Legal & General Group (LON:LGEN) Given New GBX 270 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Legal & General’s price target to GBX 270 from GBX 255 but maintained an “underperform” rating, implying 9.21% downside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of GBX 277.57, with ratings split between buys, holds, and sells.
• Legal & General opened at GBX 297.40 and recently reported quarterly EPS of GBX 8.01. The company’s return on equity was 27.28%, while insiders have purchased 8,390 shares over the past 90 days.

Legal & General Group (LON:LGEN - Get Free Report) had its price objective boosted by Royal Bank Of Canada from GBX 255 to GBX 270 in a research note issued on Tuesday,Digital Look reports. The firm currently has an "underperform" rating on the financial services provider's stock. Royal Bank Of Canada's target price suggests a potential downside of 9.21% from the stock's previous close.

Other analysts have also issued reports about the stock. Berenberg Bank boosted their target price on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a "buy" rating in a research note on Thursday, August 6th. Jefferies Financial Group reaffirmed an "underperform" rating and issued a GBX 185 price target on shares of Legal & General Group in a research note on Wednesday, August 5th. Peel Hunt reiterated an "add" rating and set a GBX 320 price objective on shares of Legal & General Group in a report on Tuesday, August 4th. Finally, Citigroup cut shares of Legal & General Group to a "sell" rating and lowered their price objective for the company from GBX 251 to GBX 245 in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of GBX 277.57.

Legal & General Group Stock Performance

LGEN opened at GBX 297.40 on Tuesday. The stock's 50 day moving average price is GBX 289.67 and its 200-day moving average price is GBX 270.16. Legal & General Group has a one year low of GBX 217.20 and a one year high of GBX 318.10. The stock has a market cap of £16.24 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.34 and a beta of 0.80.

Legal & General Group (LON:LGEN - Get Free Report) last posted 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 return on equity of 27.28% and a net margin of 0.91%. As a group, analysts predict that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

Insider Transactions at Legal & General Group

In related news, insider Mark Jordy bought 3,683 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were bought at an average price of GBX 287 per share, for a total transaction of £10,570.21. Insiders bought a total of 8,390 shares of company stock valued at $2,444,751 in the last 90 days. 0.61% of the stock is 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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