Legal & General Cancels 24.3 Million Shares in Ongoing Buyback

The latest update is out from Legal & General ( (GB:LGEN) ).

Legal & General has repurchased 24,290,384 of its ordinary shares between 11 and 15 May 2026 as part of the share buyback programme launched in March. The shares, bought via Barclays Capital Securities on multiple trading venues at prices generally in the mid-240p to mid-260p range, will be cancelled.

Following the cancellation of these shares, Legal & General’s total shares in issue will fall to 5,573,178,063, all of which carry voting rights. The move reduces the company’s share count and may enhance earnings per share, signalling continued capital returns to shareholders and reinforcing management’s confidence in the group’s financial position.

The most recent analyst rating on (GB:LGEN) stock is a Buy with a £3.40 price target. To see the full list of analyst forecasts on Legal & General stock, see the GB:LGEN Stock Forecast page.

Spark’s Take on LGEN Stock

According to Spark, TipRanks’ AI Analyst, LGEN is a Neutral.

The score is held back mainly by weaker financial quality (margin compression, volatile cash generation, and higher leverage) and bearish technicals (price below key moving averages with negative MACD). A very high dividend yield provides partial support but is offset by a relatively elevated P/E given recent profitability.

To see Spark’s full report on LGEN stock, click here.

More about Legal & General

Legal & General Group Plc is a UK-based financial services company focused on insurance, pensions, asset management and retirement solutions. The group primarily serves retail and institutional clients, offering savings, protection and investment products across domestic and international markets.

Average Trading Volume: 32,511,389

Technical Sentiment Signal: Strong Buy

Current Market Cap: £14.64B

Learn more about LGEN stock on TipRanks’ Stock Analysis page.