Key Points
- Insider buying: Legal & General Group insider Mark Jordy bought 3,683 shares on July 1 for about £10,570 at GBX 287 per share. He had also purchased shares in June and May, signaling repeated insider accumulation.
- Share price and valuation: The stock opened at GBX 285.60, near its 52-week high of GBX 302.30 and above both its 50-day and 200-day moving averages. The company’s market cap is about £15.67 billion, with a P/E ratio of 29.32.
- Analyst sentiment: Broker views are mixed, with ratings ranging from buy to sell and an overall Hold consensus. The average target price cited is GBX 573.71, while recent notes included target increases, a downgrade, and one reiterated buy rating.
Legal & General Group Plc (LON:LGEN - Get Free Report) insider Mark Jordy acquired 3,683 shares of the stock in a transaction dated Wednesday, July 1st. The stock was bought at an average price of GBX 287 per share, for a total transaction of £10,570.21.
Mark Jordy also recently made the following trade(s):
- On Monday, June 1st, Mark Jordy bought 980 shares of Legal & General Group stock. The stock was bought at an average cost of GBX 268 per share, with a total value of £2,626.40.
- On Friday, May 1st, Mark Jordy bought 1,040 shares of Legal & General Group stock. The shares were bought at an average price of GBX 253 per share, with a total value of £2,631.20.
Legal & General Group Price Performance
Legal & General Group stock opened at GBX 285.60 on Thursday. The business has a 50 day simple moving average of GBX 268.56 and a 200 day simple moving average of GBX 262.79. 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 company has a market capitalization of £15.67 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. Legal & General Group Plc has a one year low of GBX 217.20 and a one year high of GBX 302.30.
Legal & General Group declared that its board has initiated a stock repurchase 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 usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently commented on LGEN. Citigroup boosted their target price on shares of Legal & General Group from GBX 2,490 to GBX 2,510 and gave the company a "neutral" rating in a research note on Tuesday, June 9th. Royal Bank Of Canada increased their target price on shares of Legal & General Group from GBX 205 to GBX 220 and gave the stock an "underperform" rating in a research report on Monday, March 23rd. Jefferies Financial Group downgraded shares of Legal & General Group to an "underperform" rating and set a GBX 185 price target for the company. in a report on Tuesday, May 5th. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 308 price target 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 issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Legal & General Group presently has an average rating of "Hold" and an average target price of GBX 573.71.
Read Our Latest Research Report on LGEN
About Legal & General Group
(
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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