Legal & General Group Plc (LON:LGEN) Stock Rated "Reduce" by Sell-Side Analysts

Key Points

• Legal & General Group has an average “Reduce” rating from seven analysts: four sell, one hold, and two buy recommendations. The average 12-month price target is GBX 276.86, below the reported trading price of GBX 287.92.
• Analyst views remain mixed, with price targets ranging from GBX 185 from Jefferies to GBX 385 from Berenberg; JPMorgan and RBC both maintained negative ratings with GBX 270 targets.
• The stock has a £15.46 billion market capitalization and trades at a reported P/E ratio of 8.03. Legal & General reported quarterly EPS of GBX 8.01, while insiders purchased additional shares during the latest quarter.

Legal & General Group Plc (LON:LGEN - Get Free Report) has been assigned an average recommendation of "Reduce" from the seven ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is GBX 276.86.

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Legal & General Group from GBX 285 to GBX 270 and set an "underweight" rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a GBX 270 price objective on shares of Legal & General Group in a research report on Wednesday, September 2nd. Berenberg Bank lifted their target price on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a "buy" rating in a report on Thursday, August 6th. Peel Hunt reissued an "add" rating and issued a GBX 320 target price on shares of Legal & General Group in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a GBX 185 target price on shares of Legal & General Group in a research report on Wednesday, August 5th.

Legal & General Group Trading Up 0.8%

LON LGEN opened at GBX 287.92 on Friday. The stock has a fifty day simple moving average of GBX 294.95 and a 200-day simple moving average of GBX 279.73. The stock has a market cap of £15.46 billion, a PE ratio of 8.03, a P/E/G ratio of 2.34 and a beta of 0.81. Legal & General Group has a twelve month low of GBX 217.20 and a twelve month high of GBX 318.10.

Legal & General Group (LON:LGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share (EPS) for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 27.28%. Research analysts predict that Legal & General Group will post 24.24 EPS for the current year.

Insider Activity

In other news, insider Mark Jordy acquired 3,671 shares of the business's stock in a transaction that occurred 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. In the last quarter, insiders acquired 11,042 shares of company stock valued at $3,240,907. 0.59% of the stock is currently owned by 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.

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