Legal & General Group Plc (LON:LGEN) Given Average Rating of "Reduce" by Brokerages

Key Points

• Analyst sentiment is bearish: Legal & General Group has an average “Reduce” rating, with four sells, one hold, and two buys among seven analysts. The average 12-month price target is GBX 276.86.
• Recent broker actions were mixed but generally cautious, including downgrades from Citigroup and lower targets from JPMorgan, while Berenberg raised its target to GBX 385 and maintained a buy rating.
• The stock opened at GBX 286.30, with a market capitalization of about £15.64 billion. The company reported quarterly EPS of GBX 8.01, while insiders purchased 8,390 shares worth approximately £2.44 million over the past 90 days.

Legal & General Group Plc (LON:LGEN - Get Free Report) has earned an average rating of "Reduce" from the seven research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is GBX 276.86.

LGEN has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed an "underperform" rating and issued a GBX 185 target price on shares of Legal & General Group in a research report on Wednesday, August 5th. Citigroup lowered shares of Legal & General Group to a "sell" rating and dropped their price target for the stock from GBX 251 to GBX 245 in a research note on Monday, August 10th. Royal Bank Of Canada upped their price target on shares of Legal & General Group from GBX 255 to GBX 270 and gave the company an "underperform" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on shares of Legal & General Group from GBX 285 to GBX 270 and set an "underweight" rating on the stock in a research note on Thursday, August 13th. Finally, Berenberg Bank raised their price objective on shares of Legal & General Group from GBX 353 to GBX 385 and gave the stock a "buy" rating in a report on Thursday, August 6th.

Insider Transactions at Legal & General Group

In other news, insider Mark Jordy acquired 3,494 shares of the business's stock in a transaction on Monday, August 3rd. The shares were purchased at an average price of GBX 303 per share, for a total transaction of £10,586.82. Insiders purchased a total of 8,390 shares of company stock worth $2,444,751 in the last 90 days. Corporate insiders own 0.61% of the company's stock.

Legal & General Group Price Performance

Shares of Legal & General Group stock opened at GBX 286.30 on Friday. Legal & General Group has a 1-year low of GBX 217.20 and a 1-year high of GBX 318.10. The company has a market capitalization of £15.64 billion, a PE ratio of 29.39, a P/E/G ratio of 2.34 and a beta of 0.80. The business has a 50-day moving average of GBX 294.17 and a 200-day moving average of GBX 272.27.

Legal & General Group (LON:LGEN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 EPS for the quarter. Legal & General Group had a return on equity of 27.28% and a net margin of 0.91%. On average, equities analysts expect that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

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. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.

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