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

Phoenix Group Holdings plc (LON:PHNX) reached a new 52-week high during mid-day 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 trading hands. The stock had previously closed at GBX 580 ($7.55).

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

Wall Street Analysts Forecast Growth

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

Phoenix Group Price Performance

The stock has a 50 day moving average of GBX 514.20 and a two-hundred day moving average of GBX 519.35. The stock has a market cap of £5.82 billion, a PE ratio of -11.15, a PEG ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 160.32, a quick ratio of 0.12 and a current ratio of 3.30.

Phoenix Group (LON:PHNX) last issued its quarterly 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%. Equities analysts anticipate that Phoenix Group Holdings plc will post 51.179941 EPS for the current year.

Insider Buying and Selling at Phoenix Group

In other Phoenix Group news, insider Andrew Briggs sold 151,586 shares of Phoenix Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of GBX 582 ($7.57), for a total transaction 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.