Key Points
- Insider Andrew Kail bought 82 shares of Legal & General Group on June 1 at GBX 268 per share, following a smaller purchase earlier in May.
- The stock was up 1.2% and opened at GBX 269.80, with the company valued at about £15.04 billion and trading near its 50-day and 200-day moving averages.
- Legal & General continues its share repurchase program, which management often uses as a signal that the stock may be undervalued and can support earnings per share.
Legal & General Group Plc (LON:LGEN - Get Free Report) insider Andrew Kail acquired 82 shares of the company's stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of GBX 268 per share, for a total transaction of £219.76.
Andrew Kail also recently made the following trade(s):
- On Friday, May 1st, Andrew Kail acquired 87 shares of Legal & General Group stock. The shares were acquired at an average cost of GBX 254 per share, for a total transaction of £220.98.
- On Monday, April 20th, Andrew Kail sold 204,858 shares of Legal & General Group stock. The shares were sold at an average price of GBX 271, for a total transaction of £555,165.18.
- On Tuesday, April 7th, Andrew Kail sold 85,011 shares of Legal & General Group stock. The shares were sold at an average price of GBX 255, for a total transaction of £216,778.05.
Legal & General Group Stock Up 1.2%
LON LGEN opened at GBX 269.80 on Wednesday. The company has a market cap of £15.04 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. Legal & General Group Plc has a 52 week low of GBX 217.20 and a 52 week high of GBX 300. The firm's 50-day simple moving average is GBX 257.08 and its two-hundred day simple moving average is GBX 257.12.
Legal & General Group (LON:LGEN - Get Free Report) last released 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%. As a group, equities research analysts anticipate that Legal & General Group Plc will post 24.2376446 EPS for the current year.
Legal & General Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Trending Headlines about Legal & General Group
Here are the key news stories impacting Legal & General Group this week:
- Positive Sentiment: Insider buying continued, with Andrew Kail purchasing 82 shares and Mark Jordy buying 980 shares at GBX 268 per share, reinforcing confidence from within the company. Legal & General Group insider purchase report
- Positive Sentiment: Legal & General disclosed share option exercises and employee-plan purchases by senior executives, including Chief Risk Officer Chris Knight, which can signal alignment between management and shareholders. Chief Risk Officer share option exercise
- Positive Sentiment: The company is still actively executing its buyback program, including repurchasing and cancelling millions of shares, which can be supportive for earnings per share and sentiment. Share buyback and cancellation update
- Neutral Sentiment: Legal & General added new shares tied to its Sharesave scheme and updated share capital/voting rights after buybacks; these are routine corporate actions with limited near-term business impact. Sharesave scheme and share capital update
- Neutral Sentiment: Recent commentary focused on the dividend and valuation, which may be helping investors view LGEN as an income name, but these were not direct catalysts. Dividend payday article
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. 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. Royal Bank Of Canada increased their price target on shares of Legal & General Group from GBX 205 to GBX 220 and gave the company an "underperform" rating in a research report on Monday, March 23rd. Citigroup boosted their target price on Legal & General Group from GBX 243 to GBX 249 and gave the company a "neutral" rating in a research note on Tuesday, March 24th. Finally, Jefferies Financial Group cut Legal & General Group to an "underperform" rating and set a GBX 185 target price for the company. in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of GBX 250.71.
Get Our Latest Report on LGEN
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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