Legal & General Group (LON:LGEN) Share Price Passes Above 200 Day Moving Average – What’s Next?

Legal & General Group Plc (LON:LGEN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 229.86 ($2.97) and traded as high as GBX 248.80 ($3.21). Legal & General Group shares last traded at GBX 244.30 ($3.15), with a volume of 17,441,053 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LGEN shares. Berenberg Bank reiterated a “buy” rating and set a GBX 265 ($3.42) price objective on shares of Legal & General Group in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Legal & General Group from GBX 290 ($3.74) to GBX 295 ($3.81) and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. Two 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 267 ($3.45).

Legal & General Group Stock Performance

The firm has a fifty day simple moving average of GBX 239.72 and a two-hundred day simple moving average of GBX 229.94. The firm has a market cap of £14.15 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a current ratio of 1.50 and a quick ratio of 0.50.

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 year.

Legal & General Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, June 5th. Investors 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 an increase from Legal & General Group’s previous dividend of $6.00. This represents a yield of 6.18%. Legal & General Group’s payout ratio is currently 387.68%.

Legal & General Group declared that its board has initiated a stock repurchase plan on Wednesday, March 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Legal & General Group

In related news, insider John Kingman acquired 716 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were purchased at an average cost of GBX 230 ($2.97) per share, for a total transaction of £1,646.80 ($2,126.28). Also, insider Tushar Morzaria acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of GBX 241 ($3.11) per share, for a total transaction of £48,200 ($62,233.70). Over the last quarter, insiders have bought 23,455 shares of company stock worth $5,642,935. 0.88% of the stock is owned by company insiders.

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.