Legal & General Group (LON:LGEN) Sets New 1-Year High – Here’s Why

Legal & General Group Plc (LON:LGEN) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 295.90 and last traded at GBX 292.38, with a volume of 335710219 shares trading hands. The stock had previously closed at GBX 292.60.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LGEN shares. Royal Bank Of Canada upped their target price on Legal & General Group from GBX 205 to GBX 220 and gave the stock an “underperform” rating in a research report on Monday, March 23rd. Jefferies Financial Group cut Legal & General Group to an “underperform” rating and set a GBX 185 price target for the company. in a research note on Tuesday, May 5th. Citigroup increased their price objective on Legal & General Group from GBX 249 to GBX 251 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 308 price objective on shares of Legal & General Group in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Legal & General Group currently has an average rating of “Hold” and a consensus target price of GBX 251.

Legal & General Group Stock Performance

The firm has a market cap of £16.22 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79. The firm’s 50 day moving average is GBX 276.67 and its 200-day moving average is GBX 265.64. The company has a debt-to-equity ratio of 1,100.04, a quick ratio of 0.50 and a current ratio of 59.08.

Insider Activity at Legal & General Group

In other Legal & General Group news, insider Andrew Kail sold 204,858 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of GBX 271, for a total value of £555,165.18. Also, insider Laura Wade-Gery purchased 988 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were bought at an average price of GBX 253 per share, with a total value of £2,499.64. Over the last quarter, insiders purchased 8,519 shares of company stock valued at $2,299,198. Insiders own 0.59% of the company’s stock.

Legal & General Group Company Profile

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.