Legal & General Group (OTCMKTS:LGGNY) Lowered to "Hold" Rating by UBS Group

Key Points

• Legal & General Group has been downgraded by UBS Group from a "strong-buy" to a "hold" rating, reflecting a cautious outlook from analysts.
• Goldman Sachs also lowered their rating on the stock from "strong-buy" to "hold," while Royal Bank of Canada cut it to a "strong sell," indicating mixed sentiments among analysts regarding the company's performance.
• Despite the rating downgrades, Legal & General Group shares rose by 1.3%, trading at $17.64, showing some resilience in the stock amidst the analyst reviews.

Legal & General Group (OTCMKTS:LGGNY - Get Free Report) was downgraded by investment analysts at UBS Group from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on LGGNY. Hsbc Global Res upgraded Legal & General Group to a "hold" rating in a report on Monday, May 19th. The Goldman Sachs Group downgraded Legal & General Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada downgraded Legal & General Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce".

Legal & General Group Trading Down 0.5%

Shares of OTCMKTS:LGGNY traded down $0.0850 during mid-day trading on Tuesday, hitting $17.37. 14,158 shares of the company traded hands, compared to its average volume of 79,388. The company has a debt-to-equity ratio of 2.19, a quick ratio of 2.90 and a current ratio of 2.90. Legal & General Group has a 52-week low of $13.51 and a 52-week high of $17.99. The firm's 50 day simple moving average is $17.22 and its 200 day simple moving average is $16.40.

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.