JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Phoenix Group (LON:PHNX) Stock

Phoenix Group (LON:PHNX) had its target price boosted by research analysts at JPMorgan Chase & Co. from GBX 500 ($6.47) to GBX 565 ($7.31) in a note issued to investors on Friday,Digital Look reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 1.06% from the company’s current price.

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.42) target price on shares of Phoenix Group in a research report on Monday, February 17th.

Phoenix Group Trading Down 0.6 %

Shares of Phoenix Group stock opened at GBX 571.05 ($7.39) on Friday. The company’s 50-day moving average price is GBX 524.77 and its 200-day moving average price is GBX 519.80. The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32. Phoenix Group has a 12-month low of GBX 475 ($6.15) and a 12-month high of GBX 590 ($7.64). The company has a market cap of £5.71 billion, a price-to-earnings ratio of -10.94, a PEG ratio of 1.95 and a beta of 0.73.

Phoenix Group (LON:PHNX) last posted its earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) earnings per share (EPS) for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. On average, equities analysts expect that Phoenix Group will post 51.179941 earnings per share for the current fiscal year.

Insider Transactions at Phoenix Group

In related news, insider Andrew Briggs sold 151,586 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of GBX 582 ($7.53), for a total transaction of £882,230.52 ($1,142,193.84). Insiders own 14.96% of the company’s stock.

Phoenix Group Company Profile

Phoenix is the UK’s largest long-term savings and retirement business with c. £300 billion of assets under administration and c. 12 million customers.
We are a constituent of the FTSE 100 with c. 7,800 colleagues and offer a broad range of products to support people across all stages of the savings life cycle.
We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.