Legal & General Group (LON:LGEN) Cut to Sell at Citigroup

Citigroup downgraded shares of Legal & General Group (LON:LGEN) to a sell rating in a research report sent to investors on Monday, Marketbeat reports. Citigroup currently has GBX 245 price target on the financial services provider’s stock, down from their previous price target of GBX 251.

LGEN has been the topic of several other research reports. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 255 target price on shares of Legal & General Group in a report on Wednesday, July 29th. Berenberg Bank upped their price target on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a “buy” rating in a report on Thursday, August 6th. Jefferies Financial Group reissued an “underperform” rating and set a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th. Finally, Peel Hunt reissued an “add” rating and issued a GBX 320 price target on shares of Legal & General Group in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Legal & General Group has an average rating of “Reduce” and an average target price of GBX 278.

Legal & General Group Stock Up 0.3%

LON LGEN opened at GBX 302.60 on Monday. The company has a 50-day simple moving average of GBX 290.95 and a two-hundred day simple moving average of GBX 270.72. Legal & General Group has a 12-month low of GBX 217.20 and a 12-month high of GBX 318.10. The firm has a market cap of £16.53 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 2.34 and a beta of 0.80.

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

Insiders Place Their Bets

In related news, insider Mark Jordy acquired 3,494 shares of Legal & General Group stock in a transaction on Monday, August 3rd. The shares were acquired at an average cost of GBX 303 per share, with a total value of £10,586.82. Insiders have acquired a total of 8,390 shares of company stock valued at $2,444,751 in the last quarter. Insiders own 0.61% 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.