Company Overview: Phoenix Education Partners, based in Phoenix, Arizona, has filed for an initial public offering (IPO) in the United States, marking a significant move as the IPO market begins to recover from its seasonal lull in August.
Financial Performance: For the nine months ending May 31, the company reported a net income of $118 million on revenues of $750 million, showing growth from the previous year’s net income of $105 million on $710 million in revenue.
Business Operations
Educational Offerings: The company, which operates through its subsidiary University of Phoenix, provides online educational programs aimed at working adults. It offers 72 degree programs and 33 certificate programs across various disciplines.
Historical Context: Founded in 1976, Phoenix Education is one of the largest online education providers in the U.S. Its predecessor, Apollo Education Group, was taken private in 2017 in a $1.1 billion deal involving Apollo Global Management and Vistria Group.
Market Context and Underwriters
IPO Market Trends: The filing comes as several large corporate issuers prepare for potential IPOs this fall, indicating a revitalization of the new listings market.
Underwriters: The IPO will be underwritten by major financial institutions including Morgan Stanley, Goldman Sachs, BMO Capital Markets, and Jefferies. The company plans to list on the New York Stock Exchange under the ticker symbol "PXED".
Recent Developments
Related Market Activity: This IPO filing follows the successful flotation of Apollo portfolio company Aspen Insurance, which is now set to be acquired by Japan's Sompo.
AHL
$37.09+Infinity%1D
Analyst Views on AHL
Wall Street analysts forecast AHL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AHL is 37.50 USD with a low forecast of 37.50 USD and a high forecast of 37.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast AHL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AHL is 37.50 USD with a low forecast of 37.50 USD and a high forecast of 37.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
1 Hold
0 Sell
Hold
Current: 37.110
Low
37.50
Averages
37.50
High
37.50
Current: 37.110
Low
37.50
Averages
37.50
High
37.50
Piper Sandler
Overweight -> Neutral
downgrade
$40
2025-11-14
Reason
Piper Sandler
Price Target
$40
2025-11-14
downgrade
Overweight -> Neutral
Reason
Piper Sandler downgraded Aspen Insurance (AHL) to Neutral from Overweight with a price target of $37.50, down from $40, after the company agreed to be acquired by Sompo Holdings (SMPNY) for $37.50 per share.
BMO Capital
Michael Zaremski
Outperform -> Market Perform
downgrade
$38
2025-08-29
Reason
BMO Capital
Michael Zaremski
Price Target
$38
2025-08-29
downgrade
Outperform -> Market Perform
Reason
BMO Capital analyst Michael Zaremski downgraded Aspen Insurance (AHL) to Market Perform from Outperform with a price target of $37.50, down from $38. The downgrade comes after the announced Sompo (SMPNY) takeout, with the new $37.50 price target equal to the announced deal price, the analyst tells investors in a research note. The firm also noted that multiple news sources have reported that Enstar is suing Aspen with respect to details around the loss portfolio transfer agreement.
Jefferies
Buy
to
Hold
downgrade
$38
2025-08-29
Reason
Jefferies
Price Target
$38
2025-08-29
downgrade
Buy
to
Hold
Reason
Jefferies downgraded Aspen Insurance (AHL) to Hold from Buy with a price target of $37.50, down from $38, after the company agreed to be acquired by Sompo Holdings (SMPNY) for $37.50 per share.
Citi
Buy -> Neutral
downgrade
$43
2025-08-28
Reason
Citi
Price Target
$43
2025-08-28
downgrade
Buy -> Neutral
Reason
Citi downgraded Aspen Insurance (AHL) to Neutral from Buy with a price target of $37.50, down from $43, after the company agreed to be acquired by Sompo Holdings (SMPNY) for $37.50 per share, or $3.5B in cash. Citi sees a low likelihood of a competing takeover bid emerging for Aspen.
About AHL
Aspen Insurance Holdings Limited is a Bermuda-based holding company. The Company provides insurance and reinsurance coverage to clients in various domestic and global markets through wholly owned operating subsidiaries in Bermuda, the United States and the United Kingdom, as well as its branch operations in Canada, Singapore and Switzerland. It manages its underwriting operations as two business segments: Insurance and Reinsurance. The Insurance segment underwrites primarily specialty risks across a diversified set of property and casualty lines of business. The Insurance segment is organized into four primary portfolios of business: financial and professional lines; casualty and liability lines; first party lines, and specialty lines. The Reinsurance segment is organized into four portfolios: casualty reinsurance, property catastrophe reinsurance, other property reinsurance and specialty reinsurance. Its casualty reinsurance is written on an excess of loss and proportional basis.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
