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The latest announcement is out from Legal & General ( (GB:LGEN) ).
Legal & General Group Plc announced the repurchase of 1,500,000 of its ordinary shares as part of its ongoing share buyback program. This move, executed through Barclays Capital Securities Limited, will result in the cancellation of the repurchased shares, reducing the total number of shares in issue to 5,764,182,718. The buyback is part of a strategy to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:LGEN) stock is a Buy with a £3.20 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 GB:LGEN Stock
According to Spark, TipRanks’ AI Analyst, GB:LGEN is a Neutral.
The overall score is primarily influenced by financial weaknesses, including declining revenues and liquidity issues. However, positive technical indicators and strategic corporate actions like share buybacks offer some support, while a high dividend yield provides an attractive proposition for dividend-seeking investors.
To see Spark’s full report on GB:LGEN stock, click here.
More about Legal & General
Legal & General Group Plc operates in the financial services industry, primarily focusing on insurance, investment management, and retirement solutions. The company is known for its comprehensive range of financial products and services, catering to a diverse market that includes individual consumers and institutional clients.
Average Trading Volume: 24,908,284
Technical Sentiment Signal: Strong Buy
Current Market Cap: £14.4B
See more insights into LGEN stock on TipRanks’ Stock Analysis page.