Legal & General Group (LON:LGEN) Hits New 12-Month Low – Here’s Why

Legal & General Group Plc (LON:LGEN) reached a new 52-week low during trading on Monday . The stock traded as low as GBX 206.80 ($2.64) and last traded at GBX 208.50 ($2.66), with a volume of 731486313 shares traded. The stock had previously closed at GBX 225.30 ($2.88).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 265 ($3.39) price objective on shares of Legal & General Group in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 267 ($3.41).

Legal & General Group Price Performance

The stock has a 50 day moving average of GBX 240.82 and a 200-day moving average of GBX 231.06. The stock has a market capitalization of £12.75 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18.

Legal & General Group (LON:LGEN) last issued its earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. On average, equities research analysts anticipate that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

Legal & General Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, April 24th will be given a dividend of GBX 15.36 ($0.20) per share. The ex-dividend date is Thursday, April 24th. This is a positive change from Legal & General Group’s previous dividend of $6.00. This represents a dividend yield of 6.18%. Legal & General Group’s dividend payout ratio (DPR) is 387.68%.

Legal & General Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Legal & General Group news, insider Henrietta Baldock acquired 1,016 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of GBX 243 ($3.11) per share, with a total value of £2,468.88 ($3,154.72). Also, insider John Kingman bought 677 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of GBX 243 ($3.11) per share, for a total transaction of £1,645.11 ($2,102.11). Insiders have bought a total of 43,188 shares of company stock valued at $10,467,891 over the last quarter. 0.88% 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.