Phoenix Group (LON:PHNX) Hits New 1-Year High After Dividend Announcement

Phoenix Group Holdings plc (LON:PHNX) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as GBX 582.50 ($7.58) and last traded at GBX 578.50 ($7.53), with a volume of 16006652 shares traded. The stock had previously closed at GBX 580 ($7.55).

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

Analyst Upgrades and Downgrades

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

Phoenix Group Stock Down 0.9 %

The company has a current ratio of 3.30, a quick ratio of 0.12 and a debt-to-equity ratio of 160.32. The firm has a market capitalization of £5.82 billion, a P/E ratio of -11.15, a P/E/G ratio of 1.95 and a beta of 0.73. The stock’s 50-day simple moving average is GBX 514.20 and its 200-day simple moving average is GBX 519.35.

Phoenix Group (LON:PHNX) last announced its earnings results on Tuesday, March 18th. The company reported GBX 45.40 ($0.59) earnings per share 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, research analysts predict that Phoenix Group Holdings plc will post 51.179941 earnings per share for the current fiscal year.

Insider Buying and Selling at Phoenix Group

In other Phoenix Group news, insider Andrew Briggs sold 151,586 shares of the business’s stock in a transaction dated 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). Corporate 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.