Citigroup Raises Legal & General Group (LON:LGEN) Price Target to GBX 249

Legal & General Group (LON:LGEN) had its price objective upped by investment analysts at Citigroup from GBX 243 to GBX 249 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective suggests a potential upside of 2.51% from the company’s previous close.

LGEN has been the topic of several other reports. Royal Bank Of Canada increased their target price on shares of Legal & General Group from GBX 205 to GBX 220 and gave the stock an “underperform” rating in a report on Monday. Berenberg Bank restated a “buy” rating and issued a GBX 308 price objective on shares of Legal & General Group in a research report on Thursday, March 12th. Finally, The Goldman Sachs Group raised their price objective on Legal & General Group from GBX 249 to GBX 263 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 261.67.

Legal & General Group Price Performance

Shares of LGEN stock opened at GBX 242.90 on Tuesday. The stock has a market cap of £13.68 billion, a PE ratio of 54.46, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The stock has a 50-day moving average of GBX 260.85 and a 200-day moving average of GBX 250.53. Legal & General Group has a one year low of GBX 206.80 and a one year high of GBX 279.50.

Legal & General Group (LON:LGEN) last released its quarterly earnings data on Wednesday, March 11th. The financial services provider reported GBX 831 earnings per share for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 15.89%. As a group, research analysts anticipate that Legal & General Group will post 24.2376446 earnings per share for the current year.

Legal & General Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to buyback 0 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Legal & General Group news, insider Ric Lewis bought 851 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of GBX 267 per share, with a total value of £2,272.17. Also, insider Mark Jordy bought 986 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of GBX 267 per share, with a total value of £2,632.62. Insiders acquired 10,428 shares of company stock valued at $2,757,069 over the last ninety days. 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.