Legal & General Group (OTCMKTS:LGGNY) Shares Pass Below Fifty Day Moving Average - Should You Sell?

Key Points

• Legal & General Group's stock has fallen below its fifty-day moving average of $17.04, trading as low as $15.77 on Tuesday.
• Multiple analysts have issued downgrades, with Royal Bank of Canada changing its rating from "hold" to a "strong sell", leading to an average rating of "Reduce" for the stock.
• The company recently announced a dividend of $0.3816 per share, set to be paid on October 3rd, reflecting a remarkable yield of 773.0%.

Legal & General Group PLC (OTCMKTS:LGGNY - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $17.04 and traded as low as $15.77. Legal & General Group shares last traded at $15.86, with a volume of 47,091 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group cut Legal & General Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Hsbc Global Res upgraded Legal & General Group to a "hold" rating in a report on Monday, May 19th. Royal Bank Of Canada cut Legal & General Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. Finally, UBS Group lowered Legal & General Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Three investment 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 company presently has a consensus rating of "Reduce".

Legal & General Group Stock Up 1.7%

The business has a fifty day moving average of $16.98 and a 200-day moving average 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 business also recently declared a dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, August 25th will be given a dividend of $0.3816 per share. This represents a yield of 773.0%. The ex-dividend date of this dividend is Friday, August 22nd.

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.