Legal & General Group (LON:LGEN) Price Target Raised to GBX 249

Legal & General Group (LON:LGEN) had its target price hoisted by Citigroup from GBX 243 to GBX 249 in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Berenberg Bank reiterated a “buy” rating and set a GBX 308 target price on shares of Legal & General Group in a research report on Thursday, March 12th. Royal Bank Of Canada increased their price target 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. Finally, The Goldman Sachs Group raised their price target on shares of Legal & General Group from GBX 249 to GBX 263 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 261.67.

Legal & General Group Trading Down 0.6%

LGEN opened at GBX 241.60 on Tuesday. The stock’s 50 day simple moving average is GBX 260.36 and its 200-day simple moving average is GBX 250.47. The stock has a market cap of £13.60 billion, a PE ratio of 54.17, a P/E/G ratio of 2.34 and a beta of 0.81. Legal & General Group has a 1 year low of GBX 206.80 and a 1 year high of GBX 279.50.

Legal & General Group (LON:LGEN) last issued its earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a return on equity of 15.89% and a net margin of 0.91%. Equities analysts forecast that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

Legal & General Group declared that its Board of Directors has approved a share buyback plan 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. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider John Kingman purchased 614 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of GBX 267 per share, for a total transaction of £1,639.38. Also, insider Mark Jordy purchased 986 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of GBX 267 per share, for a total transaction of £2,632.62. In the last three months, insiders acquired 10,428 shares of company stock worth $2,757,069. 0.59% of the stock is currently owned by company insiders.

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. 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.