Legal & General Group Plc (LGEN) Shares Up 1.2% on Analyst Upgrade

Legal & General Group Plc (LON:LGEN) shot up 1.2% on Monday after Jefferies Group raised their price target on the stock from GBX 249 to GBX 253. Jefferies Group currently has a hold rating on the stock. Legal & General Group Plc traded as high as GBX 259.30 ($3.35) and last traded at GBX 257.10 ($3.32). 11,363,671 shares changed hands during trading, a decline of 15% from the average session volume of 13,399,200 shares. The stock had previously closed at GBX 254 ($3.28).

Other equities research analysts also recently issued reports about the stock. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a GBX 197 ($2.54) target price on shares of Legal & General Group Plc in a research note on Wednesday, June 14th. Deutsche Bank AG upped their target price on shares of Legal & General Group Plc from GBX 255 ($3.29) to GBX 270 ($3.49) and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a GBX 240 ($3.10) target price on shares of Legal & General Group Plc in a research note on Thursday, June 8th. Macquarie reaffirmed an “underperform” rating and set a GBX 201 ($2.60) target price on shares of Legal & General Group Plc in a research note on Wednesday, May 24th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a GBX 280 ($3.62) target price on shares of Legal & General Group Plc in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 256.65 ($3.31).

In related news, insider John Kingman bought 633 shares of the stock in a transaction dated Friday, September 1st. The stock was acquired at an average price of GBX 260 ($3.36) per share, for a total transaction of £1,645.80 ($2,125.53). Also, insider Toby Strauss purchased 979 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were acquired at an average price of GBX 257 ($3.32) per share, with a total value of £2,516.03 ($3,249.43). In the last 90 days, insiders bought 2,546 shares of company stock valued at $667,429.

The firm’s market capitalization is GBX 15.32 billion. The firm has a 50 day moving average price of GBX 264.88 and a 200 day moving average price of GBX 256.61.

The business also recently declared a dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be paid a GBX 4.30 ($0.06) dividend. The ex-dividend date is Thursday, August 17th. This represents a dividend yield of 1.58%.

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About Legal & General Group Plc

Legal & General Group Plc is a holding company. The Company, together with its subsidiaries, transacts life assurance and long-term savings business, investment management and general insurance and health business. It operates through six segments: Legal & General Retirement (LGR), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), Legal & General Insurance (LGI), Savings and General Insurance (GI).

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