Legal & General Group Plc (LON:LGEN) Insider Purchases £48,200 in Stock

Legal & General Group Plc (LON:LGEN) insider Tushar Morzaria acquired 20,000 shares of Legal & General Group stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of GBX 241 ($3.12) per share, with a total value of £48,200 ($62,346.40).

Legal & General Group Trading Up 1.1 %

Shares of LGEN stock opened at GBX 243.02 ($3.14) on Friday. Legal & General Group Plc has a 1 year low of GBX 211.40 ($2.73) and a 1 year high of GBX 266.20 ($3.44). The firm’s fifty day simple moving average is GBX 237.70 and its 200 day simple moving average is GBX 229.36. The firm has a market capitalization of £14.24 billion, a P/E ratio of 44.86, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18.

Legal & General Group (LON:LGEN) last announced its earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) 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, sell-side analysts predict that Legal & General Group Plc will post 24.2376446 EPS for the current year.

Legal & General Group declared that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Berenberg Bank restated a “buy” rating and issued a GBX 265 ($3.43) price objective on shares of Legal & General Group in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on shares of Legal & General Group from GBX 290 ($3.75) to GBX 295 ($3.82) and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 267 ($3.45).

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.