Legal & General Group (LON:LGEN) Releases Earnings Results

Legal & General Group (LON:LGEN - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Legal & General Group had a return on equity of 7.79% and a net margin of 0.67%.

Legal & General Group Stock Up 0.8 %

LGEN stock traded up GBX 1.90 ($0.02) during midday trading on Thursday, reaching GBX 241.20 ($3.12). The company had a trading volume of 66,361,086 shares, compared to its average volume of 18,437,332. The company has a 50 day moving average of GBX 237.42 and a two-hundred day moving average of GBX 229.27. The company has a market capitalization of £14.14 billion, a P/E ratio of 44.53, a PEG ratio of 2.34 and a beta of 1.31. Legal & General Group has a 1 year low of GBX 211.40 ($2.74) and a 1 year high of GBX 266.20 ($3.45). The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18.

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

Insider Activity at Legal & General Group

In other news, insider Henrietta Baldock bought 1,016 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of GBX 243 ($3.15) per share, for a total transaction of £2,468.88 ($3,198.03). Also, insider Tushar Morzaria acquired 20,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of GBX 241 ($3.12) per share, for a total transaction of £48,200 ($62,435.23). Over the last 90 days, insiders bought 23,455 shares of company stock valued at $5,642,935. Insiders own 0.88% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Berenberg Bank reaffirmed a "buy" rating and set a GBX 265 ($3.43) target price on shares of Legal & General Group in a report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on Legal & General Group from GBX 290 ($3.76) to GBX 295 ($3.82) and gave the company an "overweight" rating in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "top pick" rating on shares of Legal & General Group in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Legal & General Group has a consensus rating of "Moderate Buy" and a consensus price target of GBX 267 ($3.46).

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.