Citigroup Issues Positive Forecast for Legal & General Group (LON:LGEN) Stock Price

Legal & General Group (LON:LGEN) had its price objective boosted by equities research analysts at Citigroup from GBX 243 to GBX 249 in a report issued on Tuesday,Digital Look reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 5.02% from the stock’s current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a report on Wednesday, January 21st. 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, Royal Bank Of Canada raised their target price on shares of Legal & General Group from GBX 205 to GBX 220 and gave the company an “underperform” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Legal & General Group presently has an average rating of “Hold” and an average price target of GBX 261.67.

Legal & General Group Price Performance

LGEN opened at GBX 237.10 on Tuesday. The firm has a market capitalization of £13.35 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. Legal & General Group has a one year low of GBX 206.80 and a one year high of GBX 279.50. The company has a fifty day moving average price of GBX 261.70 and a 200-day moving average price of GBX 250.56.

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

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

Insiders Place Their Bets

In other Legal & General Group news, insider Mark Jordy purchased 986 shares of Legal & General Group stock in a transaction on Monday, March 2nd. The shares were acquired at an average cost of GBX 267 per share, for a total transaction of £2,632.62. Also, insider Laura Wade-Gery purchased 938 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were acquired at an average cost of GBX 267 per share, for a total transaction of £2,504.46. Insiders have bought 10,428 shares of company stock valued at $2,757,069 over 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.