Legal & General Group (LON:LGEN) Sets New 1-Year High – Here’s What Happened

Legal & General Group Plc (LON:LGEN)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 514.70 ($6.47) and last traded at GBX 242.60 ($3.05), with a volume of 22106482 shares trading hands. The stock had previously closed at GBX 242.20 ($3.04).

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LGEN. JPMorgan Chase & Co. boosted their target price on Legal & General Group from GBX 290 ($3.64) to GBX 295 ($3.71) and gave the company an “overweight” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “top pick” rating on shares of Legal & General Group in a report on Friday, December 6th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 265 ($3.33) price objective on shares of Legal & General Group in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 276.67 ($3.48).

Legal & General Group Trading Up 0.0 %

The business’s 50 day simple moving average is GBX 231.98 and its 200-day simple moving average is GBX 226.93. The stock has a market capitalization of £14.20 billion, a P/E ratio of 44.73, a PEG ratio of 2.34 and a beta of 1.31. The company has a debt-to-equity ratio of 155.18, a current ratio of 1.50 and a quick ratio of 0.50.

Insider Activity

In related news, insider John Kingman bought 716 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was acquired at an average cost of GBX 230 ($2.89) per share, with a total value of £1,646.80 ($2,069.62). Also, insider Henrietta Baldock purchased 1,046 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of GBX 236 ($2.97) per share, with a total value of £2,468.56 ($3,102.38). Insiders purchased 2,880 shares of company stock worth $658,614 in the last quarter. 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.