Legal & General Group (LON:LGEN) Shares Pass Above 200-Day Moving Average - What's Next?

Legal & General Group Plc (LON:LGEN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 232.60 ($3.09) and traded as high as GBX 239.40 ($3.18). Legal & General Group shares last traded at GBX 235.70 ($3.13), with a volume of 21,439,281 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 265 ($3.52) price target on shares of Legal & General Group in a research note on Monday, February 24th. Two 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of GBX 267 ($3.54).

Legal & General Group Stock Performance

The company's 50-day moving average is GBX 239.94 and its two-hundred day moving average is GBX 232.86. The company has a market cap of £13.94 billion, a P/E ratio of 43.90, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 155.18.

Legal & General Group (LON:LGEN - Get Free Report) last released 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%. Equities analysts predict that Legal & General Group Plc will post 24.2376446 EPS for the current year.

Legal & General Group Increases Dividend

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

Legal & General Group declared that its board has authorized a share buyback plan on Wednesday, March 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Legal & General Group

In related news, insider Laura Wade-Gery purchased 1,159 shares of Legal & General Group stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of GBX 235 ($3.12) per share, for a total transaction of £2,723.65 ($3,614.19). Also, insider António Simões sold 197,279 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of GBX 244 ($3.24), for a total transaction of £481,360.76 ($638,748.35). Insiders purchased a total of 43,301 shares of company stock valued at $10,493,400 in the last quarter. 0.88% of the stock is owned by insiders.

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.