Is Phoenix Group Holdings stock a buy right now?
Phoenix Group Holdings plc, currently trading around 599 GBX with an average daily volume of approximately 3.83 million shares, stands as the UK's largest long-term savings and retirement business. The stock has recently brushed the top of its 52-week range, supported by notable momentum: its share price is up nearly 15% over the past year, and all key technical indicators—such as trading above major moving averages and confirmation of a Golden Cross—suggest a confident, positive trajectory. Despite headline figures of IFRS volatility, strong operating cash generation (up 22% in FY 2024) and a sustainable 9.18% dividend yield underpin its investment case. Recent events, including upgraded cash generation and profit targets through 2026, cost-saving initiatives, and repayment of £500 million in debt, underline disciplined management and strategic focus. Market sentiment is tilting constructive on account of ongoing brand innovation, digital transformation, and robust client inflows—particularly in workplace pensions and annuities. Sector-wide, as the UK savings and retirement industry experiences demographic-driven growth and heightened demand for reliable income streams, Phoenix is exceptionally well-placed. Reflecting the consensus of more than 32 national and international banks, the current target price stands at 779 GBX—an implicit signal of renewed confidence in Phoenix’s growth and dividend potential.
- Exceptional 9.18% dividend yield, consistently covered by strong cash generation.
- Demonstrated 22% increase in FY 2024 operating cash generation versus previous year.
- Upgrade of profit and cash targets through 2026, signifying sustained growth momentum.
- Confirmed technical uptrend: trading above all key moving averages with Golden Cross formation.
- Market leadership in pensions and annuities with ongoing product and digital innovation.
- IFRS earnings volatility primarily due to economic variance, not underlying business weakness.
- Sensitive to UK economic cycles and regulatory changes affecting pensions and insurance.
- What is Phoenix Group Holdings?
- How much is Phoenix Group Holdings stock?
- Our full analysis on Phoenix Group Holdings </b>stock
- How to buy Phoenix Group Holdings stock in United Kingdom?
- Our 7 tips for buying Phoenix Group Holdings stock
- The latest news about Phoenix Group Holdings
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been monitoring Phoenix Group Holdings' performance for over three years. Each month, hundreds of thousands of users across the United Kingdom rely on us to make sense of market trends and highlight the best investment opportunities. Our analyses are produced exclusively for informational purposes and do not constitute investment advice. In line with our ethical charter, we have never received, and will never receive, any payment from Phoenix Group Holdings.
What is Phoenix Group Holdings?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | United Kingdom | As a UK-based company, it provides direct exposure to the domestic pension sector. |
| 💼 Market | London Stock Exchange (LSE) | Listed on the LSE, ensuring liquidity and transparent trading for investors. |
| 🏛️ ISIN code | GB00BGXQNP29 | Unique identifier for trading and compliance purposes. |
| 👤 CEO | Andy Briggs | Experienced leadership driving strategic execution and operational improvements. |
| 🏢 Market cap | £5.98 billion | Significant market cap reflects Phoenix's position as a leading UK insurance group. |
| 📈 Revenue | £1,403 million (2024 operating cash generation) | Cash generation increased by 22%, highlighting financial strength and operational success. |
| 💹 EBITDA | £825 million (2024 IFRS adjusted profit) | EBITDA rose 31% year-on-year, showing improving profitability and efficiency. |
| 📊 P/E Ratio (Price/Earnings) | Negative (Current); Forward: 11.55 | Forward P/E of 11.55 is reasonable; negative current P/E due to IFRS losses is a concern. |
How much is Phoenix Group Holdings stock?
The price of Phoenix Group Holdings stock is rising this week. At present, the shares are trading at 599.00 GBX, reflecting a 0.38% gain over the past 24 hours and a weekly increase of 1.21%.
The company’s market capitalisation stands at £5.98 billion, with an average 3-month daily trading volume of 3.83 million shares.
| Metric | Value |
|---|---|
| Trailing P/E Ratio | Negative |
| Forward P/E | 11.55 |
| Dividend Yield | 9.18% |
| Beta | 0.75 |
With its attractive yield and stable market profile, Phoenix Group Holdings may appeal to UK investors looking for income and lower volatility.
Compare the best brokers in the UK!Compare brokersOur full analysis on Phoenix Group Holdings stock
Having carefully reviewed Phoenix Group Holdings’ latest financial results alongside the stock’s robust three-year price performance, we have integrated a multifaceted suite of analysis—financial metrics, technical indicators, sector data, and peer benchmarking—using our proprietary algorithms. This deep dive uncovers a maturing compounder in UK financial services, one combining compelling value, momentum, and sector leadership. So, why might Phoenix Group Holdings stock once again become a strategic entry point into the UK’s long-term savings and retirement market in 2025?
Recent performance and market context
Phoenix Group Holdings (LSE: PHNX) has delivered outsized returns over the last twelve months, advancing 14.73%, and finishing near all-time highs at 599.00 GBX as of May 2025. The momentum has been especially persistent over recent months, with a 6-month rally of 14.73% outpacing both the FTSE 100 and the broader life insurance sector index. A modest beta of 0.75 underscores a stable profile during periods of market volatility—an increasingly valued trait among investors navigating macroeconomic uncertainty.
The upwards move has been underpinned by a string of positive catalysts: 2024 outperformance on operating profits (+31%), further upgrades to medium-term guidance, and visible progress on debt reduction and cost containment—£250 million of debt repaid in 2024, with another tranche cleared early in 2025. Simultaneously, Phoenix’s exposure to the expanding UK retirement and pensions market—bolstered by favourable demographics and regulatory encouragement of private provision—has kept investor interest keen. This macro tailwind, together with consistently better-than-expected financial delivery, continues to set the backdrop for fundamental re-rating.
Technical analysis
Phoenix Group Holdings’ technical configuration reinforces its fundamental momentum, suggesting the stock is entering an especially promising phase. Current price action situates it above all major moving averages—the 20-day (595.98 GBX), 50-day (592.42 GBX), 100-day (585.32 GBX), and 200-day (564.63 GBX)—demonstrating a classic bullish trend. Notably, the recent Golden Cross, where the 50-day MA overtook the 200-day MA, historically signals the potential for extended upward moves.
- RSI (14): 58.24—indicating moderate bullishness, but shy of overbought territory, so fresh upside may remain.
- MACD: 1.95, with a positive signal line—strong continued buying action.
Support levels at 596.50, 595.49, and 593.99 GBX have absorbed selling pressure in prior downswings, while immediate resistance at 599.01-601.53 GBX marks near-term targets. The technical structure therefore suggests Phoenix is consolidating, potentially readying for a break higher. Short- and medium-term trend followers may view current levels as an ideal re-entry while longer-term investors can find confidence in the sustained positive momentum.
Fundamental analysis
- Revenue and Operating Growth: FY 2024 saw operating cash generation climb 22% to £1.40 billion, total cash generation rose impressively to £1.78 billion—well ahead of guidance—and adjusted operating profit surged 31% to £825 million.
- Earnings Power and Valuation: Although the current trailing P/E is negative due to IFRS economic variances, the forward P/E stands attractively at 11.55, materially below sector averages for blue-chip financials. A price-to-book of 3.49 and a generous 9.18% forward dividend yield (paired with a controlled 51.15% payout ratio) mean shareholders receive real income support and capital discipline.
- Structural Strengths: Phoenix is the UK’s preeminent long-term savings and retirement business, with extensive reach across brand leaders (Standard Life, SunLife, ReAssure). Its diversified model—covering insurance, asset management, and retirement solutions—enables Phoenix to weather industry cycles and capture organic growth.
- Strategic Execution: Meaningful cost savings (on track for £250 million by 2026), agile debt repayment, and active product innovation have all contributed to substantial operational de-risking and earnings visibility.
Crucially, Phoenix continues to expand market share in key verticals: its Workplace pensions business saw 13% net fund flow growth, and since its 2023 re-entry, Phoenix has seized an impressive 12% of the individual annuities market. Despite IFRS-related headline losses, operating measures underscore resilient earnings growth and prudent risk management.
Volume and liquidity
Market confidence in Phoenix is reflected in its robust liquidity profile—averaging 3.83 million shares traded daily over three months—and a substantial, well-distributed free float of nearly 797 million shares. This depth allows new capital to enter the stock without destabilising the price, helping to anchor valuation while facilitating orderly accumulation from both retail and institutional investors.
High, sustained volume during recent advances underscores that the stock’s rally is underpinned by genuine market conviction, not just momentum speculation. This liquidity also supports Phoenix’s eligibility in ISAs and SIPPs, a relevant feature for UK investors seeking both tax efficiency and defensibility.
Catalysts and positive outlook
Phoenix Group Holdings’ pipeline of bullish catalysts is as compelling as any in the sector. Upgraded financial targets are central: operating cash generation is forecast to rise at mid-single-digit rates annually, while cumulative cash generation guidance for 2024-2026 has been hiked from £4.4 billion to £5.1 billion. Adjusted operating profit targets for 2026 have also been advanced to approximately £1.1 billion.
- Product and Digital Innovation: The launch of Standard Life Smoothed Return Pension Fund, guaranteed annuity products, and digital self-service channels positions Phoenix at the forefront of the sector’s digital transformation.
- Strategic Alliances: Tie-ups with blue-chip asset managers like Schroders to launch dedicated capital growth vehicles signal further opportunity to enhance margins and asset management capabilities.
- Cost Efficiencies and Debt Action: Efficiency drives—in particular, £63 million annualised run-rate cost savings in 2024—and swift debt reduction materially reinforce the group’s balance sheet flexibility and ability to weather interest rate changes.
- Sustainability Initiatives: Focus on responsible investment and robust ESG frameworks should enhance Phoenix’s appeal to a growing base of responsible, long-horizon capital allocators.
Analyst sentiment has improved in tandem: there are eight “buy” recommendations, with a consensus target price of 628.29 GBX—representing a 14.86% implied upside from current levels. In a sector awash with regulatory noise and margin compression, Phoenix’s blend of scale, brand equity, and operational agility remains rare.
Investment strategies
- Short-term: The consolidation just below all-time highs, tightly above major support levels, and a bullish technical setup (supported by the Golden Cross) reward nimble traders prepared to capture momentum-driven gains—especially ahead of the ex-dividend date (April 3, 2025) and next dividend payment.
- Medium-term: Upgraded profit and cash generation targets through 2026, alongside an improving macro backdrop for pensions and annuities, offer scope for re-rating. Investors targeting intermediate appreciation in defensive, high-yield UK equities could find Phoenix a core sector position.
- Long-term: The combination of a progressive, well-covered 9.18% dividend yield and expanding digital, demographic, and regulatory tailwinds supports Phoenix as a foundational income and growth holding. The group’s sector leadership, operational execution, and attractive valuation relative to prospective cashflows all reinforce its mismatch of quality and price.
In summary, an ideal positioning may be found on minor technical pullbacks toward strong supports (596-594 GBX), or as part of a planned accumulation ahead of forthcoming catalysts such as mid-year results or capital markets days.
Is it the right time to buy Phoenix Group Holdings?
Phoenix Group Holdings today presents a standout investment profile: defensive scale, strong and growing cashflows, expanded market share, and premium brands—all available at an attractive valuation and with significant yield support. Technical and liquidity signals are aligned, and catalysts for further earnings and operational upgrades create a notably positive asymmetry for new entrants.
Notwithstanding the usual sector risks (macro, regulatory, or accounting headline volatility), the company’s demonstrable commitment to cost discipline, debt reduction, dividend progression, and digital enablement suggest the stock may be entering a fresh bullish phase. Whether seeking timely entry for yield, value, or moderate growth, the current constellation of fundamentals justifies renewed attention from investors.
At a moment where many UK income stocks face both structural and cyclical headwinds, Phoenix Group Holdings stands apart. For those seeking sector-leading yield with tangible growth and defensive qualities, the current share price level seems to represent an excellent opportunity to gain exposure to a high-quality, forward-focused leader in retirement services. With technicals, fundamentals, and market sentiment all aligning, Phoenix Group Holdings is a stock that serious investors will want firmly on their radar as we look towards 2025 and beyond.
How to buy Phoenix Group Holdings stock in United Kingdom?
Buying Phoenix Group Holdings stock online is both straightforward and secure when you use a regulated UK broker. Investors have two main options: purchasing actual shares for long-term ownership (spot buying) or trading Contracts for Difference (CFDs) for more dynamic, leveraged exposure. Spot buying means you own the shares outright, while CFDs allow you to speculate on price movements with greater flexibility. Each method has its advantages, depending on your objectives and risk appetite. To choose the right broker and trading method, it is wise to compare fees, features, and regulations—a detailed broker comparison is available further down the page.
Spot Buying
When you buy Phoenix Group Holdings shares for cash ("spot buying"), you become a shareholder in the company, entitling you to dividends and voting rights. Most UK brokers charge a fixed commission per trade—typically between £3 and £10, with £5 being common for online platforms.
Example
Suppose Phoenix Group Holdings trades at 599 GBX (or £5.99 per share). With a £1,000 investment and a £5 brokerage fee, you can buy roughly: £1,000 – £5 = £995 to invest. Number of shares = £995 ÷ £5.99 ≈ 166 shares.
✔️ Gain scenario
If the share price increases by 10%, your 166 shares are now worth £1,100. Result: +£100 gross gain, representing a 10% return on your initial investment.
Trading via CFD
CFD (Contract for Difference) trading lets you speculate on Phoenix Group Holdings' share price movements without owning the shares. Using CFDs, you can access leverage—magnifying both your potential gains and losses. Typical fees include the spread (the difference between buy and sell prices) and overnight financing charges for positions held beyond one day.
Example
You open a CFD on Phoenix Group Holdings with a £1,000 deposit and 5x leverage, giving you exposure to £5,000 worth of shares.
✔️ Gain scenario
If the share price rises by 8%, your position earns 8% × 5 = 40%. Result: +£400 gain on your £1,000 margin (before fees). Remember, leveraged trading also increases risk.
Final Advice
Before investing in Phoenix Group Holdings, take time to compare brokers’ fees, trading tools, and account features. Your choice will depend on your individual goals—whether you’re seeking steady dividends as a shareholder or dynamic, leveraged trades as a CFD trader. To assist your decision, a detailed broker comparator is available further down the page. Always invest with awareness and select a broker that suits your needs.
Is EightCap reliable?
Yes, EightCap is a trusted platform, regulated by the FCA (UK) and the ASIC (Australia). Since 2009, it has ensured the security of funds with segregated accounts and a rigorously regulated trading environment. If you are looking for a reliable broker to get started, EightCap is a safe platform, recognised in the industry.
Why choose EightCap?
EightCap combines performance and flexibility. The platform offers a wide selection of assets and tools like TradingView, perfect for demanding traders. Are you a novice? No problem: its demo accounts and innovative integrations like TradingView make learning intuitive and efficient.
What are the fees at EightCap?
At EightCap, fees depend on the account you choose: Raw accounts display spreads starting from 0 pips, with a commission of $3.5 per lot. Standard accounts, on the other hand, have slightly higher spreads but no commissions. No fees on deposits or withdrawals, for clear and controlled costs.
Who is EightCap for?
Whether you are a beginner or an experienced trader, EightCap is designed to meet your needs. Are you starting out? Take advantage of guides and demo accounts to understand the basics. Are you more advanced? Tools like TradingView and competitive spreads will allow you to go further in your strategies.
Is it easy to withdraw your money from EightCap?
Withdrawing your winnings on EightCap is simple and fast. Requests are processed within 24 hours and you can use flexible options such as bank transfer, cards or electronic wallets. Security and speed are at the heart of the service.
Is EightCap reliable?
Yes, EightCap is a trusted platform, regulated by the FCA (UK) and the ASIC (Australia). Since 2009, it has ensured the security of funds with segregated accounts and a rigorously regulated trading environment. If you are looking for a reliable broker to get started, EightCap is a safe platform, recognised in the industry.
Why choose EightCap?
EightCap combines performance and flexibility. The platform offers a wide selection of assets and tools like TradingView, perfect for demanding traders. Are you a novice? No problem: its demo accounts and innovative integrations like TradingView make learning intuitive and efficient.
What are the fees at EightCap?
At EightCap, fees depend on the account you choose: Raw accounts display spreads starting from 0 pips, with a commission of $3.5 per lot. Standard accounts, on the other hand, have slightly higher spreads but no commissions. No fees on deposits or withdrawals, for clear and controlled costs.
Who is EightCap for?
Whether you are a beginner or an experienced trader, EightCap is designed to meet your needs. Are you starting out? Take advantage of guides and demo accounts to understand the basics. Are you more advanced? Tools like TradingView and competitive spreads will allow you to go further in your strategies.
Is it easy to withdraw your money from EightCap?
Withdrawing your winnings on EightCap is simple and fast. Requests are processed within 24 hours and you can use flexible options such as bank transfer, cards or electronic wallets. Security and speed are at the heart of the service.
Is eToro reliable?
Yes, eToro is a reliable platform, regulated by leading authorities, including the FCA (United Kingdom), ASIC (Australia), and CySEC in Europe. With over 30 million users worldwide, eToro is widely recognised for its security and transparency. According to our analysis, this broker is among the most reliable in the market, and we have not found any complaints regarding the security of funds.
Why choose eToro?
With eToro, you don't need to be an expert to get started. Its intuitive interface and unique tool, the CopyTrader, allow you to copy the best traders to learn while you invest.
You get access to thousands of assets, such as stocks, cryptos, Forex and commodities, all with an active community to exchange ideas: eToro makes investing simple, interactive and educational. It's like the Spotify of investing.
What are the fees at eToro?
eToro is transparent about its fees: no commission on the purchase of shares or ETFs. Spreads vary depending on the asset, but remain very affordable.
Deposit is free, and withdrawal is set at $5. In the event that you remain inactive for 12 months or more, a fee of $10 per month applies.
Finally, the fees charged are also clearly mentioned on its website (we can't say the same for all competitors).
Who is eToro for?
eToro is mainly aimed at beginners and intermediates, thanks to its simplicity and its educational approach. If you want to diversify your portfolio or learn by observing the best traders, this platform is ideal.
Investors looking for a modern and intuitive experience will also find their account here, with a key argument: a real variety of assets (stocks, cryptocurrencies, ETFs).
Is it easy to withdraw your money from eToro?
Yes, withdrawing your winnings from eToro is as easy as investing. With options like PayPal, bank transfer or credit card, eToro processes your requests within 1 to 3 business days.
The platform guarantees transparency of fees, and the procedure is explained step by step, ensuring you have permanent access to your funds. After analysing thousands of customer cases, no such problem has been reported.
Is eToro reliable?
Yes, eToro is a reliable platform, regulated by leading authorities, including the FCA (United Kingdom), ASIC (Australia), and CySEC in Europe. With over 30 million users worldwide, eToro is widely recognised for its security and transparency. According to our analysis, this broker is among the most reliable in the market, and we have not found any complaints regarding the security of funds.
Why choose eToro?
With eToro, you don't need to be an expert to get started. Its intuitive interface and unique tool, the CopyTrader, allow you to copy the best traders to learn while you invest.
You get access to thousands of assets, such as stocks, cryptos, Forex and commodities, all with an active community to exchange ideas: eToro makes investing simple, interactive and educational. It's like the Spotify of investing.
What are the fees at eToro?
eToro is transparent about its fees: no commission on the purchase of shares or ETFs. Spreads vary depending on the asset, but remain very affordable.
Deposit is free, and withdrawal is set at $5. In the event that you remain inactive for 12 months or more, a fee of $10 per month applies.
Finally, the fees charged are also clearly mentioned on its website (we can't say the same for all competitors).
Who is eToro for?
eToro is mainly aimed at beginners and intermediates, thanks to its simplicity and its educational approach. If you want to diversify your portfolio or learn by observing the best traders, this platform is ideal.
Investors looking for a modern and intuitive experience will also find their account here, with a key argument: a real variety of assets (stocks, cryptocurrencies, ETFs).
Is it easy to withdraw your money from eToro?
Yes, withdrawing your winnings from eToro is as easy as investing. With options like PayPal, bank transfer or credit card, eToro processes your requests within 1 to 3 business days.
The platform guarantees transparency of fees, and the procedure is explained step by step, ensuring you have permanent access to your funds. After analysing thousands of customer cases, no such problem has been reported.
Is AvaTrade reliable?
AvaTrade is a trusted broker, regulated by major institutions including the Central Bank of Ireland, ASIC (Australia) and FSA (Japan). Operating since 2006, it offers strong guarantees, including the segregation of client funds and strict adherence to international standards. With over 300,000 active users, it inspires confidence in both beginner and experienced traders.
Why choose AvaTrade?
AvaTrade combines simplicity and expertise. The free tutorials, demo accounts and training help you learn at your own pace. Advanced tools like MT4/MT5 offer endless possibilities once you progress. You don’t need to be an expert: AvaTrade adapts to you.
What are the fees at AvaTrade?
AvaTrade offers simple and affordable fees: competitive fixed spreads, no deposit or withdrawal fees, and avoidable inactivity costs with regular use. You can focus on learning and your investments, without any surprises when it comes to paying.
Who is AvaTrade for?
AvaTrade is for everyone: beginners can benefit from detailed educational content and demo accounts, while advanced traders will find tools like automated trading or Vanilla options. If you’re looking for a reliable platform to develop your skills or diversify your assets, AvaTrade is an excellent choice.
Is it easy to withdraw money from AvaTrade?
Yes, AvaTrade offers a fast and secure withdrawal process. Once your account is verified, your requests are processed within 1 to 2 business days. You can use various options such as bank cards, bank transfer or electronic wallets. Everything is designed to give you quick, clear and secure access.
Is AvaTrade reliable?
AvaTrade is a trusted broker, regulated by major institutions including the Central Bank of Ireland, ASIC (Australia) and FSA (Japan). Operating since 2006, it offers strong guarantees, including the segregation of client funds and strict adherence to international standards. With over 300,000 active users, it inspires confidence in both beginner and experienced traders.
Why choose AvaTrade?
AvaTrade combines simplicity and expertise. The free tutorials, demo accounts and training help you learn at your own pace. Advanced tools like MT4/MT5 offer endless possibilities once you progress. You don’t need to be an expert: AvaTrade adapts to you.
What are the fees at AvaTrade?
AvaTrade offers simple and affordable fees: competitive fixed spreads, no deposit or withdrawal fees, and avoidable inactivity costs with regular use. You can focus on learning and your investments, without any surprises when it comes to paying.
Who is AvaTrade for?
AvaTrade is for everyone: beginners can benefit from detailed educational content and demo accounts, while advanced traders will find tools like automated trading or Vanilla options. If you’re looking for a reliable platform to develop your skills or diversify your assets, AvaTrade is an excellent choice.
Is it easy to withdraw money from AvaTrade?
Yes, AvaTrade offers a fast and secure withdrawal process. Once your account is verified, your requests are processed within 1 to 2 business days. You can use various options such as bank cards, bank transfer or electronic wallets. Everything is designed to give you quick, clear and secure access.
Our 7 tips for buying Phoenix Group Holdings stock
| 📊 Step | 📝 Specific tip for Phoenix Group Holdings |
|---|---|
| Analyse the market | Review long-term trends in the UK life insurance and pensions sector, as Phoenix Group Holdings benefits from an ageing population and growing retirement needs. |
| Choose the right investment platform | Use a UK-based, FCA-regulated trading platform that offers access to the London Stock Exchange and enables investment in ISAs or SIPPs for tax efficiency with Phoenix Group Holdings. |
| Define your investment budget | Set a clear budget, considering Phoenix Group Holdings’ relatively high dividend yield and moderate volatility, to avoid overexposure and maintain investment diversification. |
| Choose a strategy (short or long term) | For most UK investors, adopting a long-term, income-focused approach best leverages Phoenix Group Holdings’ strong dividend policy and track record of cash generation. |
| Monitor news and financial results | Track quarterly and annual updates from Phoenix Group Holdings, paying special attention to dividend announcements, target upgrades, and shifts in regulatory or economic conditions. |
| Use risk management tools | Take advantage of stop-loss orders and regular portfolio reviews to manage exposure to Phoenix Group Holdings, especially given potential sensitivities to interest rates and regulations. |
| Sell at the right time | Consider taking profits near technical resistance points or if Phoenix Group Holdings’ financial outlook or sector conditions deteriorate, while remaining mindful of dividend dates. |
The latest news about Phoenix Group Holdings
Phoenix Group Holdings’ shares have reached the upper end of their 52-week range with sustained positive momentum. Trading at 599.00 GBX as of May 2, 2025, the stock has climbed 1.21% over the past seven days and almost 15% year-over-year, demonstrating robust market confidence. This rally is also underpinned by the stock’s current position above all major moving averages, confirmed bullish MACD signals, and a recent Golden Cross, all of which mark a technically strong “Buy” environment. Such technical outperformance has captured positive attention from UK market participants, solidifying Phoenix’s status as a resilient large-cap within the local financial sector.
The company delivered outstanding financial results for fiscal 2024, with record cash generation and strong profit growth. Operating cash generation surged by 22% year-on-year to £1,403 million, while IFRS adjusted operating profit increased by 31% to £825 million. Total cash generation for the year exceeded the upper end of management’s target, reaching £1,779 million and highlighting the efficacy of the group’s focused business strategy. Consequently, these results triggered an upward revision of performance targets out to 2026, setting new benchmarks that are being well received by investors and analysts in the UK.
Phoenix Group continues to strengthen its position in the UK pensions and annuity markets, securing new growth opportunities. Its workplace pensions division reported a 13% rise in net fund flows, maintaining a coveted top-3 ranking locally. The company’s re-entry into individual annuities has rapidly built a 12% share of that market, showcasing effective execution on strategic growth plans designed for the evolving UK retirement landscape. These achievements enhance brand value and support long-term growth prospects, critical for UK residents relying on secure retirement solutions.
The company’s progressive dividend policy remains a central attraction, with a forward yield of 9.18% and a recent payout increase. The Board approved a final dividend of 27.35 pence per share for 2024 (a 2.6% rise), bringing the total annual payout to 54.00 pence. This offers UK shareholders a stable and growing income stream, complemented by a sustainable payout ratio and timely upcoming payment date in May, reinforcing Phoenix’s appeal in a low-interest-rate environment and within tax-advantaged accounts such as ISAs and SIPPs.
Phoenix’s strategic initiatives—cost savings, digital innovation, and partnerships—continue to drive operational resilience and market differentiation. Having achieved £63 million in run-rate cost savings in 2024, the company remains on track for its ambitious £250 million target by 2026. Meanwhile, digital self-service tools, new product launches, and the strategic alliance with Schroders to boost private market investments underline the group’s commitment to innovation and long-term value creation, resonating strongly with analysts and policyholders in the UK market.
FAQ
What is the latest dividend for Phoenix Group Holdings stock?
Phoenix Group Holdings currently pays a dividend. The latest final dividend is 27.35 pence per share, with the next payment scheduled for May 21, 2025, and an ex-dividend date of April 3, 2025. The total annual dividend stands at 54.00 pence per share, reflecting a progressive and sustainable policy. The forward yield is notably high, which appeals to income-oriented investors, and the company’s payout ratio indicates this dividend remains well covered by operating cash generation.
What is the forecast for Phoenix Group Holdings stock in 2025, 2026, and 2027?
Based on the current share price of 599.00 GBX, projections are as follows: end of 2025 at 778.00 GBX, end of 2026 at 898.50 GBX, and end of 2027 at 1,198.00 GBX. These outlooks align with broader momentum in the UK financial sector and Phoenix Group Holdings’ upgraded financial targets. The company’s robust market position, ongoing corporate initiatives, and strong cash flow underpin optimism for potential capital growth over the coming years.
Should I sell my Phoenix Group Holdings shares?
Given Phoenix Group Holdings’ solid fundamentals, including resilient cash generation, upgraded profit targets, and a leading position in the retirement solutions market, holding shares may be a prudent approach for long-term investors. The stock demonstrates both income and growth potential, and recent technical trends remain positive. The company’s track record of strategic delivery and cost discipline further supports confidence in its future prospects within the sector.
Are dividends from Phoenix Group Holdings shares eligible for tax-free treatment in a UK ISA?
Yes, dividends and capital gains from Phoenix Group Holdings shares are eligible for full tax exemption when held in an Individual Savings Account (ISA) in the UK. This means there is no UK income tax or capital gains tax on returns within the ISA wrapper. Investors should note that outside an ISA, dividends are subject to taxation above the £1,000 annual allowance (as of 2025).
What is the latest dividend for Phoenix Group Holdings stock?
Phoenix Group Holdings currently pays a dividend. The latest final dividend is 27.35 pence per share, with the next payment scheduled for May 21, 2025, and an ex-dividend date of April 3, 2025. The total annual dividend stands at 54.00 pence per share, reflecting a progressive and sustainable policy. The forward yield is notably high, which appeals to income-oriented investors, and the company’s payout ratio indicates this dividend remains well covered by operating cash generation.
What is the forecast for Phoenix Group Holdings stock in 2025, 2026, and 2027?
Based on the current share price of 599.00 GBX, projections are as follows: end of 2025 at 778.00 GBX, end of 2026 at 898.50 GBX, and end of 2027 at 1,198.00 GBX. These outlooks align with broader momentum in the UK financial sector and Phoenix Group Holdings’ upgraded financial targets. The company’s robust market position, ongoing corporate initiatives, and strong cash flow underpin optimism for potential capital growth over the coming years.
Should I sell my Phoenix Group Holdings shares?
Given Phoenix Group Holdings’ solid fundamentals, including resilient cash generation, upgraded profit targets, and a leading position in the retirement solutions market, holding shares may be a prudent approach for long-term investors. The stock demonstrates both income and growth potential, and recent technical trends remain positive. The company’s track record of strategic delivery and cost discipline further supports confidence in its future prospects within the sector.
Are dividends from Phoenix Group Holdings shares eligible for tax-free treatment in a UK ISA?
Yes, dividends and capital gains from Phoenix Group Holdings shares are eligible for full tax exemption when held in an Individual Savings Account (ISA) in the UK. This means there is no UK income tax or capital gains tax on returns within the ISA wrapper. Investors should note that outside an ISA, dividends are subject to taxation above the £1,000 annual allowance (as of 2025).
