Legal & General Group (LON:LGEN) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Legal & General Group shares rose above their 200-day moving average, trading as high as GBX 302.35 and last changing hands at GBX 300.85, up 1.4% on the day.
• Analyst sentiment is mixed: the stock has an average "Hold" rating with a consensus price target of GBX 251, though targets range from GBX 185 to GBX 308.
• Insiders have been buying shares, including recent purchases by Mark Jordy and Ric Lewis, with insiders acquiring 8,519 shares over the last 90 days.

Legal & General Group Plc (LON:LGEN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 266.67 and traded as high as GBX 302.35. Legal & General Group shares last traded at GBX 300.85, with a volume of 16,425,861 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LGEN shares. Citigroup lifted their price target on shares of Legal & General Group from GBX 249 to GBX 251 and gave the company a "neutral" rating in a research report on Tuesday, June 9th. Berenberg Bank restated a "buy" rating and issued a GBX 308 price objective on shares of Legal & General Group in a report on Friday, May 1st. Finally, Jefferies Financial Group cut shares of Legal & General Group to an "underperform" rating and set a GBX 185 price objective for the company. in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of GBX 251.

Legal & General Group Trading Up 1.4%

The company has a 50 day moving average of GBX 280.61 and a 200-day moving average of GBX 266.67. The company has a debt-to-equity ratio of 1,100.04, a quick ratio of 0.50 and a current ratio of 59.08. The stock has a market cap of £16.47 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79.

Insider Activity

In related news, insider Mark Jordy bought 3,683 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were purchased at an average cost of GBX 287 per share, with a total value of £10,570.21. Also, insider Ric Lewis acquired 931 shares of the firm's stock in a transaction on Friday, May 1st. The stock was bought at an average price of GBX 253 per share, with a total value of £2,355.43. Insiders acquired a total of 8,519 shares of company stock valued at $2,299,198 in the last 90 days. Company insiders own 0.59% 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. 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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