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

Legal & General Group Plc (LON:LGEN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 229.86 ($2.98) and traded as high as GBX 248.80 ($3.23). Legal & General Group shares last traded at GBX 244.30 ($3.17), with a volume of 17,441,053 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LGEN shares. JPMorgan Chase & Co. upped their price target on Legal & General Group from GBX 290 ($3.76) to GBX 295 ($3.83) and gave the stock an “overweight” rating in a research note on Friday, December 6th. Berenberg Bank restated a “buy” rating and set a GBX 265 ($3.44) price target on shares of Legal & General Group in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Legal & General Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 267 ($3.46).

Legal & General Group Price Performance

The company has a 50-day simple moving average of GBX 239.30 and a 200-day simple moving average of GBX 229.86. The stock has a market cap of £14.32 billion, a PE ratio of 45.10, a PEG ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a current ratio of 1.50 and a quick ratio of 0.50.

Legal & General Group (LON:LGEN) last posted its earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share for the quarter. Legal & General Group had a return on equity of 7.79% and a net margin of 0.67%. Sell-side analysts anticipate that Legal & General Group Plc will post 24.2376446 EPS for the current fiscal year.

Legal & General Group Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, April 24th will be issued a GBX 15.36 ($0.20) dividend. This is a positive change from Legal & General Group’s previous dividend of $6.00. The ex-dividend date is Thursday, April 24th. This represents a yield of 6.18%. Legal & General Group’s dividend payout ratio is 387.68%.

Legal & General Group announced that its board has approved a share repurchase plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Legal & General Group

In other news, insider John Kingman acquired 677 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of GBX 243 ($3.15) per share, for a total transaction of £1,645.11 ($2,133.18). Also, insider Tushar Morzaria acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of GBX 241 ($3.13) per share, for a total transaction of £48,200 ($62,500.00). Insiders have purchased a total of 23,455 shares of company stock valued at $5,642,935 over the last quarter. Insiders own 0.88% 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.