Shares of Legal & General Group Plc (LON:LGEN) fell 0.9% on Wednesday after Goldman Sachs Group, Inc. (The) lowered their price target on the stock from GBX 255 to GBX 250. Goldman Sachs Group, Inc. (The) currently has a neutral rating on the stock. Legal & General Group Plc traded as low as GBX 255.90 ($3.30) and last traded at GBX 255.90 ($3.30). 11,502,923 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 13,124,900 shares. The stock had previously closed at GBX 258.20 ($3.33).
A number of other research firms have also weighed in on LGEN. Shore Capital reissued a “buy” rating on shares of Legal & General Group Plc in a research report on Wednesday, August 9th. Barclays PLC reissued an “overweight” rating on shares of Legal & General Group Plc in a research report on Thursday, August 10th. Macquarie raised their target price on shares of Legal & General Group Plc from GBX 201 ($2.60) to GBX 218 ($2.82) and gave the stock an “underperform” rating in a research report on Thursday, August 10th. Societe Generale reaffirmed a “hold” rating and set a GBX 250 ($3.23) target price on shares of Legal & General Group Plc in a research report on Thursday, August 10th. Finally, HSBC Holdings plc reaffirmed a “buy” rating and set a GBX 290 ($3.75) target price on shares of Legal & General Group Plc in a research report on Wednesday, August 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 256.65 ($3.31).
In other news, insider Toby Strauss bought 979 shares of the stock in a transaction on Monday, July 3rd. The stock was bought at an average cost of GBX 257 ($3.32) per share, for a total transaction of £2,516.03 ($3,249.43). Also, insider John Kingman bought 633 shares of the stock in a transaction on Friday, September 1st. The stock was purchased at an average price of GBX 260 ($3.36) per share, with a total value of £1,645.80 ($2,125.53). Over the last 90 days, insiders acquired 2,546 shares of company stock valued at $667,429.
The stock’s market capitalization is GBX 15.18 billion. The firm’s 50 day moving average is GBX 264.98 and its 200 day moving average is GBX 256.68.
The company also recently declared a dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a dividend of GBX 4.30 ($0.06) per share. This represents a yield of 1.58%. The ex-dividend date of this dividend is Thursday, August 17th.
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Legal & General Group Plc Company Profile
Legal & General Group Plc is a holding company. The Company, together with its subsidiaries, transacts life assurance and long-term savings business, investment management and general insurance and health business. It operates through six segments: Legal & General Retirement (LGR), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), Legal & General Insurance (LGI), Savings and General Insurance (GI).
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