Legal & General Group (LON:LGEN) Releases Earnings Results

Legal & General Group (LON:LGEN) posted its quarterly earnings results on Wednesday. The financial services provider reported GBX 2.89 ($0.04) EPS for the quarter, Digital Look Earnings reports. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%.

Legal & General Group Stock Performance

Shares of LON LGEN opened at GBX 243.90 ($3.16) on Friday. The business’s 50-day simple moving average is GBX 237.42 and its 200-day simple moving average is GBX 229.27. The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50. Legal & General Group has a 52 week low of GBX 211.40 ($2.74) and a 52 week high of GBX 266.20 ($3.45). The firm has a market cap of £14.29 billion, a price-to-earnings ratio of 45.03, a P/E/G ratio of 2.34 and a beta of 1.31.

Insider Buying and Selling

In other Legal & General Group news, insider Tushar Morzaria acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of GBX 241 ($3.12) per share, for a total transaction of £48,200 ($62,435.23). Also, insider Henrietta Baldock acquired 1,046 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of GBX 236 ($3.06) per share, with a total value of £2,468.56 ($3,197.62). In the last ninety days, insiders purchased 23,455 shares of company stock worth $5,642,935. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on LGEN. Berenberg Bank restated a “buy” rating and issued a GBX 265 ($3.43) target price on shares of Legal & General Group in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft reissued a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Legal & General Group from GBX 290 ($3.76) to GBX 295 ($3.82) and gave the company an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 267 ($3.46).

Legal & General Group announced that its board has initiated a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.