Legal & General (LGEN) Reaches New 52-Week High at $281.80

Legal & General (LON:LGEN)’s share price reached a new 52-week high on Thursday . The company traded as high as GBX 281.80 ($3.82) and last traded at GBX 280 ($3.80), with a volume of 14429504 shares traded. The stock had previously closed at GBX 279.20 ($3.79).

LGEN has been the topic of a number of research reports. HSBC increased their price objective on shares of Legal & General from GBX 303 ($4.11) to GBX 320 ($4.34) and gave the company a “buy” rating in a research note on Monday, March 19th. Citigroup reissued a “buy” rating and issued a GBX 306 ($4.15) price objective on shares of Legal & General in a research note on Wednesday, April 25th. Royal Bank of Canada reissued an “outperform” rating on shares of Legal & General in a research note on Wednesday, January 17th. Goldman Sachs reissued a “sell” rating and issued a GBX 210 ($2.85) price objective on shares of Legal & General in a research note on Tuesday, February 20th. Finally, Barclays reissued an “overweight” rating on shares of Legal & General in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of GBX 269.94 ($3.66).

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

In other Legal & General news, insider Nigel Wilson sold 228,989 shares of the firm’s stock in a transaction dated Saturday, April 14th. The shares were sold at an average price of GBX 271 ($3.68), for a total transaction of £620,560.19 ($841,779.96). Also, insider Carolyn Bradley purchased 674 shares of the firm’s stock in a transaction on Wednesday, April 4th. The shares were purchased at an average cost of GBX 256 ($3.47) per share, for a total transaction of £1,725.44 ($2,340.53). Insiders have acquired a total of 2,706 shares of company stock worth $718,978 over the last ninety days.

About Legal & General

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.

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