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NEW YORK (Reuters) – The shares of British insurer Phoenix Group Holdings are attractive for a number of reasons, including their inclusion in a key UK stock market index and a stable and important dividend, according to Barron's.
Starting Monday, the Phoenix group will be part of the FTSE 100 Index, which means fund managers who follow this index will have to buy the stock.
The company is also expected to pay a larger dividend than its peers in the life insurance sector, according to Barron's. The article cited a report by Barclays predicting a 7.5% dividend yield in Phoenix this year, more than 7% for the Legal & General group and 6.7% for the Dutch life insurer Aegon.
Phoenix group shares rose 24% in 2019.
Report by Lewis Krauskopf; Edited by Cynthia Osterman
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