Royal Bank Of Canada Forecasts Strong Price Appreciation for Legal & General Group (LON:LGEN) Stock

Legal & General Group (LON:LGEN) had its price target increased by equities researchers at Royal Bank Of Canada from GBX 200 to GBX 210 in a research note issued to investors on Monday,Digital Look reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price indicates a potential downside of 13.01% from the company’s previous close.

LGEN has been the subject of several other research reports. Peel Hunt reiterated an “add” rating and issued a GBX 255 price objective on shares of Legal & General Group in a research report on Wednesday, October 15th. JPMorgan Chase & Co. cut shares of Legal & General Group to a “neutral” rating and lowered their price objective for the company from GBX 290 to GBX 275 in a research report on Wednesday, August 13th. Finally, Berenberg Bank boosted their target price on shares of Legal & General Group from GBX 265 to GBX 289 and gave the stock a “buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Legal & General Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 257.25.

Legal & General Group Price Performance

Shares of LON LGEN traded up GBX 3.60 during midday trading on Monday, reaching GBX 241.40. 14,109,912 shares of the company traded hands, compared to its average volume of 20,089,994. Legal & General Group has a 12 month low of GBX 206.80 and a 12 month high of GBX 266.20. 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 stock’s 50-day simple moving average is GBX 239.49 and its 200-day simple moving average is GBX 246.64. The firm has a market cap of £13.59 billion, a PE ratio of 54.13, a PEG ratio of 2.34 and a beta of 1.31.

Legal & General Group (LON:LGEN) last announced its earnings results on Wednesday, August 6th. The financial services provider reported GBX 4.48 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%. As a group, equities analysts anticipate that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

Insider Buying and Selling at Legal & General Group

In related news, insider John Kingman bought 664 shares of the business’s stock in a transaction on Monday, September 1st. The shares were purchased at an average price of GBX 247 per share, with a total value of £1,640.08. Also, insider Ric Lewis bought 1,105 shares of the firm’s stock in a transaction dated Monday, September 1st. The shares were bought at an average price of GBX 247 per share, with a total value of £2,729.35. Insiders acquired 3,972 shares of company stock valued at $980,091 over the last quarter. 0.57% of the stock is owned by corporate 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.