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Legal & General ( (GB:LGEN) ) just unveiled an update.
Legal & General Group Plc announced the repurchase of 2,997,142 ordinary shares as part of its ongoing share buyback program. This move, executed through Barclays Capital Securities Limited, aims to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share and strengthening the company’s market position.
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.
Legal & General’s stock score is primarily impacted by its weak financial performance, with significant challenges in revenue and liquidity. However, technical indicators suggest neutral momentum, and corporate actions like share buybacks and insider purchases offer some positive signals. The high P/E ratio indicates potential overvaluation, adding to the financial risks.
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 offering insurance, investment management, and retirement solutions. The company focuses on providing long-term financial security and stability for its clients, leveraging its expertise in risk management and asset allocation.
Average Trading Volume: 21,922,004
Technical Sentiment Signal: Strong Buy
Current Market Cap: £14.18B
For detailed information about LGEN stock, go to TipRanks’ Stock Analysis page.