Legal & General Group Plc (LON:LGEN) Stock Now Rated “Reduce” by Wall Street Brokerages

Shares of Legal & General Group Plc (LON:LGEN) have earned an average rating of “Reduce” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is GBX 276.86.

A number of brokerages have issued reports on LGEN. Peel Hunt reiterated an “add” rating and set a GBX 320 price objective on shares of Legal & General Group in a research note on Tuesday, August 4th. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 270 target price on shares of Legal & General Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their target price on shares of Legal & General Group from GBX 285 to GBX 270 and set an “underweight” rating for the company in a research report on Thursday, August 13th. Citigroup downgraded shares of Legal & General Group to a “sell” rating and cut their price target for the stock from GBX 251 to GBX 245 in a report on Monday, August 10th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th.

Insider Buying and Selling

In other Legal & General Group news, insider Mark Jordy bought 3,671 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was purchased at an average cost of GBX 288 per share, for a total transaction of £10,572.48. Insiders have purchased 11,018 shares of company stock worth $3,240,794 in the last three months. 0.59% of the stock is owned by insiders.

Legal & General Group Stock Performance

LGEN opened at GBX 307.20 on Wednesday. Legal & General Group has a 52-week low of GBX 217.20 and a 52-week high of GBX 318.10. The firm has a market cap of £16.50 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The business’s fifty day moving average is GBX 294.42 and its 200-day moving average is GBX 277.38.

Legal & General Group (LON:LGEN) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 EPS for the quarter. Legal & General Group had a return on equity of 27.28% and a net margin of 0.91%. On average, research analysts predict that Legal & General Group will post 24.24 earnings per share for the current fiscal year.

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.