Legal & General Group (OTCMKTS:LGGNY) Share Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• Legal & General Group shares have recently fallen below their 50-day moving average of $16.60, trading as low as $15.84 before closing at $15.90.
• Multiple analysts have lowered their ratings on the stock, with UBS and Goldman Sachs both changing their rating from "strong-buy" to "hold", while Royal Bank of Canada has rated it a "strong sell."
• The company recently announced a dividend payment of $0.3816 per share, with a yield of 773.0%, which was paid to shareholders on October 3rd.

Shares of Legal & General Group PLC (OTCMKTS:LGGNY - Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $16.60 and traded as low as $15.84. Legal & General Group shares last traded at $15.90, with a volume of 28,785 shares changing hands.

Analyst Ratings Changes

LGGNY has been the subject of a number of research reports. UBS Group lowered shares of Legal & General Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. The Goldman Sachs Group lowered shares of Legal & General Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada lowered shares of Legal & General Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Legal & General Group Price Performance

The business's fifty day simple moving average is $16.60 and its 200-day simple moving average is $16.49.

Legal & General Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, August 25th were given a dividend of $0.3816 per share. This represents a yield of 773.0%. The ex-dividend date of this dividend was Friday, August 22nd.

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.

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