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

Legal & General Group Plc (LON:LGEN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 225.93 ($2.75) and traded as high as GBX 234.90 ($2.86). Legal & General Group shares last traded at GBX 233.90 ($2.85), with a volume of 13,747,356 shares trading hands.

Wall Street Analysts Forecast Growth

LGEN has been the subject of a number of analyst reports. Berenberg Bank reissued a “buy” rating and issued a GBX 265 ($3.22) price objective on shares of Legal & General Group in a research report on Thursday, December 5th. JPMorgan Chase & Co. lifted their target price on shares of Legal & General Group from GBX 290 ($3.53) to GBX 295 ($3.59) and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “top pick” rating on shares of Legal & General Group in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Legal & General Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 276.67 ($3.37).

Legal & General Group Stock Up 0.6 %

The firm’s 50-day moving average price is GBX 225.64 and its 200 day moving average price is GBX 225.93. The company has a market capitalization of £13.66 billion, a price-to-earnings ratio of 4,678.00, a PEG ratio of 2.34 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 0.50 and a debt-to-equity ratio of 722.64.

Insider Activity at Legal & General Group

In other Legal & General Group news, insider Henrietta Baldock bought 1,118 shares of Legal & General Group stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of GBX 221 ($2.69) per share, with a total value of £2,470.78 ($3,006.18). Also, insider John Kingman bought 716 shares of Legal & General Group stock in a transaction on Thursday, January 2nd. The shares were acquired at an average cost of GBX 230 ($2.80) per share, for a total transaction of £1,646.80 ($2,003.65). In the last three months, insiders have purchased 2,590 shares of company stock valued at $576,566. 0.88% of the stock is owned by insiders.

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.