Legal & General Group (LON:LGEN) Hits New 12-Month High – Here’s What Happened

Legal & General Group Plc (LON:LGEN) shares reached a new 52-week high on Thursday . The stock traded as high as GBX 285.80 and last traded at GBX 284.72, with a volume of 12154025 shares. The stock had previously closed at GBX 282.79.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LGEN shares. Jefferies Financial Group lowered shares of Legal & General Group to an “underperform” rating and set a GBX 185 target price on the stock. in a report on Tuesday, May 5th. Citigroup increased their price target on shares of Legal & General Group from GBX 2,490 to GBX 2,510 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada lifted their price objective on shares of Legal & General Group from GBX 205 to GBX 220 and gave the company an “underperform” rating in a research note on Monday, March 23rd. Finally, Berenberg Bank restated a “buy” rating and set a GBX 308 price objective on shares of Legal & General Group in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 573.71.

Legal & General Group Price Performance

The business’s fifty day moving average price is GBX 264.14 and its 200 day moving average price is GBX 260.11. The company has a debt-to-equity ratio of 1,100.04, a current ratio of 59.08 and a quick ratio of 0.50. The stock has a market cap of £15.63 billion, a P/E ratio of 29.23, a PEG ratio of 2.34 and a beta of 0.81.

Legal & General Group declared that its board has initiated a share buyback program on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Legal & General Group news, insider António Simões sold 120,226 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of GBX 240, for a total transaction of £288,542.40. Also, insider Ric Lewis purchased 931 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average price of GBX 253 per share, with a total value of £2,355.43. Over the last 90 days, insiders have purchased 4,758 shares of company stock worth $1,219,791 and have sold 410,095 shares worth $106,048,563. 0.59% of the stock is currently owned by company insiders.

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.