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Legal & General ( (GB:LGEN) ) has shared an update.
Legal & General Group Plc has executed a share buyback, purchasing 3,966,119 of its ordinary shares, which will be cancelled. This move is part of a previously announced buyback program, and it reduces the total number of shares in circulation, potentially enhancing shareholder value by increasing earnings per share.
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 reflects significant financial challenges, including declining revenues and liquidity concerns. However, technical analysis indicates a moderately bullish trend, while share buybacks and a high dividend yield provide some positive aspects. The high P/E ratio suggests caution due to potential overvaluation.
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, providing a range of products including insurance, investment management, and retirement solutions. The company focuses on offering these services primarily in the UK market.
Average Trading Volume: 21,655,318
Technical Sentiment Signal: Strong Buy
Current Market Cap: £14.46B
For an in-depth examination of LGEN stock, go to TipRanks’ Overview page.