Phoenix Group (LON:PHNX) Reaches New 52-Week High – Time to Buy?

Phoenix Group Holdings plc (LON:PHNX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 760 and last traded at GBX 757.50, with a volume of 9830009 shares changing hands. The stock had previously closed at GBX 751.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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. UBS Group upgraded Phoenix Group to a “buy” rating and boosted their price target for the company from GBX 670 to GBX 770 in a report on Wednesday, December 17th. Berenberg Bank lifted their target price on Phoenix Group from GBX 852 to GBX 918 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Phoenix Group from GBX 605 to GBX 620 and gave the company an “underweight” rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 750.

Phoenix Group Trading Down 0.7%

The company has a market cap of £7.51 billion, a P/E ratio of -11.82, a PEG ratio of 1.95 and a beta of 0.73. The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32. The business has a 50 day moving average price of GBX 725.09 and a 200-day moving average price of GBX 686.89.

Phoenix Group (LON:PHNX) last issued its earnings results on Monday, December 15th. The company reported GBX 32.70 earnings per share for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. Analysts forecast that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current fiscal year.

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.