Royal Bank Of Canada Issues Positive Forecast for Legal & General Group (LON:LGEN) Stock Price

Legal & General Group (LON:LGEN) had its price target increased by Royal Bank Of Canada from GBX 205 to GBX 220 in a research report report published on Monday, MarketBeat reports. Royal Bank Of Canada currently has an underperform rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on LGEN. The Goldman Sachs Group upped their target price on Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Berenberg Bank reissued a “buy” rating and set a GBX 308 price target on shares of Legal & General Group in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 264.20.

Legal & General Group Stock Performance

Legal & General Group stock opened at GBX 236.20 on Monday. The business’s 50-day simple moving average is GBX 261.70 and its two-hundred day simple moving average is GBX 250.56. The company has a market cap of £13.30 billion, a PE ratio of 52.96, a PEG ratio of 2.34 and a beta of 0.81. Legal & General Group has a fifty-two week low of GBX 206.80 and a fifty-two week high of GBX 279.50.

Legal & General Group (LON:LGEN) last announced 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 return on equity of 15.89% and a net margin of 0.91%. As a group, analysts predict that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Legal & General Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Legal & General Group

In related news, insider Ric Lewis purchased 851 shares of Legal & General Group stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of GBX 267 per share, for a total transaction of £2,272.17. Also, insider António Simões sold 120,226 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of GBX 240, for a total value of £288,542.40. Over the last ninety days, insiders have bought 10,428 shares of company stock valued at $2,757,069. 0.59% of the stock is owned by 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.