Legal & General Group PLC (OTCMKTS:LGGNY) Sees Significant Decrease in Short Interest

Key Points

• Legal & General Group PLC saw a significant drop in short interest in July, decreasing from 26,800 shares to 5,000 shares, an 81.3% reduction.
• The company's stock is currently priced at $17.78, with a 12-month high of $17.99 and a 12-month low of $13.51.
• Recent analyst ratings show mixed opinions, with HSBC Global Research upgrading the stock to "hold," while Royal Bank of Canada downgraded it to "strong sell."

Legal & General Group PLC (OTCMKTS:LGGNY - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 5,000 shares, adeclineof81.3% from the July 15th total of 26,800 shares. Based on an average daily volume of 52,800 shares, the short-interest ratio is presently 0.1 days. Approximately0.0% of the shares of the company are sold short. Approximately0.0% of the shares of the company are sold short. Based on an average daily volume of 52,800 shares, the short-interest ratio is presently 0.1 days.

Legal & General Group Stock Performance

Shares of LGGNY traded up $0.23 during mid-day trading on Wednesday, reaching $17.65. 35,136 shares of the company's stock traded hands, compared to its average volume of 24,099. The company has a debt-to-equity ratio of 2.19, a quick ratio of 2.90 and a current ratio of 2.90. The business's 50-day moving average price is $17.21 and its 200-day moving average price is $16.35. Legal & General Group has a 12 month low of $13.51 and a 12 month high of $17.99.

Legal & General Group Cuts Dividend

The firm 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 is Friday, August 22nd.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. UBS Group lowered shares of Legal & General Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday. The Goldman Sachs Group downgraded Legal & General Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Hsbc Global Res raised Legal & General Group to a "hold" rating in a report on Monday, May 19th. 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 equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce".

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.