Legal & General Group (LON:LGEN) to Buyback 0 Outstanding Shares

Legal & General Group (LON:LGEN) announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price 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 reissued a “buy” rating and issued a GBX 308 price target on shares of Legal & General Group in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 262.20.

Legal & General Group Stock Performance

Shares of LGEN stock opened at GBX 246.30 on Friday. Legal & General Group has a 52-week low of GBX 206.80 and a 52-week high of GBX 279.50. The company has a market capitalization of £13.87 billion, a PE ratio of 55.22, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The business’s fifty day moving average is GBX 264.17 and its 200 day moving average is GBX 250.54.

Legal & General Group (LON:LGEN) last posted its earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a return on equity of 3.89% and a net margin of 1.49%. On average, sell-side analysts forecast that Legal & General Group will post 24.2376446 EPS for the current fiscal year.

Legal & General Group News Roundup

Here are the key news stories impacting Legal & General Group this week:

• Positive Sentiment: Board authorizes a share buyback, signalling management thinks the stock is undervalued; buybacks are supportive for EPS and shareholder returns. Legal & General Group (LON:LGEN) Board Initiates Share Buyback Plan
• Positive Sentiment: Berenberg reaffirmed a “buy” rating with a GBX 308 price target, providing third?party support for the stock’s upside potential. Broker Ratings / Berenberg
• Neutral Sentiment: Coverage pieces weighing whether the recent price pullback creates a valuation opportunity — these analyses highlight yield and long?term growth but debate near?term risk/returns. Is Legal & General Group (LSE:LGEN) Share Price Slide Creating A Valuation Opportunity?
• Neutral Sentiment: Highlights from the H2 earnings call provide detail on drivers of results and management commentary that investors will parse for guidance and capital management priorities. Legal & General Group H2 Earnings Call Highlights
• Neutral Sentiment: MarketWatch notes the stock outperformed intraday with very high volume — the surge reflects strong investor attention and trade activity following the company’s announcements and analyst commentary. Legal & General Group climbs Friday, outperforms market
• Negative Sentiment: Earnings and capital metrics disappointed in places — the company marginally missed profit estimates and reported a lower solvency ratio, which prompted an earlier sell?off despite the buyback news. These outcomes increase near?term execution and capital concerns. Britain’s L&G shares fall after earnings misses, lower solvency ratio
• Negative Sentiment: Insider selling disclosed: the Group Chief Risk Officer reported a share sale, which some investors interpret as a cautionary signal even if it may be routine or pre?planned. Legal & General discloses share sale by Chief Risk Officer

Insiders Place Their Bets

In other Legal & General Group news, insider Laura Wade-Gery acquired 938 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of GBX 267 per share, with a total value of £2,504.46. Also, insider John Kingman acquired 614 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of GBX 267 per share, for a total transaction of £1,639.38. In the last 90 days, insiders have bought 10,428 shares of company stock worth $2,757,069. 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.