Legal & General Group (LON:LGEN) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Legal & General Group Plc (LON:LGEN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 273.07 and traded as high as GBX 298.34. Legal & General Group shares last traded at GBX 292.39, with a volume of 55,988,844 shares.

Analyst Upgrades and Downgrades

LGEN has been the subject of several research analyst reports. Berenberg Bank upped their price objective on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Legal & General Group from GBX 255 to GBX 270 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. Peel Hunt reaffirmed an “add” rating and issued a GBX 320 target price on shares of Legal & General Group in a report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price target on Legal & General Group from GBX 285 to GBX 270 and set an “underweight” rating on the stock in a report on Thursday, August 13th. Finally, Jefferies Financial Group restated an “underperform” rating and issued a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of GBX 276.86.

Legal & General Group Price Performance

The business’s 50-day moving average price is GBX 295.02 and its two-hundred day moving average price is GBX 273.07. The firm has a market cap of £15.97 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80.

Legal & General Group (LON:LGEN) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share for the quarter. Legal & General Group had a return on equity of 27.28% and a net margin of 0.91%. As a group, sell-side analysts forecast that Legal & General Group Plc will post 24.2376446 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Jordy purchased 3,683 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were bought at an average price of GBX 287 per share, with a total value of £10,570.21. Insiders have purchased a total of 8,390 shares of company stock worth $2,444,751 over the last ninety days. Corporate insiders own 0.61% 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. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.