Royal Bank of Canada Reaffirms Outperform Rating for Phoenix Group (LON:PHNX)

Phoenix Group (LON:PHNXGet Rating)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Friday, Marketbeat.com reports. They presently have a GBX 770 ($9.69) price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 18.21% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Phoenix Group from GBX 795 ($10.00) to GBX 750 ($9.44) and set a “hold” rating for the company in a research note on Wednesday, March 16th. Barclays decreased their target price on shares of Phoenix Group from GBX 804 ($10.12) to GBX 780 ($9.82) and set an “overweight” rating for the company in a research note on Monday, April 4th. JPMorgan Chase & Co. raised shares of Phoenix Group to an “overweight” rating and set a GBX 800 ($10.07) target price for the company in a research note on Thursday, March 31st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phoenix Group in a research note on Thursday, April 14th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 815 ($10.26) price target on shares of Phoenix Group in a research report on Tuesday, March 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 770.83 ($9.70).

Shares of LON PHNX opened at GBX 651.40 ($8.20) on Friday. Phoenix Group has a fifty-two week low of GBX 559.20 ($7.04) and a fifty-two week high of GBX 754.40 ($9.49). The company has a 50 day simple moving average of GBX 620.66 and a two-hundred day simple moving average of GBX 640.68. The company has a market capitalization of £6.51 billion and a price-to-earnings ratio of -7.54. The company has a debt-to-equity ratio of 63.88, a quick ratio of 0.08 and a current ratio of 0.23.

In other news, insider Nicholas Shott bought 1,784 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were bought at an average price of GBX 626 ($7.88) per share, for a total transaction of £11,167.84 ($14,052.90). Also, insider Rakesh Thakrar sold 6,749 shares of Phoenix Group stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of GBX 642 ($8.08), for a total transaction of £43,328.58 ($54,521.93).

About Phoenix Group (Get Rating)

Phoenix Group Holdings plc engages in the long-term savings and retirement busines in Europe. The company operates through UK Heritage, UK Open, Europe, and Management Services segments. The UK Heritage segment accepts incremental premiums on in-force policies. The UK Open segment offers workplace pensions and self-invested personal pensions products under the SunLife brand.

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