Tushar Morzaria Buys 20,000 Shares of Legal & General Group Plc (LON:LGEN) Stock

Legal & General Group Plc (LON:LGEN) insider Tushar Morzaria bought 20,000 shares of Legal & General Group stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of GBX 241 ($3.12) per share, with a total value of £48,200 ($62,346.40).

Legal & General Group Price Performance

LGEN stock opened at GBX 243.02 ($3.14) on Friday. The firm has a 50 day moving average of GBX 237.70 and a 200-day moving average of GBX 229.36. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 155.18. Legal & General Group Plc has a 12 month low of GBX 211.40 ($2.73) and a 12 month high of GBX 266.20 ($3.44). The firm has a market capitalization of £14.24 billion, a P/E ratio of 44.86, a price-to-earnings-growth ratio of 2.34 and a beta of 1.31.

Legal & General Group (LON:LGEN) last announced its earnings results on Wednesday, March 12th. The financial services provider reported GBX 2.89 ($0.04) earnings per share (EPS) for the quarter. Legal & General Group had a net margin of 0.67% and a return on equity of 7.79%. As a group, sell-side analysts predict that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

Legal & General Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LGEN shares. Deutsche Bank Aktiengesellschaft reiterated a “top pick” rating on shares of Legal & General Group in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Legal & General Group from GBX 290 ($3.75) to GBX 295 ($3.82) and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Berenberg Bank restated 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. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Legal & General Group has an average rating of “Moderate Buy” and an average target price of GBX 267 ($3.45).

Legal & General Group Company Profile

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.