PNX stock forecast- Quick Win: 144.61% Return

PNX stock forecast

The Phoenix Companies, Inc,. (NYSE:PNX), a financial services company, was given a strongly bullish three month rating by the I Know First stock-trading algorithm, on July 24th, 2014. Amazingly, by October 24th, the stock had risen by an astounding 144.61%!

PNX stock forecast

The cause of this sharp upswing was due to a decision made by Phoenix to be bought out by Nassau Reinsurance Group Holdings L.P. Nassau is a new insurance firm, run by well known insurance industry executives Phillip J. Gass and Kostas Cheliotis and backed by Golden State Capital, a private equity firm with more than $15 billion under management.

When the deal closes, Nassau will give $100 million to Phoenix  to stabilise the balance sheet and to provide growth capital. The deal is considered by analysts to be very likely to actually close, though some hurdles, such as regulation and ant-trust laws, will have to navigated. It is expected to close in early 2016.

The buying price was at a 188% premium over the closing share price, ensuring a massive ROI for shareholders and investors. Since news of the merger has come out, many analysts are awakening to the fact that Phoenix was massively undervalued. The I Know First algorithm was alone in understanding it’s true and foreseeing such an event.

The Phoenix Companies, Inc., together with its subsidiaries, provides life insurance and annuity products in the United States. It operates in two segments, Life and Annuity, and Saybrus. It was founded in 1851 and is headquartered in Hartford, Connecticut.

Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First algorithmic traders.