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

Phoenix Group Holdings plc (LON:PHNX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 736.16 and traded as high as GBX 774.50. Phoenix Group shares last traded at GBX 767, with a volume of 2,361,801 shares.

Wall Street Analyst Weigh In

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

Phoenix Group Price Performance

The stock 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 company’s 50 day simple moving average is GBX 767 and its 200 day simple moving average is GBX 737.34.

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.