Legal & General Group (LON:LGEN) Given New GBX 251 Price Target at Citigroup

Legal & General Group (LON:LGEN) had its price objective increased by stock analysts at Citigroup from GBX 249 to GBX 251 in a research report issued on Tuesday, June 9th, Marketbeat reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective suggests a potential downside of 14.67% from the company’s current price.

A number of other analysts have also recently issued reports on LGEN. Jefferies Financial Group cut Legal & General Group to an “underperform” rating and set a GBX 185 target price for the company. in a research report on Tuesday, May 5th. Berenberg Bank restated a “buy” rating and issued a GBX 308 price objective on shares of Legal & General Group in a research note on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Legal & General Group from GBX 205 to GBX 220 and gave the company an “underperform” rating in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of GBX 251.

Legal & General Group Stock Performance

Shares of LON LGEN traded up GBX 1.04 during trading hours on Tuesday, reaching GBX 294.14. The stock had a trading volume of 13,803,810 shares, compared to its average volume of 35,327,648. The firm has a market cap of £16.14 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.34 and a beta of 0.79. The company has a current ratio of 59.08, a quick ratio of 0.50 and a debt-to-equity ratio of 1,100.04. Legal & General Group has a fifty-two week low of GBX 217.20 and a fifty-two week high of GBX 302.30. The firm has a 50-day moving average of GBX 270.16 and a 200-day moving average of GBX 263.66.

Legal & General Group announced that its board has approved a stock buyback program on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Legal & General Group

In related news, insider Mark Jordy purchased 3,683 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was acquired at an average price of GBX 287 per share, for a total transaction of £10,570.21. Also, insider Andrew Kail sold 204,858 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of GBX 271, for a total value of £555,165.18. Over the last three months, insiders have bought 8,519 shares of company stock valued at $2,299,198. Corporate insiders own 0.59% 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. 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.