Phoenix Group (LON:PHNX) Price Target Increased to GBX 640 by Analysts at Bank of America

Phoenix Group (LON:PHNX) had its price target boosted by Bank of America from GBX 620 ($7.68) to GBX 640 ($7.93) in a research report released on Monday, Digital Look reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on PHNX. Berenberg Bank reaffirmed a buy rating and issued a GBX 770 ($9.54) target price on shares of Phoenix Group in a research report on Thursday, September 14th. Barclays lifted their price target on shares of Phoenix Group from GBX 715 ($8.86) to GBX 718 ($8.89) and gave the stock an overweight rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Phoenix Group currently has an average rating of Hold and an average price target of GBX 685.50 ($8.49).

Phoenix Group Stock Up 1.6 %

Phoenix Group stock traded up GBX 8.60 ($0.11) during midday trading on Monday, hitting GBX 535 ($6.63). 1,634,066 shares of the company were exchanged, compared to its average volume of 2,154,991. The company has a debt-to-equity ratio of 161.58, a current ratio of 0.25 and a quick ratio of 0.12. Phoenix Group has a fifty-two week low of GBX 501 ($6.21) and a fifty-two week high of GBX 647 ($8.01). The company’s fifty day moving average price is GBX 530.79 and its 200-day moving average price is GBX 552.66. The company has a market cap of £5.35 billion, a PE ratio of -290.64, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Phoenix Group Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, October 23rd. Stockholders of record on Thursday, September 28th will be issued a dividend of GBX 26 ($0.32) per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a dividend yield of 4.83%. Phoenix Group’s dividend payout ratio is -2,826.09%.

Phoenix Group Company Profile

Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through four segments: UK Heritage, UK Open, Europe, and Management Services. It provides a range of pensions and savings products to support people across various stages of the savings life cycle.