Insider Buying: Legal & General Group Plc (LON:LGEN) Insider Buys 20,000 Shares of Stock

Legal & General Group Plc (LON:LGEN) insider Tushar Morzaria acquired 20,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of GBX 241 ($3.12) per share, with a total value 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 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 52 week low of GBX 211.40 ($2.73) and a 52 week high of GBX 266.20 ($3.44). The firm’s fifty day moving average is GBX 237.70 and its 200 day 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 PEG ratio of 2.34 and a beta of 1.31.

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

Legal & General Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LGEN shares. Berenberg Bank restated a “buy” rating and issued a GBX 265 ($3.43) price objective on shares of Legal & General Group in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft restated a “top pick” rating on shares of Legal & General Group in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Legal & General Group has an average rating of “Moderate Buy” and an average price target 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.