Legal & General Group (LON:LGEN) Reaches New 12-Month High – Here’s What Happened

Legal & General Group Plc (LON:LGEN) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 295.90 and last traded at GBX 292.38, with a volume of 335710219 shares traded. The stock had previously closed at GBX 292.60.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Legal & General Group from GBX 249 to GBX 251 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada upped 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. Berenberg Bank restated a “buy” rating and set a GBX 308 price target on shares of Legal & General Group in a research report on Friday, May 1st. Finally, Jefferies Financial Group lowered Legal & General Group to an “underperform” rating and set a GBX 185 price target for the company. in a research note on Tuesday, May 5th. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 251.

Legal & General Group Price Performance

The firm has a market capitalization of £16.01 billion, a P/E ratio of 30.02, a PEG ratio of 2.34 and a beta of 0.79. The business’s 50-day simple moving average is GBX 274.99 and its 200 day simple moving average is GBX 265.14. The company has a quick ratio of 0.50, a current ratio of 59.08 and a debt-to-equity ratio of 1,100.04.

Insider Buying and Selling

In other Legal & General Group news, insider Ric Lewis bought 931 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of GBX 253 per share, for a total transaction of £2,355.43. Also, insider Mark Jordy purchased 3,683 shares of the stock in a transaction on Wednesday, July 1st. The stock was acquired at an average cost of GBX 287 per share, with a total value of £10,570.21. Insiders have bought 8,519 shares of company stock worth $2,299,198 in the last ninety days. 0.59% of the stock is currently owned by insiders.

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.