiterated an “equal weight” rating on shares of Phoenix Group in a report on Thursday, April 14th. Berenberg Bank reiterated a “buy” rating and issued a GBX 815 ($10.05) price objective on shares of Phoenix Group in a report on Tuesday, March 15th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Phoenix Group from GBX 795 ($9.80) to GBX 750 ($9.25) and set a “hold” rating on the stock in a report on Wednesday, March 16th. Barclays cut their target price on shares of Phoenix Group from GBX 804 ($9.91) to GBX 780 ($9.62) and set an “overweight” rating on the stock in a research note on Monday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a GBX 770 ($9.49) target price on shares of Phoenix Group in a research note on Friday, April 1st.

In related news, insider Rakesh Thakrar sold 6,749 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of GBX 642 ($7.92), for a total value of £43,328.58 ($53,419.53). Also, insider Andrew Briggs sold 47,227 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of GBX 645 ($7.95), for a total transaction of £304,614.15 ($375,556.84).

Shares of PHNX stock opened at GBX 616.80 ($7.60) on Friday. Phoenix Group has a 12 month low of GBX 559.20 ($6.89) and a 12 month high of GBX 754.40 ($9.30). The company has a debt-to-equity ratio of 63.88, a current ratio of 0.23 and a quick ratio of 0.08. The firm has a market capitalization of £6.17 billion and a P/E ratio of -7.14. The company’s fifty day moving average price is GBX 618.75 and its two-hundred day moving average price is GBX 641.79.

The company also recently announced a dividend, which was paid on Monday, May 9th. Shareholders of record on Thursday, March 31st were given a GBX 24.80 ($0.31) dividend. This is a boost from Phoenix Group’s previous dividend of $24.10. The ex-dividend date of this dividend was Thursday, March 31st. This represents a yield of 3.96%. Phoenix Group’s dividend payout ratio is -0.56%.

About Phoenix Group (Get Rating)

Phoenix Group Holdings plc engages in the long-term savings and retirement busines in Europe. The company operates through UK Heritage, UK Open, Europe, and Management Services segments. The UK Heritage segment accepts incremental premiums on in-force policies. The UK Open segment offers workplace pensions and self-invested personal pensions products under the SunLife brand.

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