Phoenix Group (LON:PHNX) Reaches New 12-Month High Following Dividend Announcement

Phoenix Group Holdings plc (LON:PHNX)’s share price hit a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as GBX 582.50 ($7.58) and last traded at GBX 578.50 ($7.53), with a volume of 16006652 shares. The stock had previously closed at GBX 580 ($7.55).

The newly announced dividend which will be paid on Wednesday, May 21st. Investors of record on Thursday, April 3rd will be issued a GBX 27.35 ($0.36) dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 4.66%. This is a positive change from Phoenix Group’s previous dividend of $26.65. Phoenix Group’s dividend payout ratio (DPR) is -101.58%.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.46) price objective on shares of Phoenix Group in a report on Monday, February 17th.

Phoenix Group Price Performance

The firm has a market cap of £5.82 billion, a P/E ratio of -11.15, a PEG ratio of 1.95 and a beta of 0.73. The business’s fifty day simple moving average is GBX 514.20 and its 200-day simple moving average is GBX 519.35. 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 (LON:PHNX) last released its quarterly earnings data on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) earnings per share (EPS) for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. As a group, analysts forecast that Phoenix Group Holdings plc will post 51.179941 EPS for the current fiscal year.

Insider Activity

In other news, insider Andrew Briggs sold 151,586 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of GBX 582 ($7.57), for a total value of £882,230.52 ($1,147,691.58). Company insiders own 14.96% of the company’s stock.

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.