Legal & General Group (LON:LGEN) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Legal & General Group Plc (LON:LGEN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 233.64 ($3.11) and traded as high as GBX 242.20 ($3.22). Legal & General Group shares last traded at GBX 241.80 ($3.22), with a volume of 28,724,531 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 265 ($3.53) price target on shares of Legal & General Group in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 267 ($3.55).

Legal & General Group Price Performance

The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 155.18. The firm has a market cap of £14.20 billion, a P/E ratio of 44.73, a PEG ratio of 2.34 and a beta of 1.31. The business has a fifty day moving average of GBX 239.11 and a 200 day moving average of GBX 233.64.

Legal & General Group (LON:LGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) 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 anticipate that Legal & General Group Plc will post 24.2376446 earnings per share for the current year.

Legal & General Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, April 24th will be issued a dividend of GBX 15.36 ($0.20) per share. This represents a dividend yield of 6.18%. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Legal & General Group's previous dividend of $6.00. Legal & General Group's payout ratio is currently 387.68%.

Legal & General Group declared that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Laura Wade-Gery purchased 1,159 shares of Legal & General Group stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of GBX 235 ($3.13) per share, with a total value of £2,723.65 ($3,624.77). Also, insider Tushar Morzaria purchased 20,000 shares of Legal & General Group stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of GBX 241 ($3.21) per share, for a total transaction of £48,200 ($64,146.93). Insiders have acquired a total of 43,301 shares of company stock worth $10,493,400 in the last quarter. Corporate insiders own 0.88% of the company's stock.

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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