Berenberg Bank Trims Phoenix Group (LON:PHNX) Target Price to GBX 650

Phoenix Group (LON:PHNX) had its target price decreased by Berenberg Bank from GBX 739 ($9.13) to GBX 650 ($8.03) in a report issued on Friday morning, Marketbeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. lifted their price objective on Phoenix Group from GBX 445 ($5.50) to GBX 525 ($6.48) and gave the company an underweight rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phoenix Group currently has a consensus rating of Hold and an average price target of GBX 614.60 ($7.59).

Phoenix Group Price Performance

Phoenix Group stock opened at GBX 487.40 ($6.02) on Friday. Phoenix Group has a one year low of GBX 436.40 ($5.39) and a one year high of GBX 614.20 ($7.59). The business has a fifty day moving average price of GBX 511.21 and a 200-day moving average price of GBX 498.16. The company has a debt-to-equity ratio of 176.72, a current ratio of 0.19 and a quick ratio of 0.12. The firm has a market capitalization of £4.87 billion, a P/E ratio of -3,481.43, a PEG ratio of 1.95 and a beta of 0.74.

Phoenix Group Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Thursday, April 11th will be issued a GBX 26.65 ($0.33) dividend. This is a boost from Phoenix Group’s previous dividend of $26.00. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 5.46%. Phoenix Group’s dividend payout ratio (DPR) is currently -37,857.14%.

Insider Buying and Selling

In related news, insider Andrew Briggs sold 40,039 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of GBX 526 ($6.50), for a total value of £210,605.14 ($260,134.81). In other Phoenix Group news, insider Rakesh Thakrar sold 16,296 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of GBX 553 ($6.83), for a total transaction of £90,116.88 ($111,310.38). Also, insider Andrew Briggs sold 40,039 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of GBX 526 ($6.50), for a total value of £210,605.14 ($260,134.81). 14.90% of the stock is currently owned by insiders.

About Phoenix Group

Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through five segments: Retirement Solutions, Pensions & Savings, With-Profits, SunLife & Protection, and Europe & Other. It provides a range of savings and retirement income products to support people across various stages of the savings life cycle.