Phoenix Group Holdings (LON:PHNX) Receives Average Rating of “Buy” from Brokerages

Shares of Phoenix Group Holdings (LON:PHNX) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is GBX 799 ($10.44).

A number of analysts have weighed in on the company. Deutsche Bank reiterated a “hold” rating on shares of Phoenix Group in a research note on Friday, July 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 820 ($10.71) target price on shares of Phoenix Group in a research note on Friday, August 9th.

In other news, insider Jim McConville sold 34,514 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of GBX 696 ($9.09), for a total transaction of £240,217.44 ($313,886.63). Also, insider Clive Bannister sold 24,878 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of GBX 668 ($8.73), for a total value of £166,185.04 ($217,150.19).

PHNX stock traded down GBX 16 ($0.21) during midday trading on Wednesday, reaching GBX 643.50 ($8.41). The company’s stock had a trading volume of 2,286,399 shares, compared to its average volume of 1,360,000. The company has a debt-to-equity ratio of 38.77, a quick ratio of 0.09 and a current ratio of 0.19. The stock has a fifty day simple moving average of GBX 696.45 and a two-hundred day simple moving average of GBX 689.10. 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 firm has a market capitalization of $4.64 billion and a price-to-earnings ratio of 11.06.

Phoenix Group (LON:PHNX) last released its earnings results on Wednesday, August 7th. The company reported GBX 3.70 ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of GBX 11.70 ($0.15) by GBX (8) (($0.10)). As a group, analysts forecast that Phoenix Group will post 2654.9997958 EPS for the current fiscal year.

The company also recently declared a dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, August 15th will be given a dividend of GBX 23.40 ($0.31) per share. This represents a dividend yield of 3.47%. The ex-dividend date is Thursday, August 15th. Phoenix Group’s payout ratio is 0.81%.

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.

Further Reading: Rule of 72

Analyst Recommendations for Phoenix Group (LON:PHNX)

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