Legal & General’s (LGEN) “Hold” Rating Reaffirmed at Deutsche Bank

Deutsche Bank restated their hold rating on shares of Legal & General (LON:LGEN) in a research note released on Friday morning. Deutsche Bank currently has a GBX 305 ($4.09) price objective on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on LGEN. Barclays decreased their price target on shares of Legal & General from GBX 294 ($3.94) to GBX 290 ($3.89) and set an overweight rating for the company in a report on Thursday, February 1st. Goldman Sachs Group reaffirmed a sell rating and issued a GBX 210 ($2.82) price target on shares of Legal & General in a report on Tuesday, February 20th. Citigroup reiterated a buy rating and issued a GBX 306 ($4.11) price objective on shares of Legal & General in a research note on Monday, February 26th. Numis Securities upgraded shares of Legal & General to an add rating and increased their price objective for the stock from GBX 125 ($1.68) to GBX 305 ($4.09) in a research note on Thursday, March 8th. Finally, JPMorgan Chase & Co. reiterated an underweight rating and issued a GBX 218 ($2.92) price objective on shares of Legal & General in a research note on Thursday, March 8th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Legal & General has an average rating of Hold and an average price target of GBX 277.93 ($3.73).

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LON LGEN opened at GBX 277.60 ($3.72) on Friday. Legal & General has a 12-month low of GBX 241.65 ($3.24) and a 12-month high of GBX 279.90 ($3.76).

The company also recently declared a dividend, which will be paid on Thursday, June 7th. Investors of record on Thursday, April 26th will be given a dividend of GBX 11.05 ($0.15) per share. This represents a yield of 4.21%. The ex-dividend date of this dividend is Thursday, April 26th. This is a positive change from Legal & General’s previous dividend of $4.30.

In related news, insider Carolyn Bradley bought 674 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were acquired at an average price of GBX 256 ($3.43) per share, for a total transaction of 拢1,725.44 ($2,315.09). Also, insider Nigel Wilson sold 228,989 shares of Legal & General stock in a transaction dated Saturday, April 14th. The shares were sold at an average price of GBX 271 ($3.64), for a total transaction of 拢620,560.19 ($832,631.41). In the last 90 days, insiders have purchased 2,706 shares of company stock worth $718,978.

Legal & General Company Profile

Legal & General Group Plc provides various insurance products and services worldwide. It operates in Legal & General Retirement (LGR), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), and General Insurance (GI) segments. The LGR segment offers annuity contracts with guaranteed income for a specified time; longevity insurance products for company pension schemes; and lifetime mortgages.

Analyst Recommendations for Legal & General (LON:LGEN)

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