Legal & General Executes Share Buyback to Optimize Capital Structure

Legal & General ( (GB:LGEN) ) just unveiled an announcement.

Legal & General Group Plc announced the repurchase of 1,500,000 of its ordinary shares as part of its 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 5,789,716,051. This move is part of the company’s strategy to manage its capital structure and enhance 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 exhibits a mixed outlook. While the company faces significant financial challenges with declining revenues and cash flow issues, the technical analysis shows positive market momentum. The ongoing share buyback program and high dividend yield provide some support, but the high P/E ratio raises valuation concerns. Overall, the stock’s appeal is moderate, balanced by financial weaknesses and technical strengths.

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, primarily focusing on insurance, investment management, and retirement solutions. The company is a major player in the UK market, offering a range of financial products and services to both individual and institutional clients.

Average Trading Volume: 24,367,885

Technical Sentiment Signal: Strong Buy

Current Market Cap: £13.93B

Find detailed analytics on LGEN stock on TipRanks’ Stock Analysis page.