Legal & General Group (LON:LGEN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Legal & General Group (LON:LGEN) had its target price increased by stock analysts at Royal Bank Of Canada from GBX 205 to GBX 220 in a note issued to investors on Monday,London Stock Exchange reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 6.86% from the stock’s current price.

Several other research analysts also recently commented on the company. The Goldman Sachs Group raised their target price on Legal & General Group from GBX 249 to GBX 263 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 308 price objective on shares of Legal & General Group in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 264.20.

Legal & General Group Stock Performance

Legal & General Group stock traded down GBX 0.10 during mid-day trading on Monday, reaching GBX 236.20. The company’s stock had a trading volume of 1,503,837,375 shares, compared to its average volume of 49,988,031. The firm’s fifty day moving average price is GBX 262.25 and its two-hundred day moving average price is GBX 250.56. Legal & General Group has a 12-month low of GBX 206.80 and a 12-month high of GBX 279.50. The company has a market capitalization of £13.30 billion, a P/E ratio of 52.96, a PEG ratio of 2.34 and a beta of 0.81.

Legal & General Group (LON:LGEN) last posted its quarterly earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a return on equity of 15.89% and a net margin of 0.91%. On average, research analysts predict that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Legal & General Group announced that its board has authorized a stock repurchase plan on Wednesday, March 11th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Mark Jordy bought 986 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost of GBX 267 per share, with a total value of £2,632.62. Also, insider Laura Wade-Gery purchased 938 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was bought at an average cost of GBX 267 per share, with a total value of £2,504.46. In the last quarter, insiders have purchased 10,428 shares of company stock worth $2,757,069. Company insiders own 0.59% of the company’s stock.

Legal & General Group Company Profile

Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates in Legal & General Retirement Institutional (LGRI), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), and Retail segments. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.