Barclays Trims Phoenix Group (LON:PHNX) Target Price to GBX 657
Phoenix Group (LON:PHNX) had its price target lowered by Barclays from GBX 664 ($8.68) to GBX 657 ($8.58) in a research note issued to investors on Tuesday, ThisIsMoney.Co.Uk reports. Barclays currently has an equal weight rating on the stock.
Other research analysts also recently issued research reports about the company. Deutsche Bank reaffirmed a hold rating on shares of Phoenix Group in a report on Tuesday. Royal Bank of Canada reaffirmed an outperform rating and set a GBX 820 ($10.71) target price on shares of Phoenix Group in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Phoenix Group has an average rating of Buy and a consensus target price of GBX 779.80 ($10.19).
The company has a current ratio of 0.19, a quick ratio of 0.09 and a debt-to-equity ratio of 38.77. The business’s 50 day moving average price is GBX 675.58 and its 200 day moving average price is GBX 689.07. Phoenix Group has a 1-year low of GBX 537.50 ($7.02) and a 1-year high of GBX 735.20 ($9.61). The company has a market cap of $4.63 billion and a P/E ratio of 11.03.
The business also recently declared a dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, August 15th will be issued a GBX 23.40 ($0.31) dividend. This represents a dividend yield of 3.47%. The ex-dividend date is Thursday, August 15th. Phoenix Group’s dividend payout ratio (DPR) is 0.81%.
In related news, insider Jim McConville sold 34,514 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of GBX 696 ($9.09), for a total value of £240,217.44 ($313,886.63).
About Phoenix Group
Phoenix Group Holdings, a closed life assurance fund consolidator, acquires and manages closed life and pension funds primarily in the United Kingdom. It operates through four segments: UK Heritage, UK Open, Europe, and Management Services. It also provides financing services. The company was formerly known as Pearl Group and changed its name to Phoenix Group Holdings in March 2010.
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