Legal & General Group (LON:LGEN) Issues Earnings Results

Legal & General Group (LON:LGEN) announced its quarterly earnings results on Wednesday. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%.

Legal & General Group Stock Performance

Shares of LGEN stock opened at GBX 244.90 ($3.17) on Friday. The company has a market cap of £14.35 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. Legal & General Group has a 52 week low of GBX 211.40 ($2.74) and a 52 week high of GBX 266.20 ($3.45). The firm has a 50 day moving average of GBX 237.42 and a 200-day moving average of GBX 229.27. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 155.18.

Insiders Place Their Bets

In other Legal & General Group news, insider Tushar Morzaria purchased 20,000 shares of Legal & General Group stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of GBX 241 ($3.12) per share, with a total value of £48,200 ($62,435.23). Also, insider Henrietta Baldock purchased 1,016 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of GBX 243 ($3.15) per share, with a total value of £2,468.88 ($3,198.03). Over the last ninety days, insiders purchased 23,455 shares of company stock worth $5,642,935. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LGEN. Deutsche Bank Aktiengesellschaft reaffirmed a “top pick” rating on shares of Legal & General Group in a research report on Friday, December 6th. Berenberg Bank restated a “buy” rating and set a GBX 265 ($3.43) price target on shares of Legal & General Group in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Legal & General Group from GBX 290 ($3.76) to GBX 295 ($3.82) and gave the company an “overweight” rating 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 267 ($3.46).

Legal & General Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.