Key Points
- António Simões sold 120,226 shares of Legal & General on March 20 at an average price of GBX 240 for about £288,542, and previously sold 47,433 shares on Dec. 31 at GBX 262 (≈£124,274).
- The board has initiated a share buyback program to repurchase shares through open-market purchases, a move often interpreted as management signaling the stock may be undervalued.
- Analysts' consensus is a Hold with an average price target of GBX 264.20; Legal & General has a market cap of ~£13.3bn and was trading near GBX 236.20.
Legal & General Group Plc (LON:LGEN - Get Free Report) insider António Simões sold 120,226 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of GBX 240, for a total value of £288,542.40.
António Simões also recently made the following trade(s):
- On Wednesday, December 31st, António Simões sold 47,433 shares of Legal & General Group stock. The shares were sold at an average price of GBX 262, for a total value of £124,274.46.
Legal & General Group Trading Down 0.0%
Shares of LON:LGEN opened at GBX 236.20 on Tuesday. Legal & General Group Plc has a 12-month low of GBX 206.80 and a 12-month high of GBX 279.50. The business has a 50 day moving average of GBX 261.70 and a two-hundred day moving average of GBX 250.56. The company has a market capitalization of £13.30 billion, a PE ratio of 52.96, a PEG ratio of 2.34 and a beta of 0.81.
Legal & General Group (LON:LGEN - Get Free Report) 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%. Equities research analysts predict that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.
Legal & General Group announced that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently commented on LGEN shares. The Goldman Sachs Group raised their price target on shares of Legal & General Group from GBX 249 to GBX 263 and gave the company a "neutral" rating in a research report on Wednesday, January 21st. Berenberg Bank reissued a "buy" rating and set a GBX 308 target price on shares of Legal & General Group in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada raised their target price on Legal & General Group from GBX 205 to GBX 220 and gave the company an "underperform" rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of GBX 264.20.
View Our Latest Stock Report on Legal & General Group
Legal & General Group Company Profile
(
Get Free Report)
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.
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