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

Shares of Phoenix Group Holdings plc (LON:PHNX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 715.93 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.

Analysts Set New Price Targets

A number of research analysts recently commented on PHNX shares. JPMorgan Chase & Co. boosted their price target on Phoenix Group from GBX 605 to GBX 620 and gave the stock an “underweight” rating in a report on Thursday, February 5th. Berenberg Bank upped their price objective on Phoenix Group from GBX 852 to GBX 918 and gave the stock a “buy” rating in a 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 report on Wednesday, January 21st. Finally, UBS Group upgraded Phoenix Group to a “buy” rating and increased their price target for the company from GBX 670 to GBX 770 in a report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 750.

Phoenix Group Price Performance

The company has a market cap of £7.68 billion, a P/E ratio of -12.10, a P/E/G ratio of 1.95 and a beta of 0.85. The business has a 50-day moving average of GBX 759.90 and a two-hundred day moving average of GBX 715.93.

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.