Berenberg Bank Lowers Phoenix Group (LON:PHNX) Price Target to GBX 650

Phoenix Group (LON:PHNX) had its target price cut by research analysts at Berenberg Bank from GBX 739 ($9.20) to GBX 650 ($8.09) in a research note issued to investors on Friday, LSE.Co.UK reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 33.36% from the stock’s previous close.

Separately, JPMorgan Chase & Co. lifted their price objective on Phoenix Group from GBX 445 ($5.54) to GBX 525 ($6.54) and gave the company an “underweight” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Phoenix Group has an average rating of “Hold” and a consensus target price of GBX 614.60 ($7.65).

Phoenix Group Stock Performance

Shares of PHNX stock traded up GBX 6.20 ($0.08) during trading hours on Friday, reaching GBX 487.40 ($6.07). 2,621,752 shares of the company traded hands, compared to its average volume of 2,587,259. Phoenix Group has a 12-month low of GBX 436.40 ($5.43) and a 12-month high of GBX 614.20 ($7.65). The company has a debt-to-equity ratio of 176.72, a current ratio of 0.19 and a quick ratio of 0.12. The company has a market cap of £4.87 billion, a P/E ratio of -3,481.43, a P/E/G ratio of 1.95 and a beta of 0.74. The firm has a 50-day moving average price of GBX 511.39 and a 200 day moving average price of GBX 497.93.

Insider Activity

In other Phoenix Group news, insider Rakesh Thakrar sold 16,296 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of GBX 553 ($6.88), for a total value of £90,116.88 ($112,183.34). In other Phoenix Group news, insider Rakesh Thakrar sold 16,296 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of GBX 553 ($6.88), for a total value of £90,116.88 ($112,183.34). Also, insider Andrew Briggs sold 40,039 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of GBX 526 ($6.55), for a total value of £210,605.14 ($262,174.95). Corporate insiders own 14.90% of the company’s stock.

About Phoenix Group

Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through five segments: Retirement Solutions, Pensions & Savings, With-Profits, SunLife & Protection, and Europe & Other. It provides a range of savings and retirement income products to support people across various stages of the savings life cycle.