Insider Selling: Legal & General Group Plc (LON:LGEN) Insider Sells 94,803 Shares of Stock

Legal & General Group Plc (LON:LGEN) insider Jeff Davies sold 94,803 shares of the business’s stock in a transaction on Saturday, April 19th. The stock was sold at an average price of GBX 248 ($3.30), for a total transaction of £235,111.44 ($313,064.50).

Jeff Davies also recently made the following trade(s):

• On Tuesday, April 1st, Jeff Davies purchased 80 shares of Legal & General Group stock. The shares were purchased at an average cost of GBX 245 ($3.26) per share, for a total transaction of £196 ($260.99).

Legal & General Group Stock Performance

Legal & General Group stock opened at GBX 237.57 ($3.16) on Friday. Legal & General Group Plc has a 52 week low of GBX 206.80 ($2.75) and a 52 week high of GBX 266.20 ($3.54). The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18. The stock has a market cap of £13.92 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The stock has a 50 day moving average of GBX 240.13 and a 200-day moving average of GBX 232.37.

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%. On average, analysts expect that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

Legal & General Group Increases Dividend

The company 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. The ex-dividend date is Thursday, April 24th. This represents a yield of 6.18%. This is a boost from Legal & General Group’s previous dividend of $6.00. Legal & General Group’s dividend payout ratio is presently 387.68%.

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

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 265 ($3.53) price objective 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 267 ($3.56).

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.