Legal & General Group (OTCMKTS:LGGNY) Shares Gap Down After Analyst Downgrade

Legal & General Group PLC (OTCMKTS:LGGNY) shares gapped down before the market opened on Tuesday after The Goldman Sachs Group downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $21.25, but opened at $20.35. Legal & General Group shares last traded at $20.3950, with a volume of 9,173 shares.

A number of other research firms have also recently weighed in on LGGNY. Citigroup cut Legal & General Group from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th. Jefferies Financial Group cut shares of Legal & General Group from a “hold” rating to a “moderate sell” rating in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Legal & General Group from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell”.

Legal & General Group Stock Up 0.4%

The business has a fifty day moving average of $19.76 and a 200 day moving average of $18.33. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 2.12.

About Legal & General Group

Legal & General Group is a London‑headquartered multinational financial services company with roots dating back to the 19th century. The firm provides a range of life insurance, retirement and protection products alongside savings and workplace pension solutions. Over its history it has expanded beyond traditional insurance into asset management and long‑term investment activities aimed at serving both individual and institutional clients.

Core operations include life assurance, annuities and pension de‑risking for corporate clients, together with retail and workplace pension provision.