Phoenix Group (LON:PHNX) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Phoenix Group Holdings plc (LON:PHNX - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 519.79 ($6.75) and traded as high as GBX 547 ($7.10). Phoenix Group shares last traded at GBX 542.66 ($7.04), with a volume of 294,662,563 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PHNX shares. Berenberg Bank restated a "buy" rating and issued a GBX 650 ($8.44) price target on shares of Phoenix Group in a report on Monday, February 17th. JPMorgan Chase & Co. increased their target price on shares of Phoenix Group from GBX 500 ($6.49) to GBX 565 ($7.33) and gave the stock an "underweight" rating in a research note on Friday, March 28th.

Phoenix Group Stock Performance

The business has a fifty day simple moving average of GBX 532.06 and a two-hundred day simple moving average of GBX 518.89. The company has a quick ratio of 0.12, a current ratio of 3.30 and a debt-to-equity ratio of 160.32. The company has a market cap of £5.47 billion, a P/E ratio of -10.48, a P/E/G ratio of 1.95 and a beta of 0.73.

Phoenix Group (LON:PHNX - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) EPS for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. On average, sell-side analysts anticipate that Phoenix Group Holdings plc will post 51.179941 EPS for the current year.

Phoenix Group Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, April 24th will be issued a GBX 27.35 ($0.36) dividend. This represents a yield of 4.66%. The ex-dividend date of this dividend is Thursday, April 24th. This is a positive change from Phoenix Group's previous dividend of $26.65. Phoenix Group's payout ratio is presently -101.58%.

Insider Buying and Selling

In other Phoenix Group news, insider Andrew Briggs sold 151,586 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.55), for a total value of £882,230.52 ($1,145,159.03). 14.96% of the stock is currently owned by company insiders.

About Phoenix Group

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.