Legal & General Group (LON:LGEN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Legal & General Group Plc (LON:LGEN)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 229.01 ($2.97) and traded as high as GBX 250 ($3.24). Legal & General Group shares last traded at GBX 245 ($3.18), with a volume of 15,275,865 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on LGEN. Deutsche Bank Aktiengesellschaft restated 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 ($3.76) to GBX 295 ($3.83) and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 265 ($3.44) target price on shares of Legal & General Group in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 267 ($3.46).

Legal & General Group Price Performance

The stock has a market cap of £14.02 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 2.34 and a beta of 1.31. The company’s 50 day moving average is GBX 237.20 and its 200 day moving average is GBX 229.19. The company has a debt-to-equity ratio of 155.18, a current ratio of 1.50 and a quick ratio of 0.50.

Legal & General Group (LON:LGEN) last posted its quarterly 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%. Research analysts forecast that Legal & General Group Plc will post 24.2376446 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Henrietta Baldock bought 1,016 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of GBX 243 ($3.15) per share, for a total transaction of £2,468.88 ($3,201.76). Also, insider John Kingman purchased 677 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of GBX 243 ($3.15) per share, with a total value of £1,645.11 ($2,133.46). Over the last ninety days, insiders have bought 3,455 shares of company stock worth $822,935. 0.88% of the stock is owned by corporate insiders.

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.