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 passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 261.69 and traded as high as GBX 288.90. Legal & General Group shares last traded at GBX 287.25, with a volume of 10,483,418 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LGEN shares. Citigroup boosted their target price on Legal & General Group from GBX 2,490 to GBX 2,510 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Berenberg Bank reiterated a “buy” rating and issued a GBX 308 price objective on shares of Legal & General Group in a report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Legal & General Group from GBX 205 to GBX 220 and gave the stock an “underperform” rating in a research report on Monday, March 23rd. Finally, Jefferies Financial Group cut shares of Legal & General Group to an “underperform” rating and set a GBX 185 target price for the company. in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 573.71.

Legal & General Group Trading Up 0.4%

The firm has a market cap of £15.76 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.34 and a beta of 0.81. The business has a 50-day moving average of GBX 267.22 and a 200-day moving average of GBX 261.69. The company has a debt-to-equity ratio of 1,100.04, a current ratio of 59.08 and a quick ratio of 0.50.

Legal & General Group announced that its board has approved a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Legal & General Group

In other news, insider Laura Wade-Gery purchased 988 shares of the business’s stock in a transaction on Friday, May 1st. The stock was purchased at an average price of GBX 253 per share, for a total transaction of £2,499.64. Also, insider Andrew Kail sold 204,858 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of GBX 271, for a total transaction of £555,165.18. Insiders acquired 4,758 shares of company stock valued at $1,219,791 in the last 90 days. Company insiders own 0.59% 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. 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.