JPMorgan Chase & Co. Cuts Legal & General Group (LON:LGEN) Price Target to GBX 270

Legal & General Group (LON:LGEN) had its price target dropped by research analysts at JPMorgan Chase & Co. from GBX 285 to GBX 270 in a research report issued on Thursday,London Stock Exchange reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 9.97% from the stock’s current price.

A number of other analysts have also commented on the company. Berenberg Bank boosted their target price on Legal & General Group from GBX 353 to GBX 385 and gave the company a “buy” rating in a research report on Thursday, August 6th. Peel Hunt restated an “add” rating and set a GBX 320 price objective on shares of Legal & General Group in a report on Tuesday, August 4th. Citigroup lowered Legal & General Group to a “sell” rating and lowered their target price for the stock from GBX 251 to GBX 245 in a research report on Monday. Royal Bank Of Canada increased their target price on Legal & General Group from GBX 255 to GBX 270 and gave the stock an “underperform” rating in a report on Tuesday. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of GBX 276.86.

Legal & General Group Trading Down 0.9%

Shares of LGEN opened at GBX 299.90 on Thursday. The company has a market capitalization of £16.38 billion, a PE ratio of 30.79, a PEG ratio of 2.34 and a beta of 0.80. Legal & General Group has a 12 month low of GBX 217.20 and a 12 month high of GBX 318.10. The stock’s 50-day moving average price is GBX 290.95 and its two-hundred day moving average price is GBX 270.72.

Legal & General Group (LON:LGEN) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 27.28%. Equities research analysts predict that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Insider Transactions at Legal & General Group

In other Legal & General Group news, insider Mark Jordy bought 3,494 shares of Legal & General Group stock in a transaction dated Monday, August 3rd. The stock was purchased at an average price of GBX 303 per share, for a total transaction of £10,586.82. Insiders acquired 8,390 shares of company stock valued at $2,444,751 over the last three months. Company insiders own 0.61% of the company’s stock.

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.