Phoenix Group (LON:PHNX) Sets New 52-Week High – Time to Buy?

Phoenix Group Holdings plc (LON:PHNX) reached a new 52-week high during trading on Friday . The company traded as high as GBX 774.50 and last traded at GBX 774.50, with a volume of 6001339 shares. The stock had previously closed at GBX 766.50.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PHNX shares. UBS Group upgraded shares of Phoenix Group to a “buy” rating and increased their price target for the company from GBX 670 to GBX 770 in a research report on Wednesday, December 17th. Berenberg Bank boosted their target price on shares of Phoenix Group from GBX 852 to GBX 918 and gave the company a “buy” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of Phoenix Group from GBX 605 to GBX 620 and gave the stock an “underweight” rating in a report on Thursday, February 5th. Finally, The Goldman Sachs Group raised Phoenix Group to a “neutral” rating and increased their price objective for the company from GBX 593 to GBX 752 in a report on Wednesday, January 21st. Three investment 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 750.

Phoenix Group Trading Up 0.1%

The firm has a 50-day simple moving average of GBX 742.39 and a 200-day simple moving average of GBX 696.66. 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 stock has a market cap of £7.68 billion, a PE ratio of -12.10, a P/E/G ratio of 1.95 and a beta of 0.73.

Phoenix Group (LON:PHNX) last announced its quarterly earnings results on Monday, December 15th. The company reported GBX 32.70 earnings per share for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. Equities analysts forecast that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current year.

Phoenix Group Company Profile

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.