JPMorgan Chase & Co. Cuts Legal & General Group (LON:LGEN) Price Target to GBX 270

Legal & General Group (LON:LGEN) had its target price trimmed by JPMorgan Chase & Co. from GBX 285 to GBX 270 in a research report sent to investors on Thursday morning, MarketBeat reports. The firm currently has an underweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the company. Peel Hunt restated an “add” rating and set a GBX 320 price target on shares of Legal & General Group in a research note on Tuesday, August 4th. Berenberg Bank raised their price objective on Legal & General Group from GBX 353 to GBX 385 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup lowered Legal & General Group to a “sell” rating and decreased their price objective for the stock from GBX 251 to GBX 245 in a report on Monday, August 10th. Jefferies Financial Group restated an “underperform” rating and set a GBX 185 price objective on shares of Legal & General Group in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Legal & General Group from GBX 255 to GBX 270 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of GBX 276.86.

Legal & General Group Stock Performance

LON:LGEN opened at GBX 301.77 on Thursday. The firm’s 50-day moving average is GBX 292.13 and its 200-day moving average is GBX 271.21. Legal & General Group has a 52-week low of GBX 217.20 and a 52-week high of GBX 318.10. The company has a market cap of £16.48 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.34 and a beta of 0.80.

Legal & General Group (LON:LGEN) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported GBX 8.01 EPS for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 27.28%. Equities analysts predict that Legal & General Group will post 24.2376446 EPS for the current year.

Insider Transactions at Legal & General Group

In other Legal & General Group news, insider Mark Jordy purchased 3,683 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average price of GBX 287 per share, with a total value of £10,570.21. Insiders have bought a total of 8,390 shares of company stock valued at $2,444,751 over the last three months. Corporate insiders own 0.61% 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.