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

Shares of Legal & General Group Plc (LON:LGEN - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 231.12 ($3.09) and traded as high as GBX 239.80 ($3.21). Legal & General Group shares last traded at GBX 238.40 ($3.19), with a volume of 19,407,727 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 265 ($3.55) price objective on shares of Legal & General Group in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 267 ($3.57).

Legal & General Group Stock Performance

The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50. The stock's 50 day moving average price is GBX 239.98 and its 200 day moving average price is GBX 231.88. The company has a market capitalization of £14.51 billion, a P/E ratio of 45.71, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31.

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) EPS for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. As a group, equities analysts expect that Legal & General Group Plc will post 24.2376446 EPS for the current year.

Legal & General Group Increases Dividend

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

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

Insider Buying and Selling at Legal & General Group

In other news, insider John Kingman purchased 677 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of GBX 243 ($3.25) per share, with a total value of £1,645.11 ($2,201.41). Also, insider Henrietta Baldock acquired 1,046 shares of Legal & General Group stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of GBX 236 ($3.16) per share, with a total value of £2,468.56 ($3,303.31). Over the last three months, insiders have acquired 43,188 shares of company stock valued at $10,467,891. 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.