Legal & General Group (LON:LGEN) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Legal & General Group Plc (LON:LGEN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 272.27 and traded as high as GBX 292. Legal & General Group shares last traded at GBX 288.53, with a volume of 2,100,543,000 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Peel Hunt reaffirmed an “add” rating and set a GBX 320 target price on shares of Legal & General Group in a research report on Tuesday, August 4th. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 185 price target on shares of Legal & General Group in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Legal & General Group from GBX 255 to GBX 270 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. Berenberg Bank upped their price objective on shares of Legal & General Group from GBX 353 to GBX 385 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup lowered shares of Legal & General Group to a “sell” rating and dropped their price objective for the company from GBX 251 to GBX 245 in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of GBX 276.86.

Legal & General Group Price Performance

The firm has a market capitalization of £15.60 billion, a PE ratio of 29.33, a PEG ratio of 2.34 and a beta of 0.80. The firm’s fifty day moving average is GBX 294.27 and its two-hundred day moving average is GBX 272.36.

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

Insider Activity

In other Legal & General Group news, insider Mark Jordy bought 3,683 shares of Legal & General Group stock in a transaction dated Wednesday, July 1st. The stock was bought at an average cost of GBX 287 per share, with a total value of £10,570.21. Insiders purchased 8,390 shares of company stock valued at $2,444,751 over the last three months. Corporate 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.