Phoenix Group Holdings (LON:PHNX) had its price objective reduced by investment analysts at Barclays from GBX 796 ($11.45) to GBX 766 ($11.02) in a note issued to investors on Monday, Analyst Ratings Net reports. The brokerage presently has an “underweight” rating on the stock. Barclays’ price target indicates a potential downside of 10.46% from the company’s previous close.

Shares of Phoenix Group Holdings (LON:PHNX) traded down 1.58% during midday trading on Monday, reaching GBX 842.00. The company’s stock had a trading volume of 360,043 shares. Phoenix Group Holdings has a 12 month low of GBX 793.05 and a 12 month high of GBX 935.00. The company’s market cap is GBX 1.89 billion. The stock has a 50-day moving average of GBX 881.65 and a 200 day moving average of GBX 864.24.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Phoenix Group Holdings in a research report on Tuesday, October 13th. Canaccord Genuity reissued a “buy” rating and set a GBX 890 ($12.80) price target on shares of Phoenix Group Holdings in a research report on Tuesday, January 5th. Jefferies Group reduced their price target on Phoenix Group Holdings from GBX 925 ($13.31) to GBX 888 ($12.78) and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank reissued a “hold” rating and set a GBX 910 ($13.09) price target on shares of Phoenix Group Holdings in a research report on Monday, December 7th. Finally, HSBC reissued a “hold” rating and set a GBX 880 ($12.66) price target on shares of Phoenix Group Holdings in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 660.80 ($9.51).

Phoenix Group Holdings is a specialist closed life and pension fund consolidator in the United Kingdom. The Company manages life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. The Company, through its Phoenix Life segment, provides a range of whole life, term assurance and pension products. The Company’s closed life funds consist of around five million policyholders and total life company assets of approximately £52 billion. The Company has three operating United Kingdom life companies, namely, Phoenix Life Limited, Phoenix Life Assurance Limited and National Provident Life Limited (LON:PHNX). The Company’s United Kingdom life companies consist of 14 with-profit funds and two non-profit funds. The Company operates its United Kingdom life insurance business under the Phoenix Life brand.

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