Legal & General Group (LON:LGEN) Posts Quarterly Earnings Results

Legal & General Group (LON:LGEN) issued its 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 return on equity of 7.79% and a net margin of 0.67%.

Legal & General Group Stock Performance

Legal & General Group stock traded up GBX 2.80 ($0.04) during mid-day trading on Friday, reaching GBX 243.10 ($3.15). The company’s stock had a trading volume of 47,878,281 shares, compared to its average volume of 18,183,549. Legal & General Group has a 12-month low of GBX 211.40 ($2.74) and a 12-month high of GBX 266.20 ($3.45). The company has a market capitalization of £14.25 billion, a P/E ratio of 44.88, a PEG ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a quick ratio of 0.50 and a current ratio of 1.50. The firm’s fifty day moving average price is GBX 237.42 and its two-hundred day moving average price is GBX 229.27.

Analysts Set New Price Targets

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

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

Insider Activity at Legal & General Group

In other news, insider Henrietta Baldock purchased 1,046 shares of Legal & General Group stock in a transaction dated Monday, February 3rd. The stock was purchased at an average cost of GBX 236 ($3.06) per share, for a total transaction of £2,468.56 ($3,197.62). Also, insider John Kingman purchased 677 shares of Legal & General Group stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of GBX 243 ($3.15) per share, with a total value of £1,645.11 ($2,130.97). In the last ninety days, insiders acquired 23,455 shares of company stock worth $5,642,935. Corporate insiders own 0.88% of the company’s stock.

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.