Legal & General Group Plc (LON:LGEN) Receives Consensus Rating of “Hold” from Analysts

Shares of Legal & General Group Plc (LON:LGEN) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is GBX 250.71.

A number of analysts have weighed in on LGEN shares. The Goldman Sachs Group raised their price target on Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a research note on Wednesday, January 21st. Citigroup lifted their target price on Legal & General Group from GBX 243 to GBX 249 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Berenberg Bank reiterated a “buy” rating and set a GBX 308 target price on shares of Legal & General Group in a research report on Friday, May 1st. Jefferies Financial Group cut Legal & General Group to an “underperform” rating and set a GBX 185 target price on the stock. in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their target price on Legal & General Group from GBX 205 to GBX 220 and gave the stock an “underperform” rating in a research report on Monday, March 23rd.

Insider Buying and Selling at Legal & General Group

In other news, insider Laura Wade-Gery bought 988 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of GBX 253 per share, for a total transaction of £2,499.64. Also, insider Ric Lewis bought 931 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of GBX 253 per share, for a total transaction of £2,355.43. In the last three months, insiders have acquired 7,085 shares of company stock valued at $1,840,038 and have sold 410,095 shares valued at $106,048,563. 0.59% of the stock is currently owned by company insiders.

Legal & General Group Price Performance

Legal & General Group stock opened at GBX 247 on Wednesday. Legal & General Group has a 1-year low of GBX 217.20 and a 1-year high of GBX 279.50. The stock has a market cap of £13.77 billion, a PE ratio of 25.36, a P/E/G ratio of 2.34 and a beta of 0.80. The stock’s fifty day moving average is GBX 253.14 and its two-hundred day moving average is GBX 254.67.

Legal & General Group (LON:LGEN) last posted its quarterly earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 earnings per share 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 expect that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

Legal & General Group announced that its board has approved a share buyback program on Wednesday, March 11th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Legal & General Group

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.