Legal & General Group (LON:LGEN) Earns Sector perform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Legal & General Group (LON:LGEN) in a report released on Thursday, MarketBeat reports. The brokerage currently has a GBX 245 ($3.13) price objective on the financial services provider’s stock.

LGEN has been the topic of several other reports. Jefferies Financial Group reaffirmed a hold rating and issued a GBX 255 ($3.26) price objective on shares of Legal & General Group in a research report on Thursday, June 13th. Berenberg Bank reaffirmed a buy rating and issued a GBX 289 ($3.69) price objective on shares of Legal & General Group in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Legal & General Group from GBX 300 ($3.83) to GBX 275 ($3.51) and set a buy rating on the stock in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a GBX 285 ($3.64) price target on shares of Legal & General Group in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of GBX 279 ($3.56).

Legal & General Group Stock Performance

LGEN stock opened at GBX 229.20 ($2.93) on Thursday. The stock has a market capitalization of £13.71 billion, a PE ratio of 3,274.29, a price-to-earnings-growth ratio of 2.34 and a beta of 1.35. Legal & General Group has a 12-month low of GBX 203.10 ($2.59) and a 12-month high of GBX 259 ($3.31). The company has a current ratio of 4.70, a quick ratio of 0.50 and a debt-to-equity ratio of 1,372.51. The stock’s 50 day simple moving average is GBX 228.57 and its 200 day simple moving average is GBX 240.25.

Legal & General Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, August 22nd will be paid a GBX 6 ($0.08) dividend. The ex-dividend date is Thursday, August 22nd. This represents a dividend yield of 2.77%. Legal & General Group’s dividend payout ratio (DPR) is 28,571.43%.

Insider Transactions at Legal & General Group

In related news, insider John Kingman acquired 7,978 shares of Legal & General Group stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of GBX 251 ($3.20) per share, for a total transaction of £20,024.78 ($25,567.90). In related news, insider John Kingman acquired 7,978 shares of Legal & General Group stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of GBX 251 ($3.20) per share, for a total transaction of £20,024.78 ($25,567.90). Also, insider Henrietta Baldock acquired 957 shares of Legal & General Group stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of GBX 254 ($3.24) per share, with a total value of £2,430.78 ($3,103.65). Insiders purchased 10,919 shares of company stock worth $2,701,876 in the last three months. Corporate insiders own 0.85% 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.