Citigroup Boosts Legal & General Group (LON:LGEN) Price Target to GBX 2,510

Legal & General Group (LON:LGEN) had its target price increased by investment analysts at Citigroup from GBX 2,490 to GBX 2,510 in a research note issued to investors on Tuesday,London Stock Exchange reports. The firm presently has a “neutral” rating on the financial services provider’s stock.

LGEN has been the topic of several other reports. Jefferies Financial Group cut Legal & General Group to an “underperform” rating and set a GBX 185 price target on the stock. in a report on Tuesday, May 5th. Berenberg Bank reissued a “buy” rating and set a GBX 308 price target on shares of Legal & General Group in a report on Friday, May 1st. Finally, Royal Bank Of Canada increased their price target on Legal & General Group from GBX 205 to GBX 220 and gave the company an “underperform” rating in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of GBX 573.71.

Legal & General Group Stock Up 0.8%

Shares of LON LGEN opened at GBX 272.90 on Tuesday. The firm’s 50-day moving average price is GBX 260.16 and its 200-day moving average price is GBX 258.21. The company has a market cap of £14.98 billion, a PE ratio of 28.02, a PEG ratio of 2.34 and a beta of 0.81. Legal & General Group has a 52-week low of GBX 217.20 and a 52-week high of GBX 300.

Legal & General Group (LON:LGEN) last released its quarterly earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 earnings per share for the quarter. Legal & General Group had a return on equity of 15.89% and a net margin of 0.91%. As a group, equities research analysts anticipate that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Legal & General Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that allows the company to buyback 0 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Legal & General Group

In other Legal & General Group news, insider Ric Lewis bought 931 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of GBX 253 per share, for a total transaction of £2,355.43. Also, insider Andrew Kail sold 204,858 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of GBX 271, for a total transaction of £555,165.18. In the last three months, insiders purchased 4,758 shares of company stock valued at $1,219,791 and sold 410,095 shares valued at $106,048,563. 0.59% of the stock is owned by corporate 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. 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.