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

Legal & General Group Plc (LON:LGEN - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 234.40 ($3.16) and traded as high as GBX 241.80 ($3.26). Legal & General Group shares last traded at GBX 239.30 ($3.22), with a volume of 30,207,293 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 265 ($3.57) price objective on shares of Legal & General Group in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 267 ($3.60).

Legal & General Group Trading Up 1.6%

The firm has a 50-day moving average price of GBX 238.62 and a 200-day moving average price of GBX 235.10. 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 has a market cap of £14.45 billion, a PE ratio of 45.52, 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 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 return on equity of 7.79% and a net margin of 0.67%. As a group, equities analysts anticipate that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

Legal & General Group Increases Dividend

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

Legal & General Group announced that its board has approved a stock buyback plan on Wednesday, March 12th that allows the company to buyback 0 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Tushar Morzaria acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of GBX 241 ($3.25) per share, for a total transaction of £48,200 ($64,933.32). Also, insider Henrietta Baldock acquired 1,016 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of GBX 243 ($3.27) per share, with a total value of £2,468.88 ($3,325.99). Insiders acquired 43,301 shares of company stock valued at $10,493,400 in the last quarter. 0.88% of the stock is currently 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.