Numis Securities Reaffirms Hold Rating for Phoenix Group (LON:PHNX)

Numis Securities reaffirmed their hold rating on shares of Phoenix Group (LON:PHNX) in a research report sent to investors on Thursday, March 15th. The brokerage currently has a GBX 838 ($11.76) target price on the stock.

PHNX has been the subject of a number of other research reports. Deutsche Bank reissued a hold rating and issued a GBX 800 ($11.23) price target on shares of Phoenix Group in a report on Tuesday, February 6th. HSBC raised their price target on shares of Phoenix Group from GBX 810 ($11.37) to GBX 820 ($11.51) and gave the company a hold rating in a report on Thursday, November 23rd. Shore Capital reaffirmed a buy rating on shares of Phoenix Group in a report on Friday, February 23rd. Barclays lowered their target price on shares of Phoenix Group from GBX 673 ($9.45) to GBX 664 ($9.32) and set an underweight rating for the company in a report on Monday, December 11th. Finally, Berenberg Bank lifted their target price on shares of Phoenix Group from GBX 880 ($12.35) to GBX 905 ($12.70) and gave the stock a buy rating in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of GBX 810.14 ($11.37).

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Shares of LON PHNX traded up GBX 3.50 ($0.05) during mid-day trading on Thursday, hitting GBX 768 ($10.78). The company had a trading volume of 1,079,143 shares, compared to its average volume of 1,360,000. Phoenix Group has a 12 month low of GBX 719 ($10.09) and a 12 month high of GBX 820 ($11.51).

The business also recently disclosed a dividend, which will be paid on Friday, May 4th. Investors of record on Thursday, March 22nd will be given a GBX 25.10 ($0.35) dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a yield of 3.21%.

In related news, insider Jim McConville sold 12,635 shares of the business’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of GBX 782 ($10.98), for a total value of £98,805.70 ($138,694.13).

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Phoenix Group Company Profile

Phoenix Group Holdings is a consolidator of closed life assurance funds specializing in the management and acquisition of closed life and pension funds. The Company’s segment: life assurance (including its management services operations) is referred to as Phoenix Life. It has four operating life companies, which hold policyholder assets and a distribution business, SunLife.

Analyst Recommendations for Phoenix Group (LON:PHNX)

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