Insider Buying: Legal & General Group Plc (LON:LGEN) Insider Purchases 2,471 Shares of Stock

Legal & General Group Plc (LON:LGEN) insider Laura Wade-Gery purchased 2,471 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of GBX 256 ($3.47) per share, for a total transaction of £6,325.76 ($8,562.21).

Laura Wade-Gery also recently made the following trade(s):

• On Monday, June 2nd, Laura Wade-Gery bought 1,084 shares of Legal & General Group stock. The shares were purchased at an average cost of GBX 251 ($3.40) per share, for a total transaction of £2,720.84 ($3,682.78).
• On Thursday, May 1st, Laura Wade-Gery bought 1,159 shares of Legal & General Group stock. The shares were purchased at an average cost of GBX 235 ($3.18) per share, for a total transaction of £2,723.65 ($3,686.59).

Legal & General Group Stock Performance

Legal & General Group stock opened at GBX 256.10 ($3.47) on Monday. The firm’s 50 day simple moving average is GBX 239.89 and its 200 day simple moving average is GBX 236.81. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18. The firm has a market capitalization of £15.01 billion, a PE ratio of 47.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. Legal & General Group Plc has a 1-year low of GBX 206.80 ($2.80) and a 1-year high of GBX 266.20 ($3.60).

Legal & General Group (LON:LGEN) last posted its quarterly earnings data on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. As a group, analysts expect that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

Legal & General Group declared that its board has initiated a share repurchase program on Wednesday, March 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Legal & General Group Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, April 24th were issued a GBX 15.36 ($0.21) dividend. This is a boost from Legal & General Group’s previous dividend of $6.00. This represents a dividend yield of 6.18%. The ex-dividend date of this dividend was Thursday, April 24th. Legal & General Group’s dividend payout ratio is presently 387.68%.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 265 ($3.59) target price on shares of Legal & General Group in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 267 ($3.61).

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.