Legal & General Group (LON:LGEN) Hits New 1-Year High After Insider Buying Activity

Legal & General Group Plc (LON:LGEN)’s share price reached a new 52-week high on Tuesday following insider buying activity. The stock traded as high as GBX 268.80 and last traded at GBX 268.60, with a volume of 108903422 shares changing hands. The stock had previously closed at GBX 265.50.

Specifically, insider Mark Jordy acquired 1,006 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was bought at an average price of GBX 261 per share, for a total transaction of £2,625.66. Also, insider Ric Lewis bought 868 shares of the stock in a transaction on Friday, January 2nd. The shares were bought at an average price of GBX 261 per share, for a total transaction of £2,265.48. In other Legal & General Group news, insider Laura Wade-Gery purchased 957 shares of the stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of GBX 261 per share, for a total transaction of £2,497.77.

Wall Street Analysts Forecast Growth

LGEN has been the subject of a number of recent analyst reports. Peel Hunt reaffirmed an “add” rating and issued a GBX 255 price objective on shares of Legal & General Group in a research report on Wednesday, October 15th. Berenberg Bank boosted their target price on shares of Legal & General Group from GBX 265 to GBX 289 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Royal Bank Of Canada raised their target price on shares of Legal & General Group from GBX 200 to GBX 210 and gave the stock an “underperform” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 257.25.

Legal & General Group Trading Down 1.2%

The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50. The stock has a market cap of £14.77 billion, a P/E ratio of 58.82, a P/E/G ratio of 2.34 and a beta of 1.31. The company has a 50-day simple moving average of GBX 248.47 and a 200-day simple moving average of GBX 247.69.

Legal & General Group (LON:LGEN) last announced its earnings results on Monday, December 15th. The financial services provider reported GBX 2.89 earnings per share for the quarter. Legal & General Group had a return on equity of 7.79% and a net margin of 0.67%. On average, sell-side analysts forecast that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

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.