Legal & General Group (LON:LGEN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Legal & General Group Plc (LON:LGEN) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 229.01 ($2.97) and traded as high as GBX 250 ($3.24). Legal & General Group shares last traded at GBX 245 ($3.18), with a volume of 15,275,865 shares.

Wall Street Analyst Weigh In

LGEN has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Legal & General Group from GBX 290 ($3.76) to GBX 295 ($3.83) and gave the company an “overweight” rating in a research note on Friday, December 6th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 265 ($3.44) price objective on shares of Legal & General Group in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Legal & General Group currently has an average rating of “Moderate Buy” and a consensus price target of GBX 267 ($3.46).

Legal & General Group Stock Performance

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 company has a 50-day moving average of GBX 237.20 and a 200-day moving average of GBX 229.19. The firm has a market capitalization of £14.02 billion, a price-to-earnings ratio of 44.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31.

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

Insider Transactions at Legal & General Group

In related news, insider John Kingman purchased 716 shares of Legal & General Group stock in a transaction dated Thursday, January 2nd. The stock was bought at an average cost of GBX 230 ($2.98) per share, with a total value of £1,646.80 ($2,135.65). Also, insider Henrietta Baldock acquired 1,016 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of GBX 243 ($3.15) per share, with a total value of £2,468.88 ($3,201.76). Over the last quarter, insiders bought 3,455 shares of company stock worth $822,935. Insiders own 0.88% 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.