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

Legal & General Group (LON:LGEN) posted its quarterly earnings data on Wednesday. The financial services provider reported GBX 2.89 ($0.04) earnings per share 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 Price Performance

Shares of LON LGEN opened at GBX 244.10 ($3.16) on Friday. The firm has a market capitalization of £14.31 billion, a P/E ratio of 45.06, a PEG ratio of 2.34 and a beta of 1.31. Legal & General Group has a one year low of GBX 211.40 ($2.74) and a one year high of GBX 266.20 ($3.45). The company’s fifty day moving average is GBX 237.42 and its two-hundred day 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.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Legal & General Group news, insider John Kingman acquired 716 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of GBX 230 ($2.98) per share, for a total transaction of £1,646.80 ($2,133.16). Also, insider Henrietta Baldock acquired 1,046 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average price of GBX 236 ($3.06) per share, for a total transaction of £2,468.56 ($3,197.62). In the last ninety days, insiders have purchased 23,455 shares of company stock worth $5,642,935. Corporate insiders own 0.88% of the company’s stock.

Legal & General Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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.