JPMorgan Chase & Co. Trims Phoenix Group (LON:PHNX) Target Price to GBX 846

Phoenix Group (LON:PHNX) had its price objective lowered by JPMorgan Chase & Co. from GBX 857 ($11.20) to GBX 846 ($11.05) in a report published on Monday, ThisIsMoney.Co.Uk reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the stock. Barclays reduced their price target on shares of Phoenix Group from GBX 664 ($8.68) to GBX 657 ($8.58) and set an equal weight rating for the company in a research report on Tuesday, September 3rd. Deutsche Bank reissued a hold rating on shares of Phoenix Group in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued an outperform rating and issued a GBX 820 ($10.71) price target on shares of Phoenix Group in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of GBX 777.60 ($10.16).

LON PHNX opened at GBX 689.10 ($9.00) on Monday. The company has a 50 day simple moving average of GBX 671.06 and a 200-day simple moving average of GBX 689.40. The company has a debt-to-equity ratio of 38.77, a current ratio of 0.19 and a quick ratio of 0.09. The firm has a market capitalization of $4.97 billion and a price-to-earnings ratio of 11.84. Phoenix Group has a 52-week low of GBX 537.50 ($7.02) and a 52-week high of GBX 735.20 ($9.61).

Phoenix Group (LON:PHNX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported GBX 3.70 ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 11.70 ($0.15) by GBX (8) (($0.10)). On average, analysts predict that Phoenix Group will post 2655.0001417 EPS for the current year.

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

In related news, insider Jim McConville sold 34,514 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of GBX 696 ($9.09), for a total transaction of £240,217.44 ($313,886.63).

Phoenix Group Company Profile

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.

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