Legal & General Executes Significant Share Buyback

Legal & General ( (GB:LGEN) ) has shared an update.

Legal & General Group Plc announced the repurchase of 2,967,390 of its ordinary shares as part of its ongoing share buyback program. This move, facilitated through Barclays Capital Securities Limited, will result in the cancellation of these shares, impacting the total number of shares in issue and voting rights, which now stand at 5,774,991,015. The buyback is part of a strategic initiative to optimize capital structure and potentially 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’s overall stock score is primarily influenced by its financial performance, which is a significant concern due to declining revenues and cash flow issues. However, strong corporate actions such as share buybacks and a high dividend yield provide some positive offset. Technical analysis indicates a moderate bullish trend, adding a positive aspect to the stock’s outlook.

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 stability to its clients, leveraging its extensive market presence.

Average Trading Volume: 25,406,259

Technical Sentiment Signal: Strong Buy

Current Market Cap: £14.6B

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