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The latest update is out from Legal & General ( (GB:LGEN) ).
Legal & General Group Plc has repurchased 3,954,432 of its ordinary shares as part of its share buyback program, announced earlier this year. This move, facilitated through Barclays Capital Securities Limited, will result in the cancellation of these shares, reducing the total number of shares in circulation and potentially enhancing shareholder value.
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 overall stock score reflects significant financial performance challenges, particularly in revenue stability and cash flow management. While technical analysis shows some positive momentum and corporate events like share buybacks provide optimism, these are not enough to outweigh the high valuation concerns and core financial weaknesses. Investors should be cautious, considering the moderate risk and limited growth prospects unless financial health improves.
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, focusing on providing insurance, investment management, and retirement solutions. The company is known for its comprehensive range of financial products and services, catering to both individual and institutional clients.
Average Trading Volume: 22,602,892
Technical Sentiment Signal: Strong Buy
Current Market Cap: £13.82B
Learn more about LGEN stock on TipRanks’ Stock Analysis page.