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Legal & General ( (GB:LGEN) ) just unveiled an announcement.
Legal & General Group Plc announced the repurchase of 1,000,000 of its ordinary shares as part of its ongoing share buyback program. This transaction, executed through Barclays Capital Securities Limited, will result in the cancellation of the repurchased shares, reducing the total number of shares in issue to 5,731,233,254. The buyback is part of the company’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:LGEN) stock is a Hold with a £270.00 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 stock score for Legal & General is 57, driven primarily by its weak financial performance characterized by declining revenues and cash flow challenges. The technical analysis indicates a positive trend, while the valuation suggests overvaluation despite a high dividend yield. Although corporate events like share buybacks are positive, they are not enough to offset the financial weaknesses.
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 services including insurance, investment management, and pensions. The company is focused on delivering financial security and stability to its clients and stakeholders.
Average Trading Volume: 21,590,268
Technical Sentiment Signal: Buy
Current Market Cap: £14.31B
Learn more about LGEN stock on TipRanks’ Stock Analysis page.