Legal & General Group (LON:LGEN) Authorizes Share Buyback Program

Legal & General Group (LON:LGEN) declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Legal & General Group Stock Down 6.8%

Shares of LGEN traded down GBX 17.50 on Wednesday, hitting GBX 241. The company’s stock had a trading volume of 100,291,734 shares, compared to its average volume of 21,951,705. The firm’s fifty day moving average price is GBX 264.88 and its 200-day moving average price is GBX 250.66. Legal & General Group has a fifty-two week low of GBX 206.80 and a fifty-two week high of GBX 279.50. The firm has a market capitalization of £13.57 billion, a price-to-earnings ratio of 54.04, a P/E/G ratio of 2.34 and a beta of 0.81.

Legal & General Group (LON:LGEN) last announced its earnings results on Wednesday, March 11th. The financial services provider reported GBX 831 EPS for the quarter. Legal & General Group had a net margin of 1.49% and a return on equity of 3.89%. As a group, equities analysts predict that Legal & General Group will post 24.2376446 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price objective on shares of Legal & General Group from GBX 249 to GBX 263 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Legal & General Group has a consensus rating of “Hold” and an average target price of GBX 258.40.

Insider Transactions at Legal & General Group

In other news, insider Mark Jordy acquired 1,006 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average cost of GBX 261 per share, for a total transaction of £2,625.66. Also, insider Laura Wade-Gery bought 957 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was purchased at an average price of GBX 261 per share, for a total transaction of £2,497.77. Insiders purchased 10,428 shares of company stock valued at $2,757,069 over the last three months. 0.59% of the stock is currently owned by corporate insiders.

Legal & General Group News Summary

Here are the key news stories impacting Legal & General Group this week:

• Positive Sentiment: Record share buyback bolsters capital return prospects and signals confidence from management. Legal & General launches record buyback
• Positive Sentiment: Some analyst/commentary pieces argue the profit improvement plus buybacks create a longer‑term case for patient investors. Profit Surge and Buybacks Build Case
• Neutral Sentiment: Quarterly results detail: GBX 831 EPS, ROE ~3.9%, net margin ~1.5% — useful for modeling near‑term earnings power but not yet a turnaround. Earnings release and slide deck
• Neutral Sentiment: Sector context: UK life insurers face margin pressure and credit‑exposure scrutiny, which increases investor sensitivity to capital and solvency metrics. UK life insurers face margin pressure
• Negative Sentiment: Company marginally missed annual profit estimates and reported a lower solvency ratio (~210%), which directly pressured the share price given investors’ focus on capital strength. Reuters: L&G misses estimates, lower solvency
• Negative Sentiment: Immediate market reaction was a sharp sell‑off (reports of a ~6% intraday drop) and unusually high volume, amplifying downside as investors reprice near‑term capital/earnings risk. Blockonomi: Stock plunges despite buyback

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. 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.