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Legal & General ( (GB:LGEN) ) has provided an announcement.
Legal & General Group Plc announced the repurchase of 2.5 million of its ordinary shares as part of its 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 the value of remaining shares and reinforcing the company’s commitment to returning capital to shareholders.
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 is driven primarily by its financial performance challenges, including declining revenues and profitability, as well as cash flow issues. However, positive technical indicators and a strong corporate event strategy, particularly the share buyback program, provide a balanced outlook. The high P/E ratio suggests overvaluation, but the attractive dividend yield offers compensation for income-focused investors. The absence of recent earnings call data limits insights into current management sentiment and guidance.
To see Spark’s full report on GB:LGEN stock, click here.
More about Legal & General
Legal & General Group Plc is a prominent player in the financial services industry, primarily offering insurance, investment management, and retirement solutions. The company focuses on providing financial security and investment opportunities to a diverse range of clients, including individuals, businesses, and institutions.
Average Trading Volume: 24,911,320
Technical Sentiment Signal: Buy
Current Market Cap: £14.49B
Find detailed analytics on LGEN stock on TipRanks’ Stock Analysis page.