Phoenix Group Holdings (PHNX) Receives Average Recommendation of “Buy” from Brokerages

Phoenix Group Holdings (LON:PHNX) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is GBX 782.75 ($10.23).

Several equities analysts have recently weighed in on PHNX shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Phoenix Group in a research note on Thursday, March 7th. Shore Capital reaffirmed an “under review” rating on shares of Phoenix Group in a research note on Tuesday, March 5th. Deutsche Bank reaffirmed a “hold” rating and set a GBX 710 ($9.28) price target on shares of Phoenix Group in a research note on Wednesday, February 20th. HSBC increased their price objective on Phoenix Group from GBX 760 ($9.93) to GBX 825 ($10.78) and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on Phoenix Group from GBX 814 ($10.64) to GBX 857 ($11.20) and gave the company an “overweight” rating in a report on Wednesday, March 6th.

In other news, insider Kory Sorenson bought 5,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of GBX 656 ($8.57) per share, with a total value of £32,800 ($42,859.01). Also, insider Clive Bannister sold 24,878 shares of Phoenix Group stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of GBX 668 ($8.73), for a total value of £166,185.04 ($217,150.19).

Shares of PHNX traded up GBX 6.20 ($0.08) during mid-day trading on Friday, hitting GBX 694.20 ($9.07). 767,503 shares of the company’s stock were exchanged, compared to its average volume of 1,360,000. The stock has a market capitalization of $5.00 billion and a P/E ratio of 10.42. Phoenix Group has a 52 week low of GBX 537.50 ($7.02) and a 52 week high of GBX 735.20 ($9.61). The company has a quick ratio of 0.04, a current ratio of 0.17 and a debt-to-equity ratio of 48.43.

About Phoenix Group

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.

Featured Article: What does the Dow Jones Industrial Average (DJIA) measure?

Analyst Recommendations for Phoenix Group (LON:PHNX)

Receive News & Ratings for Phoenix Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phoenix Group and related companies with MarketBeat.com's FREE daily email newsletter.