Legal & General Group (LON:LGEN) Hits New 52-Week High – Should You Buy?

Shares of Legal & General Group Plc (LON:LGEN) reached a new 52-week high on Thursday. The company traded as high as GBX 398.19 and last traded at GBX 297.70, with a volume of 16,466,510 shares. The stock had previously closed at GBX 300.85.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LGEN. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 185 price target on shares of Legal & General Group in a report on Wednesday, August 5th. Citigroup downgraded shares of Legal & General Group to a “sell” rating and decreased their price objective for the company from GBX 251 to GBX 245 in a report on Monday, August 10th. JPMorgan Chase & Co. reduced their target price on shares of Legal & General Group from GBX 285 to GBX 270 and set an “underweight” rating for the company in a report on Thursday, August 13th. Royal Bank Of Canada reiterated an “underperform” rating and issued a GBX 270 price target on shares of Legal & General Group in a research note on Wednesday, September 2nd. Finally, Peel Hunt reissued an “add” rating and issued a GBX 320 price target on shares of Legal & General Group in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of GBX 276.86.

Legal & General Group Stock Up 0.0%

The stock has a market capitalization of £16.02 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 2.34 and a beta of 0.81. The business’s 50 day simple moving average is GBX 293.09 and its 200-day simple moving average is GBX 283.27.

Legal & General Group (LON:LGEN) last released its earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 EPS for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 27.28%. On average, analysts expect that Legal & General Group Plc will post 24.24 earnings per share for the current year.

Insider Activity at Legal & General Group

In related news, insider Mark Jordy bought 3,671 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were purchased at an average price of GBX 288 per share, for a total transaction of £10,572.48. Insiders have bought a total of 11,042 shares of company stock valued at $3,240,907 over the last three months. 0.59% of the stock is currently owned by corporate 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.