Short Interest in Legal & General Group Plc (OTCMKTS:LGGNY) Grows By 381.4%

Legal & General Group Plc (OTCMKTS:LGGNY – Get Rating) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 54,400 shares, a growth of 381.4% from the April 30th total of 11,300 shares. Based on an average trading volume of 194,200 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on LGGNY. Barclays dropped their price target on Legal & General Group from GBX 390 ($4.85) to GBX 375 ($4.66) in a research note on Thursday, March 9th. JPMorgan Chase & Co. dropped their price target on Legal & General Group from GBX 375 ($4.66) to GBX 355 ($4.42) in a research note on Thursday, March 9th. Berenberg Bank downgraded Legal & General Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. Finally, Morgan Stanley lowered their target price on Legal & General Group from GBX 295 ($3.67) to GBX 285 ($3.54) in a research note on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Legal & General Group has an average rating of “Hold” and an average price target of $325.00.

Legal & General Group Stock Down 0.6 %

Shares of LGGNY traded down $0.09 during mid-day trading on Thursday, hitting $14.30. The company’s stock had a trading volume of 123,947 shares, compared to its average volume of 38,480. The firm has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $15.21. Legal & General Group has a 1-year low of $11.18 and a 1-year high of $17.63.

Legal & General Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 12th. Investors of record on Friday, April 28th will be issued a dividend of $0.7883 per share. The ex-dividend date of this dividend is Thursday, April 27th. This is a boost from Legal & General Group’s previous dividend of $0.30. This represents a yield of 6.8%.

Legal & General Group Company Profile

(Get Rating)

Legal & General Group Plc engages in the provision of risk, savings and investment management products and services. It operates through the following segments: Legal & General Retirement (LGR); Legal & General Investment Management (LGIM); Legal & General Capital (LGC); and Legal & General Insurance (LGI).