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

Legal & General Group Plc (LON:LGEN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 233.05 ($3.07) and traded as high as GBX 241.70 ($3.18). Legal & General Group shares last traded at GBX 239.84 ($3.16), with a volume of 52,261,047 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 265 ($3.49) 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 company. Based on data from MarketBeat.com, Legal & General Group currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 267 ($3.52).

Legal & General Group Stock Performance

The stock has a market capitalization of £14.04 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18. The company has a 50-day moving average price of GBX 239.43 and a two-hundred day moving average price of GBX 233.34.

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) earnings per share (EPS) for the quarter. Legal & General Group had a return on equity of 7.79% and a net margin of 0.67%. On average, equities analysts forecast that Legal & General Group Plc will post 24.2376446 earnings per share for the current year.

Legal & General Group Increases Dividend

The company also recently declared 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 ($0.20) per share. This is an increase from Legal & General Group's previous dividend of $6.00. This represents a yield of 6.18%. The ex-dividend date of this dividend is Thursday, April 24th. Legal & General Group's dividend payout ratio is 387.68%.

Legal & General Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to buyback 0 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Legal & General Group

In other news, insider Henrietta Baldock bought 1,016 shares of the company's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of GBX 243 ($3.20) per share, with a total value of £2,468.88 ($3,252.81). Also, insider Laura Wade-Gery bought 1,159 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of GBX 235 ($3.10) per share, for a total transaction of £2,723.65 ($3,588.47). Insiders acquired a total of 43,301 shares of company stock valued at $10,493,400 over the last three months. Corporate insiders own 0.88% 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.