Legal & General Group (OTCMKTS:LGGNY) Stock Passes Below Fifty Day Moving Average - What's Next?

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) 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 traded.

Wall Street Analysts Forecast Growth

LGGNY has been the topic of several analyst reports. 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. Hsbc Global Res upgraded shares of Legal & General Group to a "hold" rating in a research report on Monday, May 19th. 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. Finally, 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. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce".

Legal & General Group Trading Up 0.5%

The company has a debt-to-equity ratio of 2.19, a current ratio of 2.90 and a quick ratio of 2.90. The business's 50-day simple moving average is $17.04 and its two-hundred day simple moving average is $16.48.

Legal & General Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, August 25th will be given a $0.3816 dividend. The ex-dividend date is Friday, August 22nd. This represents a yield of 773.0%.

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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