Phoenix Group (LON:PHNX) Price Target Raised to GBX 525 at JPMorgan Chase & Co.

Phoenix Group (LON:PHNX) had its target price raised by JPMorgan Chase & Co. from GBX 445 ($5.63) to GBX 525 ($6.64) in a research report released on Wednesday morning, MarketBeat reports. The brokerage currently has an underweight rating on the stock.

Phoenix Group Stock Performance

Shares of LON PHNX opened at GBX 516 ($6.53) on Wednesday. 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 stock’s fifty day moving average price is GBX 512.19 and its two-hundred day moving average price is GBX 497.77. Phoenix Group has a one year low of GBX 436.40 ($5.52) and a one year high of GBX 614.20 ($7.77). The firm has a market cap of £5.16 billion, a price-to-earnings ratio of -3,875.00, a P/E/G ratio of 1.95 and a beta of 0.74.

Phoenix Group Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Thursday, April 11th will be issued a dividend of GBX 26.65 ($0.34) per share. This is a positive change from Phoenix Group’s previous dividend of $26.00. This represents a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, April 11th. Phoenix Group’s dividend payout ratio is -37,857.14%.

Insider Transactions at Phoenix Group

In other news, insider Rakesh Thakrar sold 16,296 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of GBX 553 ($7.00), for a total transaction of £90,116.88 ($114,057.56). In other news, insider Rakesh Thakrar sold 16,296 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of GBX 553 ($7.00), for a total transaction of £90,116.88 ($114,057.56). Also, insider Andrew Briggs sold 40,039 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of GBX 526 ($6.66), for a total value of £210,605.14 ($266,555.04). 14.90% of the stock is currently owned by insiders.

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.