Phoenix Group (LON:PHNX) Price Target Cut to GBX 739 by Analysts at Berenberg Bank

Posted by Defense World Staff on Sep 26th, 2023

Phoenix Group (LON:PHNX – Free Report) had its price objective reduced by Berenberg Bank from GBX 770 ($9.40) to GBX 739 ($9.02) in a research note released on Friday morning, Digital Look reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on PHNX. Barclays boosted their target price on shares of Phoenix Group from GBX 715 ($8.73) to GBX 718 ($8.77) and gave the company an overweight rating in a research note on Thursday, September 7th. Bank of America upped their price target on shares of Phoenix Group from GBX 620 ($7.57) to GBX 640 ($7.82) and gave the stock a buy rating in a research report on Monday, September 18th. 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, the company presently has an average rating of Hold and an average price target of GBX 680.33 ($8.31).

Read Our Latest Research Report on PHNX

Phoenix Group Price Performance

Phoenix Group stock opened at GBX 511 ($6.24) on Friday. The company has a market cap of £5.11 billion, a price-to-earnings ratio of -276.22, a PEG ratio of 1.95 and a beta of 0.78. The company has a debt-to-equity ratio of 161.58, a quick ratio of 0.12 and a current ratio of 0.25. Phoenix Group has a 1 year low of GBX 500 ($6.11) and a 1 year high of GBX 647 ($7.90). The firm has a 50 day moving average price of GBX 529.69 and a 200 day moving average price of GBX 548.96.

Phoenix Group Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, October 23rd. Stockholders of record on Thursday, September 28th will be given a dividend of GBX 26 ($0.32) per share. The ex-dividend date is Thursday, September 28th. This represents a dividend yield of 4.83%. Phoenix Group’s payout ratio is currently -2,810.81%.

Phoenix Group Company Profile

(Get Free Report)

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.