Legal & General Group (LON:LGEN) Price Target Raised to GBX 385 at Berenberg Bank

Key Points

• Berenberg Bank raised Legal & General’s price target from GBX 353 to GBX 385 and maintained a “buy” rating, implying 24.39% upside from the previous close.
• Analyst sentiment remains mixed, with the stock carrying an overall “hold” rating and an average target of GBX 276.29; Jefferies maintained an “underperform” rating with a GBX 185 target.
• Shares rose 1.4% to GBX 309.50 after the company reported quarterly EPS of GBX 8.01. Insiders have also purchased shares in recent months, including a roughly £10,570 purchase by Mark Jordy.

Legal & General Group (LON:LGEN - Get Free Report) had its price objective boosted by research analysts at Berenberg Bank from GBX 353 to GBX 385 in a note issued to investors on Thursday,Digital Look reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Berenberg Bank's price objective would suggest a potential upside of 24.39% from the company's previous close.

A number of other brokerages have also commented on LGEN. Citigroup increased their price objective on Legal & General Group from GBX 249 to GBX 251 and gave the company a "neutral" rating in a report on Tuesday, June 9th. Peel Hunt reiterated an "add" rating and set a GBX 320 price target on shares of Legal & General Group in a report on Tuesday. Royal Bank Of Canada reissued an "underperform" rating and issued a GBX 255 price target on shares of Legal & General Group in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group restated an "underperform" rating and issued a GBX 185 price objective on shares of Legal & General Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 276.29.

Legal & General Group Trading Up 1.4%

Shares of LON:LGEN opened at GBX 309.50 on Thursday. The stock has a market capitalization of £16.94 billion, a PE ratio of 31.78, a P/E/G ratio of 2.34 and a beta of 0.80. Legal & General Group has a 1 year low of GBX 217.20 and a 1 year high of GBX 310. The firm has a fifty day moving average price of GBX 287.17 and a 200 day moving average price of GBX 269.18. The company has a current ratio of 59.08, a quick ratio of 0.50 and a debt-to-equity ratio of 1,100.04.

Legal & General Group (LON:LGEN - Get Free Report) last posted 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 15.89%. Analysts expect that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Insider Buying and Selling at Legal & General Group

In other Legal & General Group news, insider Mark Jordy bought 3,683 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average price of GBX 287 per share, for a total transaction of £10,570.21. Over the last ninety days, insiders bought 8,390 shares of company stock worth $2,444,751. 0.59% of the stock is currently owned by insiders.

Key Headlines Impacting Legal & General Group

Here are the key news stories impacting Legal & General Group this week:

• Positive Sentiment: Legal & General reported strong first-half results and said it would increase shareholder returns. The update reinforces confidence in the insurer’s operating performance and capital-generation outlook. Legal & General Reports Strong First-Half Performance and Increases Shareholder Returns
• Positive Sentiment: The company delivered a modest profit beat and raised its dividend by 2%. Higher distributions may appeal to income-focused investors and signal management’s confidence in cash flows. Legal & General Delivers Modest Profit Beat and Nudges Dividend Up 2 Percent
• Positive Sentiment: Legal & General reported quarterly earnings of GBX 8.01 per share, with a 15.89% return on equity. The results provide additional support for the recent share-price strength. Legal & General Earnings Results
• Positive Sentiment: Recent insider purchases—including Mark Jordy’s approximately £10,587 purchase and Andrew Kail’s smaller acquisition—may be interpreted as a vote of confidence, although the transactions are not large relative to the company’s market value. Legal & General Insider Buying
• Positive Sentiment: Peel Hunt maintained an “add” rating with a GBX 320 target, implying further upside from recent levels. Peel Hunt Broker Rating
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and assigned a GBX 185 target, substantially below the recent market price. The call highlights concerns that the shares may already reflect much of the improved outlook. Jefferies Legal & General Rating

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. 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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