Shares of Legal & General Group Plc (LON:LGEN) were down 0.9% during mid-day trading on Wednesday . The company traded as low as GBX 260.86 ($3.51) and last traded at GBX 261.70 ($3.52). Approximately 14,430,716 shares changed hands during trading, an increase of 10% from the average daily volume of 13,170,000 shares. The stock had previously closed at GBX 264 ($3.55).
LGEN has been the subject of several recent analyst reports. Shore Capital restated a “buy” rating on shares of Legal & General Group in a research report on Tuesday, November 14th. Barclays cut their price objective on Legal & General Group from GBX 280 ($3.77) to GBX 279 ($3.76) and set an “overweight” rating for the company in a report on Monday, September 11th. Citigroup upgraded Legal & General Group to a “buy” rating and set a GBX 296 ($3.98) price objective for the company in a report on Thursday, November 2nd. Numis Securities upgraded Legal & General Group to an “add” rating and set a GBX 305 ($4.10) price objective for the company in a report on Friday, November 3rd. Finally, Deutsche Bank restated a “hold” rating on shares of Legal & General Group in a report on Friday, September 8th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 259.39 ($3.49).
In related news, insider John Kingman acquired 629 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were purchased at an average cost of GBX 261 ($3.51) per share, with a total value of £1,641.69 ($2,209.54). Also, insider Toby Strauss acquired 950 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were bought at an average cost of GBX 264 ($3.55) per share, for a total transaction of £2,508 ($3,375.50). Insiders purchased 2,426 shares of company stock valued at $640,205 in the last three months.
About Legal & General Group
Legal & General Group Plc is a holding company. The Company, together with its subsidiaries, transacts life assurance and long-term savings business, investment management and general insurance and health business. It operates through six segments: Legal & General Retirement (LGR), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), Legal & General Insurance (LGI), Savings and General Insurance (GI).
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