Legal & General Group (LON:LGEN) Share Price Passes Above 200 Day Moving Average – What’s Next?

Legal & General Group Plc (LON:LGEN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 229.86 ($2.97) and traded as high as GBX 248.80 ($3.21). Legal & General Group shares last traded at GBX 244.30 ($3.15), with a volume of 17,441,053 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LGEN shares. JPMorgan Chase & Co. lifted their price target on Legal & General Group from GBX 290 ($3.74) to GBX 295 ($3.81) and gave the stock an “overweight” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft reiterated a “top pick” rating on shares of Legal & General Group in a research report on Friday, December 6th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 265 ($3.42) price target on shares of Legal & General Group in a research report on Monday, February 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 267 ($3.45).

Legal & General Group Trading Down 1.2 %

The business has a fifty day simple moving average of GBX 239.72 and a 200 day simple moving average of GBX 229.94. The stock has a market cap of £14.15 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50.

Legal & General Group (LON:LGEN) last posted its quarterly earnings data on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) EPS for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. As a group, equities analysts anticipate that Legal & General Group Plc will post 24.2376446 EPS for the current year.

Legal & General Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, April 24th will be paid a dividend of GBX 15.36 ($0.20) per share. This represents a dividend yield of 6.18%. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Legal & General Group’s previous dividend of $6.00. Legal & General Group’s payout ratio is currently 387.68%.

Legal & General Group declared that its board has approved a share repurchase program on Wednesday, March 12th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Legal & General Group

In other news, insider Tushar Morzaria acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of GBX 241 ($3.11) per share, with a total value of £48,200 ($62,233.70). Also, insider Henrietta Baldock purchased 1,016 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of GBX 243 ($3.14) per share, with a total value of £2,468.88 ($3,187.71). Over the last three months, insiders have bought 23,455 shares of company stock valued at $5,642,935. Corporate insiders own 0.88% 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.