Analysts Set Legal & General Group Plc (LON:LGEN) Target Price at GBX 573.71

Legal & General Group Plc (LON:LGEN) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is GBX 251.

Several brokerages have recently issued reports on LGEN. Berenberg Bank reiterated a “buy” rating and issued a GBX 308 price target on shares of Legal & General Group in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on Legal & General Group from GBX 205 to GBX 220 and gave the company an “underperform” rating in a research note on Monday, March 23rd. Jefferies Financial Group cut Legal & General Group to an “underperform” rating and set a GBX 185 target price on the stock. in a research report on Tuesday, May 5th. Finally, Citigroup boosted their target price on Legal & General Group from GBX 249 to GBX 251 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th.

Insiders Place Their Bets

In related news, insider Mark Jordy purchased 3,683 shares of the stock in a transaction dated Wednesday, July 1st. The stock was bought at an average cost of GBX 287 per share, for a total transaction of £10,570.21. Also, insider John Kingman purchased 650 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average price of GBX 253 per share, with a total value of £1,644.50. Insiders have purchased 8,519 shares of company stock worth $2,299,198 over the last 90 days. Insiders own 0.59% of the company’s stock.

Legal & General Group Stock Performance

Shares of LON:LGEN opened at GBX 288.50 on Thursday. The company’s 50 day simple moving average is GBX 271.74 and its 200 day simple moving average is GBX 264.20. The stock has a market capitalization of £15.79 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79. 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 has a 1 year low of GBX 217.20 and a 1 year high of GBX 302.30.

Legal & General Group declared that its board has initiated a share buyback program on Wednesday, March 11th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.