Legal & General Group (LON:LGEN) Lowered to Neutral Rating by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. downgraded Legal & General Group to a "neutral" rating with a target price of GBX 275 ($3.71), down from GBX 290 ($3.92).
• Royal Bank Of Canada also reduced its target price for the company from GBX 220 ($2.97) to GBX 200 ($2.70) and assigned an "underperform" rating.
• Legal & General Group's stock traded down to GBX 259.30 ($3.50) with a market cap of £15.20 billion and a P/E ratio of 47.87.

Legal & General Group (LON:LGEN - Get Free Report) was downgraded by JPMorgan Chase & Co. to a "neutral" rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a GBX 275 ($3.71) target price on the financial services provider's stock, down from their prior target price of GBX 290 ($3.92). JPMorgan Chase & Co.'s price objective would indicate a potential upside of 6.05% from the stock's previous close.

Separately, Royal Bank Of Canada reduced their target price on shares of Legal & General Group from GBX 220 ($2.97) to GBX 200 ($2.70) and set an "underperform" rating for the company in a report on Tuesday.

Legal & General Group Stock Performance

LGEN traded down GBX 0.70 ($0.01) during trading on Wednesday, reaching GBX 259.30 ($3.50). 14,704,122 shares of the company were exchanged, compared to its average volume of 20,323,551. The stock has a market cap of £15.20 billion, a P/E ratio of 47.87, a PEG ratio of 2.34 and a beta of 1.31. The firm has a 50 day moving average of GBX 254.90 and a 200 day moving average of GBX 245.47. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18. Legal & General Group has a 52 week low of GBX 206.80 ($2.79) and a 52 week high of GBX 266.20 ($3.59).

Legal & General Group (LON:LGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported GBX 4.48 ($0.06) earnings per share (EPS) for the quarter. Legal & General Group had a return on equity of 7.79% and a net margin of 0.67%. On average, sell-side analysts forecast that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Insider Activity at Legal & General Group

In related news, insider George Lewis purchased 3,761 shares of Legal & General Group stock in a transaction on Thursday, June 5th. The stock was bought at an average price of GBX 256 ($3.46) per share, with a total value of £9,628.16 ($12,998.73). Also, insider John Kingman bought 643 shares of Legal & General Group stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of GBX 255 ($3.44) per share, with a total value of £1,639.65 ($2,213.65). Over the last ninety days, insiders have acquired 32,240 shares of company stock worth $8,241,637. 0.88% of the stock is currently owned by company 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.

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