Legal & General Group (LON:LGEN) Shares Pass Above 200 Day Moving Average – What’s Next?

Legal & General Group Plc (LON:LGEN)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 274.41 and traded as high as GBX 289.30. Legal & General Group shares last traded at GBX 287.10, with a volume of 14,853,769 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Legal & General Group from GBX 285 to GBX 270 and set an “underweight” rating on the stock in a research note on Thursday, August 13th. Peel Hunt reissued an “add” rating and set a GBX 320 price target on shares of Legal & General Group in a research report on Tuesday, August 4th. Berenberg Bank upped their price objective on shares of Legal & General Group from GBX 353 to GBX 385 and gave the company a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 270 target price on shares of Legal & General Group in a report on Wednesday, September 2nd. Finally, Jefferies Financial Group restated an “underperform” rating and issued a GBX 185 price target on shares of Legal & General Group in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of GBX 276.86.

Legal & General Group Trading Up 0.7%

The stock’s 50 day moving average is GBX 295.78 and its two-hundred day moving average is GBX 274.50. The stock has a market capitalization of £15.62 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79.

Legal & General Group (LON:LGEN) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported GBX 8.01 earnings per share (EPS) for the quarter. Legal & General Group had a return on equity of 27.28% and a net margin of 0.91%. On average, research analysts anticipate that Legal & General Group Plc will post 24.2376446 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mark Jordy purchased 3,651 shares of Legal & General Group stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of GBX 290 per share, with a total value of £10,587.90. In the last quarter, insiders purchased 11,056 shares of company stock valued at $3,241,178. Insiders own 0.61% of the company’s stock.

Legal & General Group Company Profile

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.