Legal & General Group (LON:LGEN) Hits New 12-Month Low - Here's Why

Legal & General Group Plc (LON:LGEN - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as GBX 206.80 ($2.71) and last traded at GBX 208.50 ($2.73), with a volume of 731486313 shares trading hands. The stock had previously closed at GBX 225.30 ($2.95).

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 265 ($3.47) target price on shares of Legal & General Group in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Legal & General Group presently has an average rating of "Moderate Buy" and a consensus price target of GBX 267 ($3.49).

Legal & General Group Price Performance

The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50. The company's 50 day moving average price is GBX 239.60 and its 200-day moving average price is GBX 231.02. The company has a market cap of £13.54 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 2.34 and a beta of 1.31.

Legal & General Group (LON:LGEN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. On average, equities research analysts forecast that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

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Legal & General Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, April 24th will be given a dividend of GBX 15.36 ($0.20) per share. The ex-dividend date of this dividend is Thursday, April 24th. This is a positive change from Legal & General Group's previous dividend of $6.00. This represents a dividend yield of 6.18%. Legal & General Group's payout ratio is 387.68%.

Legal & General Group declared that its board has authorized a share buyback plan on Wednesday, March 12th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Henrietta Baldock acquired 1,046 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price of GBX 236 ($3.09) per share, with a total value of £2,468.56 ($3,231.10). Also, insider Tushar Morzaria bought 20,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of GBX 241 ($3.15) per share, for a total transaction of £48,200 ($63,089.01). In the last quarter, insiders have purchased 43,188 shares of company stock valued at $10,467,891. 0.88% of the stock is owned by corporate insiders.

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.