Berenberg Bank Increases Legal & General Group (LON:LGEN) Price Target to GBX 289

Key Points

• Berenberg Bank has raised its price target for Legal & General Group (LON:LGEN) from GBX 265 to GBX 289, indicating a potential upside of 21.53% from its current price.
• Legal & General Group currently holds a consensus average rating of "Moderate Buy" among analysts, with a diverse rating distribution including Strong Buy, Buy, Hold, and Sell.
• Recent insider transactions show increased confidence in the company, with insiders purchasing a total of 6,694 shares worth approximately £1.68 million over the last three months.

Legal & General Group (LON:LGEN - Get Free Report) had its price target raised by equities researchers at Berenberg Bank from GBX 265 to GBX 289 in a note issued to investors on Friday,Digital Look reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Berenberg Bank's target price would suggest a potential upside of 21.53% from the company's current price.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Legal & General Group to a "neutral" rating and cut their price objective for the stock from GBX 290 to GBX 275 in a research report on Wednesday, August 13th. Royal Bank Of Canada reissued an "underperform" rating and issued a GBX 200 price objective on shares of Legal & General Group in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 254.67.

Legal & General Group Stock Performance

Shares of LGEN stock opened at GBX 237.80 on Friday. The firm has a 50 day moving average of GBX 245.27 and a 200-day moving average of GBX 245.85. The company has a market cap of £13.39 billion, a price-to-earnings ratio of 5,331.84, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 155.18. Legal & General Group has a 52 week low of GBX 206.80 and a 52 week high of GBX 266.20.

Legal & General Group (LON:LGEN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported GBX 4.48 earnings per share for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. On average, equities analysts forecast that Legal & General Group will post 24.2376446 earnings per share for the current year.

Insiders Place Their Bets

In other Legal & General Group news, insider Ric Lewis bought 1,105 shares of the firm's stock in a transaction on Monday, September 1st. The shares were acquired at an average cost of GBX 247 per share, for a total transaction of £2,729.35. Also, insider Mark Jordy bought 1,027 shares of the firm's stock in a transaction on Monday, September 1st. The stock was acquired at an average price of GBX 247 per share, for a total transaction of £2,536.69. Over the last three months, insiders purchased 6,694 shares of company stock worth $1,676,204. 0.57% of the stock is owned by corporate 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.

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