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The latest update is out from Legal & General ( (GB:LGEN) ).
Legal & General Group Plc announced the repurchase of 2,447,886 of its ordinary shares as part of its ongoing share buyback program. This move, which involves the cancellation of the repurchased shares, aims to reduce the total number of shares in circulation, potentially enhancing shareholder value and reflecting confidence in the company’s financial position.
The most recent analyst rating on (GB:LGEN) stock is a Hold with a £2.43 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 is primarily driven by positive corporate events, particularly the extensive share buyback program, which suggests management confidence in financial stability. However, this is offset by the company’s weak financial performance, characterized by declining revenues and liquidity concerns. The technical indicators are moderately positive, providing some support, while the valuation is mixed with a high P/E ratio but an attractive dividend yield.
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, offering a range of products including life insurance, pensions, and investment management services. The company primarily focuses on the UK market but also has operations in the US and other international markets.
Average Trading Volume: 20,790,092
Technical Sentiment Signal: Buy
Current Market Cap: £14.4B
Find detailed analytics on LGEN stock on TipRanks’ Stock Analysis page.