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

Legal & General Group Plc (LON:LGEN) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is GBX 250.71.

A number of equities research analysts recently commented on LGEN shares. Berenberg Bank restated a “buy” rating and set a GBX 308 price objective on shares of Legal & General Group in a report on Friday, May 1st. Citigroup raised their price objective on shares of Legal & General Group from GBX 243 to GBX 249 and gave the stock a “neutral” rating in a report on Tuesday, March 24th. Royal Bank Of Canada raised their price objective on shares of Legal & General Group from GBX 205 to GBX 220 and gave the stock an “underperform” rating in a report on Monday, March 23rd. Finally, Jefferies Financial Group lowered shares of Legal & General Group to an “underperform” rating and set a GBX 185 price objective on the stock. in a report on Tuesday, May 5th.

Insider Transactions at Legal & General Group

In other Legal & General Group news, insider Laura Wade-Gery purchased 988 shares of the stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of GBX 253 per share, for a total transaction of £2,499.64. Also, insider Andrew Kail sold 204,858 shares of Legal & General Group stock in a transaction on Monday, April 20th. The shares were sold at an average price of GBX 271, for a total transaction of £555,165.18. In the last ninety days, insiders acquired 4,758 shares of company stock worth $1,219,791 and sold 410,095 shares worth $106,048,563. 0.59% of the stock is currently owned by corporate insiders.

Legal & General Group Stock Up 0.3%

Shares of LON:LGEN opened at GBX 273 on Friday. Legal & General Group has a 12 month low of GBX 217.20 and a 12 month high of GBX 300. The company’s fifty day simple moving average is GBX 259.58 and its 200 day simple moving average is GBX 257.82. The firm has a market cap of £15.22 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 2.34 and a beta of 0.80.

Legal & General Group (LON:LGEN) last issued its quarterly earnings data on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 15.89%. 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 of Directors has initiated a stock repurchase plan on Wednesday, March 11th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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.