Legal & General Group (LON:LGEN) Stock Price Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• Legal & General shares rose above their 200-day moving average, reaching GBX 290.10 before closing at GBX 287.92 on heavy volume.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of GBX 276.86, below its recent trading price. Ratings range from Berenberg’s “Buy” and GBX 385 target to several “Sell” or “Underperform” recommendations.
• The company reported quarterly EPS of GBX 8.01 and a 27.28% return on equity, while insiders—including Mark Jordy—have purchased shares recently; insiders own 0.59% of the company.

Legal & General Group Plc (LON:LGEN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 279.73 and traded as high as GBX 290.10. Legal & General Group shares last traded at GBX 287.92, with a volume of 14,604,462 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup lowered Legal & General Group to a "sell" rating and lowered their price objective for the stock from GBX 251 to GBX 245 in a research report on Monday, August 10th. Berenberg Bank lifted their target price on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated an "underperform" rating and issued a GBX 270 target price on shares of Legal & General Group in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lowered their price target on shares of Legal & General Group from GBX 285 to GBX 270 and set an "underweight" rating on the stock in a report on Thursday, August 13th. Finally, Jefferies Financial Group restated an "underperform" rating and set a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of GBX 276.86.

Legal & General Group Stock Performance

The firm has a market capitalization of £15.46 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 2.34 and a beta of 0.81. The company has a 50 day moving average price of GBX 294.95 and a two-hundred day moving average price of GBX 279.73.

Legal & General Group (LON:LGEN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share (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 Plc will post 24.24 earnings per share for the current fiscal year.

Insider Transactions at Legal & General Group

In related news, insider Mark Jordy acquired 3,671 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were acquired at an average cost of GBX 288 per share, with a total value of £10,572.48. Insiders have acquired 11,042 shares of company stock worth $3,240,907 over the last quarter. Company insiders own 0.59% of the company's stock.

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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