The Goldman Sachs Group Upgrades Phoenix Group (LON:PHNX) to Neutral

Phoenix Group (LON:PHNX) was upgraded by equities researchers at The Goldman Sachs Group to a “neutral” rating in a research report issued on Wednesday, MarketBeat.com reports. The firm presently has a GBX 752 price target on the stock, up from their prior price target of GBX 593. The Goldman Sachs Group’s target price suggests a potential upside of 2.52% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. UBS Group raised Phoenix Group to a “buy” rating and lifted their target price for the company from GBX 670 to GBX 770 in a research report on Wednesday, December 17th. Berenberg Bank lifted their price objective on shares of Phoenix Group from GBX 850 to GBX 852 and gave the company a “buy” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 725.80.

Phoenix Group Stock Up 0.3%

Shares of PHNX stock opened at GBX 733.53 on Wednesday. Phoenix Group has a 12-month low of GBX 485.20 and a 12-month high of GBX 756.50. 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 firm has a fifty day moving average of GBX 710.31 and a 200-day moving average of GBX 680.03. The company has a market capitalization of £7.35 billion, a price-to-earnings ratio of -11.57, a P/E/G ratio of 1.95 and a beta of 0.73.

Phoenix Group (LON:PHNX) last announced its earnings results on Monday, December 15th. The company reported GBX 32.70 earnings per share for the quarter. Phoenix Group had a negative net margin of 2.10% and a negative return on equity of 21.76%. As a group, equities research analysts predict that Phoenix Group will post 51.179941 earnings per share for the current fiscal year.

Phoenix Group Company Profile

Phoenix Group is one of the UK’s largest long-term savings and retirement businesses with over £290 billion of assets under administration and c. 12 million customers. We were founded in 1782 and are based in London, UK, and our family of brands include Standard Life, SunLife and ReAssure. We are a constituent of the FTSE 100 with c. 6,600 colleagues and offer a broad range of savings and retirement income products to support people across all stages of their savings journey. We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.