Phoenix Group (LON:PHNX) Shares Cross Above 200 Day Moving Average – Here’s Why

Phoenix Group Holdings plc (LON:PHNX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 724.38 and traded as high as GBX 774.50. Phoenix Group shares last traded at GBX 767, with a volume of 2,361,801 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PHNX shares. JPMorgan Chase & Co. raised their price objective on Phoenix Group from GBX 605 to GBX 620 and gave the company an “underweight” rating in a research report on Thursday, February 5th. The Goldman Sachs Group upgraded Phoenix Group to a “neutral” rating and increased their price target for the company from GBX 593 to GBX 752 in a research note on Wednesday, January 21st. Finally, Berenberg Bank raised their price target on Phoenix Group from GBX 852 to GBX 918 and gave the company a “buy” rating in a report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 750.

Phoenix Group Trading Up 0.1%

The stock has a market cap of £7.68 billion, a P/E ratio of -12.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The stock has a 50 day simple moving average of GBX 763.93 and a 200 day simple moving average of GBX 724.38.

About Phoenix Group

Phoenix Group is one of the UK’s largest long-term savings and retirement businesses with over £290 billion of assets under administration and c. 12 million customers. We were founded in 1782 and are based in London, UK, and our family of brands include Standard Life, SunLife and ReAssure. We are a constituent of the FTSE 100 with c. 6,600 colleagues and offer a broad range of savings and retirement income products to support people across all stages of their savings journey. We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.