Phoenix Group Holdings Price Target Raised to GBX 825 at Berenberg Bank (PHNX)
Berenberg Bank upped their target price on shares of Phoenix Group Holdings (LON:PHNX) from GBX 750 ($12.45) to GBX 825 ($13.69) in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target indicates a potential upside of 10.01% from the stock’s previous close.
Phoenix Group Holdings (LON:PHNX) traded down 1.26% on Wednesday, hitting GBX 742.50. The stock had a trading volume of 370,358 shares. Phoenix Group Holdings has a one year low of GBX 560.52 and a one year high of GBX 853.50. The stock’s 50-day moving average is GBX 702.3 and its 200-day moving average is GBX 682.0. The company’s market cap is £1.671 billion.
The company also recently declared a dividend, which is scheduled for Thursday, October 2nd. Shareholders of record on Wednesday, September 3rd will be given a dividend of GBX 26.70 ($0.44) per share. This represents a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, September 3rd.
PHNX has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of Phoenix Group Holdings to an “equal weight” rating in a research note on Tuesday, August 26th. They now have a GBX 713 ($11.83) price target on the stock. Separately, analysts at Liberum Capital raised their price target on shares of Phoenix Group Holdings from GBX 735 ($12.20) to GBX 740 ($12.28) in a research note on Friday, August 22nd. They now have a “hold” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Phoenix Group Holdings in a research note on Friday, August 22nd. They now have a GBX 800 ($13.28) price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Phoenix Group Holdings has an average rating of “Hold” and a consensus target price of GBX 637 ($10.57).
Phoenix Group Holdings is a United Kingdom-based company that acquires and manages closed life insurance businesses that are in run-off.
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