HSBC Trims Legal & General (LGEN) Target Price to GBX 315

Legal & General (LON:LGEN) had its target price reduced by HSBC from GBX 320 ($4.58) to GBX 315 ($4.51) in a report issued on Tuesday. The firm presently has a “buy” rating on the financial services provider’s stock. HSBC’s price objective suggests a potential upside of 16.84% from the company’s previous close.

LGEN has been the topic of a number of other reports. JPMorgan Chase restated an “underweight” rating and issued a GBX 218 ($3.12) price target on shares of Legal & General in a research note on Thursday, March 8th. Citigroup restated a “buy” rating and issued a GBX 306 ($4.38) price target on shares of Legal & General in a research note on Monday, February 26th. BNP Paribas reiterated an “outperform” rating and set a GBX 295 ($4.22) target price on shares of Legal & General in a research report on Wednesday, March 28th. Deutsche Bank reiterated a “hold” rating on shares of Legal & General in a research report on Wednesday, March 28th. Finally, Barclays cut their target price on shares of Legal & General from GBX 294 ($4.21) to GBX 290 ($4.15) and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of GBX 268.59 ($3.85).

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LGEN opened at GBX 269.60 ($3.86) on Tuesday. Legal & General has a 1-year low of GBX 241.65 ($3.46) and a 1-year high of GBX 279.90 ($4.01).

In other news, insider John Kingman purchased 627 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were purchased at an average price of GBX 262 ($3.75) per share, for a total transaction of £1,642.74 ($2,352.15). Also, insider Toby Strauss purchased 927 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of GBX 271 ($3.88) per share, for a total transaction of £2,512.17 ($3,597.04). Insiders bought a total of 2,228 shares of company stock worth $588,035 in the last 90 days.

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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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