Legal & General Group (LON:LGEN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Legal & General Group Plc (LON:LGEN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 266.67 and traded as high as GBX 302.35. Legal & General Group shares last traded at GBX 300.85, with a volume of 16,425,861 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on LGEN. Citigroup increased their price target on shares of Legal & General Group from GBX 249 to GBX 251 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Jefferies Financial Group downgraded Legal & General Group to an “underperform” rating and set a GBX 185 price objective for the company. in a research report on Tuesday, May 5th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 308 target price on shares of Legal & General Group in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Legal & General Group has an average rating of “Hold” and an average price target of GBX 251.

Legal & General Group Price Performance

The company has a market capitalization of £16.37 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 2.34 and a beta of 0.79. The company has a fifty day simple moving average of GBX 281.33 and a two-hundred day simple moving average of GBX 266.93. The company has a debt-to-equity ratio of 1,100.04, a quick ratio of 0.50 and a current ratio of 59.08.

Insiders Place Their Bets

In other Legal & General Group news, insider John Kingman bought 650 shares of Legal & General Group stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost of GBX 253 per share, for a total transaction of £1,644.50. Also, insider Ric Lewis bought 931 shares of Legal & General Group stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of GBX 253 per share, for a total transaction of £2,355.43. Over the last ninety days, insiders have bought 8,519 shares of company stock valued at $2,299,198. 0.59% of the stock is 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.