Legal & General Group (LON:LGEN) Shares Cross Above 200 Day Moving Average – Should You Sell?

Legal & General Group Plc (LON:LGEN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 251.46 and traded as high as GBX 266.37. Legal & General Group shares last traded at GBX 262.63, with a volume of 66,584,406 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LGEN shares. Royal Bank Of Canada raised 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, March 23rd. Berenberg Bank restated a “buy” rating and set a GBX 308 target price on shares of Legal & General Group in a report on Thursday, March 12th. Citigroup raised their target price on shares of Legal & General Group from GBX 243 to GBX 249 and gave the stock a “neutral” rating in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group raised their target price on shares of Legal & General Group from GBX 249 to GBX 263 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 261.67.

Legal & General Group Stock Performance

The business’s 50 day moving average is GBX 258.43 and its 200 day moving average is GBX 251.46. The stock has a market cap of £14.74 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81.

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

Legal & General Group declared that its board has approved a share repurchase program on Wednesday, March 11th that permits the company to repurchase 0 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Legal & General Group

In other news, insider John Kingman acquired 620 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of GBX 265 per share, with a total value of £1,643. Also, insider Laura Wade-Gery acquired 944 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of GBX 265 per share, with a total value of £2,501.60. In the last ninety days, insiders have acquired 6,884 shares of company stock worth $1,831,202. 0.59% of the stock is currently 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.