Legal & General Group (OTCMKTS:LGGNY) Share Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Legal & General Group's stock price fell below its 50-day moving average of $16.82, trading as low as $15.66, and closing at $15.73 on the latest trading day.
• Multiple analysts have recently downgraded the stock, with UBS and Goldman Sachs changing their ratings from "strong-buy" to "hold", while RBC downgraded it to a "strong sell".
• The company declared a dividend of $0.3816, yielding 773.0%, to be paid on October 3rd for investors of record on August 25th.

Legal & General Group PLC (OTCMKTS:LGGNY - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.82 and traded as low as $15.66. Legal & General Group shares last traded at $15.73, with a volume of 45,262 shares.

Wall Street Analyst Weigh In

LGGNY has been the subject of several recent analyst reports. UBS Group downgraded Legal & General Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 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 analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Legal & General Group Price Performance

The firm has a fifty day moving average price of $16.82 and a 200 day moving average price of $16.50. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 2.19.

Legal & General Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, August 25th will be paid a $0.3816 dividend. This represents a yield of 773.0%. The ex-dividend date is 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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