Legal & General Group (LON:LGEN) Shares Break Above 200 Day Moving Average – What’s Next?

Legal & General Group Plc (LON:LGEN)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 282.25 and traded as high as GBX 297.90. Legal & General Group shares last traded at GBX 295.80, with a volume of 32,352,428 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LGEN shares. JPMorgan Chase & Co. decreased their target price on shares of Legal & General Group from GBX 285 to GBX 270 and set an “underweight” rating on the stock in a research note on Thursday, August 13th. Citigroup lowered shares of Legal & General Group to a “sell” rating and dropped their price target for the stock from GBX 251 to GBX 245 in a research report on Monday, August 10th. Royal Bank Of Canada reiterated an “underperform” rating and issued a GBX 270 price target on shares of Legal & General Group in a research report on Wednesday, September 2nd. Berenberg Bank increased their price objective on shares of Legal & General Group from GBX 353 to GBX 385 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group restated an “underperform” rating and set a GBX 185 price objective 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 issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of GBX 276.86.

Legal & General Group Stock Up 0.7%

The stock has a market cap of £16.16 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The business has a 50 day moving average price of GBX 293.22 and a two-hundred day moving average price of GBX 282.54.

Legal & General Group (LON:LGEN) last issued its earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share (EPS) for the quarter. Legal & General Group had a return on equity of 27.28% and a net margin of 0.91%. On average, research analysts forecast that Legal & General Group Plc will post 24.24 earnings per share for the current year.

Insider Transactions at Legal & General Group

In related news, insider Mark Jordy acquired 3,671 shares of Legal & General Group stock in a transaction dated Thursday, October 1st. The shares were purchased at an average price of GBX 288 per share, for a total transaction of £10,572.48. Over the last ninety days, insiders have purchased 11,042 shares of company stock worth $3,240,907. Company 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.