Legal & General Group Plc (LON:LGEN) Insider Purchases £48,200 in Stock

Legal & General Group Plc (LON:LGEN) insider Tushar Morzaria purchased 20,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of GBX 241 ($3.12) per share, for a total transaction of £48,200 ($62,346.40).

Legal & General Group Stock Up 1.1 %

Shares of LON LGEN opened at GBX 243.02 ($3.14) on Friday. The firm’s 50-day simple moving average is GBX 237.70 and its 200 day simple moving average is GBX 229.36. The company has a market cap of £14.24 billion, a price-to-earnings ratio of 44.86, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 155.18. Legal & General Group Plc has a 12-month low of GBX 211.40 ($2.73) and a 12-month high of GBX 266.20 ($3.44).

Legal & General Group (LON:LGEN) last issued its quarterly earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. On average, research analysts expect that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LGEN. Deutsche Bank Aktiengesellschaft reissued a “top pick” rating on shares of Legal & General Group in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of Legal & General Group from GBX 290 ($3.75) to GBX 295 ($3.82) and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 265 ($3.43) price target on shares of Legal & General Group in a research report on Monday, February 24th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 267 ($3.45).

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.