Legal & General Group (LON:LGEN) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Legal & General Group shares moved above their 200-day moving average, trading as high as GBX 291 and last changing hands at GBX 290.10 on heavy volume of 12.95 million shares.
• Analyst sentiment remains mixed, with the stock carrying an overall Hold rating and a consensus price target of GBX 251. Recent calls ranged from buy at Berenberg to underperform at RBC and Jefferies.
• Recent insider buying included purchases by John Kingman and Ric Lewis, adding to 8,519 shares bought by insiders over the last 90 days.

Legal & General Group Plc (LON:LGEN - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 264.44 and traded as high as GBX 291. Legal & General Group shares last traded at GBX 290.10, with a volume of 12,951,490 shares traded.

Analyst Ratings Changes

LGEN has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on Legal & General Group from GBX 205 to GBX 220 and gave the company an "underperform" rating in a research report on Monday, March 23rd. Berenberg Bank reissued a "buy" rating and issued a GBX 308 price target on shares of Legal & General Group in a report on Friday, May 1st. Citigroup raised their price target on Legal & General Group from GBX 249 to GBX 251 and gave the stock a "neutral" rating in a report on Tuesday, June 9th. Finally, Jefferies Financial Group lowered Legal & General Group to an "underperform" rating and set a GBX 185 price target on the stock. in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of GBX 251.

Legal & General Group Stock Performance

The stock has a 50-day simple moving average of GBX 272.51 and a 200 day simple moving average of GBX 264.44. The company has a current ratio of 59.08, a quick ratio of 0.50 and a debt-to-equity ratio of 1,100.04. The company has a market cap of £15.88 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.34 and a beta of 0.79.

Insiders Place Their Bets

In other news, insider John Kingman bought 650 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of GBX 253 per share, with a total value of £1,644.50. Also, insider Ric Lewis bought 931 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of GBX 253 per share, for a total transaction of £2,355.43. In the last ninety days, insiders acquired 8,519 shares of company stock valued at $2,299,198. Insiders own 0.59% 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. 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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