London Stock Exchange Group (LON:LSEG) Board of Directors Approves Stock Buyback Plan

Key Points

• London Stock Exchange Group (LSEG) has approved a stock buyback program, indicating management's belief that the stock is undervalued.
• The company's recent trading price was GBX 9,260 ($122.33), with a market cap of £49.02 billion and a P/E ratio of 72.62.
• Analysts from Canaccord Genuity reaffirmed a "buy" rating for LSEG, while JPMorgan and Deutsche Bank adjusted their price targets to £127 ($167.77).

London Stock Exchange Group (LON:LSEG - Get Free Report) announced that its board has approved a share repurchase plan on Thursday, July 31st, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LSEG has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a £132 ($175.28) target price on shares of London Stock Exchange Group in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on London Stock Exchange Group from £127 ($168.64) to £128 ($169.96) and gave the company an "overweight" rating in a research note on Friday. Canaccord Genuity Group reaffirmed a "buy" rating on shares of London Stock Exchange Group in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lifted their target price on London Stock Exchange Group from £127 ($168.64) to £128 ($169.96) and gave the company a "buy" rating in a research note on Friday. Finally, Citigroup lifted their target price on London Stock Exchange Group from £130 ($172.62) to £132 ($175.28) and gave the company a "buy" rating in a research note on Monday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, London Stock Exchange Group currently has an average rating of "Buy" and an average target price of £130 ($172.62).

London Stock Exchange Group Stock Up 1.7%

Shares of LON LSEG traded up GBX 162.39 ($2.16) during trading hours on Monday, hitting GBX 9,576 ($127.15). The stock had a trading volume of 28,097,350 shares, compared to its average volume of 4,685,657. The company has a market capitalization of £50.69 billion, a P/E ratio of 75.10, a P/E/G ratio of 1.72 and a beta of 0.41. The firm's 50-day moving average price is £108.11 and its two-hundred day moving average price is £112.21. London Stock Exchange Group has a 52 week low of GBX 9,050 ($120.17) and a 52 week high of £121.85 ($161.80). The company has a debt-to-equity ratio of 47.39, a quick ratio of 0.01 and a current ratio of 1.00.

London Stock Exchange Group (LON:LSEG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported GBX 208.90 ($2.77) EPS for the quarter. London Stock Exchange Group had a return on equity of 2.92% and a net margin of 7.93%. Analysts anticipate that London Stock Exchange Group will post 405.5009823 EPS for the current fiscal year.

Insider Activity at London Stock Exchange Group

In related news, insider Lloyd Pitchford bought 1,500 shares of London Stock Exchange Group stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average cost of GBX 9,413 ($124.99) per share, for a total transaction of £141,195 ($187,485.06). Also, insider Michel-Alain Proch bought 5,686 shares of London Stock Exchange Group stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of GBX 9,340 ($124.02) per share, with a total value of £531,072.40 ($705,181.78). 5.64% of the stock is currently owned by insiders.

About London Stock Exchange Group

LSEG is a leading global financial markets infrastructure and data provider that operates connected businesses to serve customers across the entire financial markets value chain. With capabilities in data, indices and analytics, capital formation, trade execution, clearing and risk management, we operate at the heart of the world's financial ecosystem and enable the sustainable growth and stability of our customers and their communities. Together, our five business divisions – Data and Analytics, FTSE Russell, Risk Intelligence, Capital Markets and Post Trade – offer customers seamless access to global financial markets, across the trading lifecycle. LSEG is headquartered in London and has a major presence throughout Europe, the Americas, Asia Pacific and emerging markets.