Legal & General Group (LON:LGEN) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Legal & General Group Plc (LON:LGEN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 231.12 ($3.06) and traded as high as GBX 239.80 ($3.17). Legal & General Group shares last traded at GBX 238.40 ($3.16), with a volume of 19,407,727 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 265 ($3.51) target price on shares of Legal & General Group in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 267 ($3.53).

Legal & General Group Trading Up 1.4 %

The firm has a market cap of £14.43 billion, a PE ratio of 45.47, 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 quick ratio of 0.50 and a current ratio of 1.50. The company has a 50 day simple moving average of GBX 239.79 and a two-hundred day simple moving average of GBX 231.20.

Legal & General Group (LON:LGEN) last issued 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%. Analysts expect that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

Legal & General Group Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, April 24th will be issued 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 dividend payout ratio is 387.68%.

Legal & General Group declared that its Board of Directors has authorized a share repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider António Simões sold 197,279 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of GBX 244 ($3.23), for a total value of £481,360.76 ($637,141.97). Also, insider Henrietta Baldock purchased 1,016 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of GBX 243 ($3.22) per share, with a total value of £2,468.88 ($3,267.88). Over the last quarter, insiders bought 43,188 shares of company stock worth $10,467,891. Company insiders own 0.88% 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.