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 significant increase in short interest in 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 volume of 49,700 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 49,700 shares, the short-interest ratio is presently 0.5 days.

Legal & General Group Stock Performance

LGGNY traded up $0.01 during trading on Wednesday, reaching $15.81. The company's stock had a trading volume of 32,396 shares, compared to its average volume of 79,422. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 2.19. The firm has a fifty day simple moving average of $17.20 and a two-hundred day simple moving average of $16.47. Legal & General Group has a 1 year low of $13.51 and a 1 year high of $17.99.

Legal & General Group Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LGGNY. UBS Group downgraded Legal & General Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Hsbc Global Res upgraded Legal & General Group to a "hold" rating in a research note 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, 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. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently 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.

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