Legal & General Group (LON:LGEN) Stock Price Passes Above 200-Day Moving Average - Here's Why

Legal & General Group Plc (LON:LGEN - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 233.64 ($3.13) and traded as high as GBX 242.20 ($3.24). Legal & General Group shares last traded at GBX 241.80 ($3.24), with a volume of 28,724,531 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 265 ($3.55) target price on shares of Legal & General Group in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 267 ($3.58).

Legal & General Group Price Performance

The firm has a market cap of £14.21 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a current ratio of 1.50 and a quick ratio of 0.50. The stock's fifty day moving average price is GBX 239.09 and its 200-day moving average price is GBX 234.18.

Legal & General Group (LON:LGEN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. Equities research analysts predict that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

Legal & General Group Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, April 24th will be issued a dividend of GBX 15.36 ($0.21) per share. This represents a yield of 6.18%. This is an increase from Legal & General Group's previous dividend of $6.00. The ex-dividend date of this dividend is Thursday, April 24th. Legal & General Group's payout ratio is presently 387.68%.

Legal & General Group declared that its board has approved a stock buyback plan on Wednesday, March 12th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity at Legal & General Group

In other Legal & General Group news, insider Laura Wade-Gery bought 1,159 shares of the stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of GBX 235 ($3.15) per share, for a total transaction of £2,723.65 ($3,647.58). Also, insider Henrietta Baldock purchased 1,016 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of GBX 243 ($3.25) per share, for a total transaction of £2,468.88 ($3,306.39). Over the last three months, insiders have acquired 43,301 shares of company stock worth $10,493,400. Corporate insiders own 0.88% of the company's stock.

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.