Legal & General Group (LON:LGEN) Price Target Raised to GBX 220 at Royal Bank Of Canada

Legal & General Group (LON:LGEN) had its price target increased by equities research analysts at Royal Bank Of Canada from GBX 205 to GBX 220 in a research note issued on Monday,London Stock Exchange reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 6.86% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 308 price objective on shares of Legal & General Group in a research note on Thursday, March 12th. The Goldman Sachs Group increased their price target on Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 264.20.

Legal & General Group Stock Performance

LGEN traded down GBX 0.10 during mid-day trading on Monday, reaching GBX 236.20. 1,503,837,375 shares of the stock were exchanged, compared to its average volume of 49,988,031. The stock has a market capitalization of £13.30 billion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The company has a 50 day moving average price of GBX 262.25 and a two-hundred day moving average price of GBX 250.56. Legal & General Group has a 1 year low of GBX 206.80 and a 1 year high of GBX 279.50.

Legal & General Group (LON:LGEN) last announced its earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 15.89%. Sell-side analysts expect that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Legal & General Group announced that its board has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Legal & General Group

In other news, insider Ric Lewis acquired 868 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average price of GBX 261 per share, for a total transaction of £2,265.48. Also, insider Mark Jordy bought 1,006 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was purchased at an average cost of GBX 261 per share, with a total value of £2,625.66. Insiders have bought 10,428 shares of company stock valued at $2,757,069 in the last three months. Insiders own 0.59% 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. 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.