Phoenix Group (LON:PHNX) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Phoenix Group Holdings plc (LON:PHNX) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 711.54 and traded as high as GBX 774.50. Phoenix Group shares last traded at GBX 767, with a volume of 2,361,801 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHNX. UBS Group raised Phoenix Group to a “buy” rating and increased their target price for the stock from GBX 670 to GBX 770 in a research note on Wednesday, December 17th. Berenberg Bank upped their price target on shares of Phoenix Group from GBX 852 to GBX 918 and gave the company a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of Phoenix Group from GBX 605 to GBX 620 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group upgraded shares of Phoenix Group to a “neutral” rating and raised their price objective for the stock from GBX 593 to GBX 752 in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 750.

Phoenix Group Price Performance

The stock has a market capitalization 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 company’s 50-day simple moving average is GBX 755.59 and its 200-day simple moving average is GBX 711.54.

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.