Phoenix Group (LON:PHNX – Free Report) had its target price trimmed by Berenberg Bank from GBX 739 ($9.20) to GBX 650 ($8.09) in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.
Separately, JPMorgan Chase & Co. increased their price objective on shares of Phoenix Group from GBX 445 ($5.54) to GBX 525 ($6.54) and gave the stock an underweight rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of GBX 614.60 ($7.65).
Read Our Latest Stock Analysis on Phoenix Group
Phoenix Group Stock Up 1.3 %
Phoenix Group Increases Dividend
The company also recently declared a dividend, which will be paid on Wednesday, May 22nd. Investors of record on Thursday, April 11th will be issued a dividend of GBX 26.65 ($0.33) per share. The ex-dividend date is Thursday, April 11th. This is an increase from Phoenix Group’s previous dividend of $26.00. This represents a yield of 5.46%. Phoenix Group’s dividend payout ratio is -37,857.14%.
Insider Buying and Selling
In other Phoenix Group news, insider Andrew Briggs sold 40,039 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of GBX 526 ($6.55), for a total transaction of £210,605.14 ($262,174.95). In other Phoenix Group news, insider Rakesh Thakrar sold 16,296 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of GBX 553 ($6.88), for a total transaction of £90,116.88 ($112,183.34). Also, insider Andrew Briggs sold 40,039 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of GBX 526 ($6.55), for a total transaction of £210,605.14 ($262,174.95). 14.90% of the stock is currently owned by insiders.
About Phoenix Group
Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through five segments: Retirement Solutions, Pensions & Savings, With-Profits, SunLife & Protection, and Europe & Other. It provides a range of savings and retirement income products to support people across various stages of the savings life cycle.
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