Legal & General Group PLC (OTCMKTS:LGGNY) Short Interest Update

Key Points

• Legal & General Group PLC saw a dramatic increase in short interest in August, rising to 24,000 shares which is a 380.0% increase from July's total of 5,000 shares.
• The company is set to pay a dividend of $0.3816 on October 3rd, with a yield of 773.0%, influenced by an ex-dividend date of August 22nd.
• Multiple research firms have downgraded the stock's rating, with UBS Group changing its rating from "strong-buy" to "hold," while Royal Bank Of Canada now rates it as a "strong sell."

Legal & General Group PLC (OTCMKTS:LGGNY - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 24,000 shares, anincreaseof380.0% from the July 31st total of 5,000 shares. Based on an average daily trading volume, of 49,700 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 49,700 shares, the days-to-cover ratio is presently 0.5 days.

Legal & General Group Stock Down 0.4%

Shares of LGGNY stock traded down $0.07 during trading on Monday, reaching $15.78. 42,394 shares of the company's stock were exchanged, compared to its average volume of 79,494. 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 has a twelve month low of $13.51 and a twelve month high of $17.99. The firm's fifty day moving average price is $17.11 and its 200-day moving average price is $16.48.

Legal & General Group Cuts Dividend

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

Analyst Ratings Changes

Several research firms have commented on LGGNY. The Goldman Sachs Group cut Legal & General Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. UBS Group cut Legal & General Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Royal Bank Of Canada lowered Legal & General Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 22nd. Finally, Hsbc Global Res raised Legal & General Group to a "hold" rating in a research report on Monday, May 19th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Legal & General Group 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.