Legal & General Group (LON:LGEN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Legal & General Group Plc (LON:LGEN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 249.58 and traded as high as GBX 266.80. Legal & General Group shares last traded at GBX 265.47, with a volume of 1,326,193,000 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a report on Wednesday, January 21st. Peel Hunt reiterated an “add” rating and issued a GBX 255 price objective on shares of Legal & General Group in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada upped their target price on Legal & General Group from GBX 200 to GBX 210 and gave the stock an “underperform” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Legal & General Group currently has a consensus rating of “Hold” and a consensus target price of GBX 258.40.

Legal & General Group Stock Up 0.9%

The firm has a 50-day simple moving average of GBX 259.94 and a two-hundred day simple moving average of GBX 249.58. The stock has a market cap of £14.95 billion, a P/E ratio of 59.52, a PEG 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 released its quarterly earnings results on Monday, December 15th. The financial services provider reported GBX 2.89 earnings per share for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. Equities research analysts expect that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Laura Wade-Gery purchased 1,024 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was bought at an average price of GBX 244 per share, with a total value of £2,498.56. Also, insider Ric Lewis bought 928 shares of Legal & General Group stock in a transaction on Monday, December 1st. The stock was acquired at an average cost of GBX 244 per share, for a total transaction of £2,264.32. Insiders have purchased a total of 10,913 shares of company stock valued at $2,797,634 over the last quarter. 0.59% of the stock is owned by corporate insiders.

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.