Legal & General Group PLC (GB:LGEN)
LSE:LGEN
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Legal & General
(LSE:LGEN)
Select Model
Select Model
Rating:48Neutral
Price Target:
245.00 p
▲(0.82% Upside)
Action:ReiteratedDate:03/17/26
The score is held back mainly by weaker financial quality (margin compression, volatile cash generation, and higher leverage) and bearish technicals (price below key moving averages with negative MACD). A very high dividend yield provides partial support but is offset by a relatively elevated P/E given recent profitability.
Positive Factors
Diversified business model
Legal & General's multi-line model (life insurance, pensions/annuities, asset management, real assets/housing) provides structural diversification of revenue and risk. This reduces single-market dependency, enables cross-selling and stable fee/investment income over the medium term.
Negative Factors
Rising leverage
Material debt growth and declining equity have left the group more highly geared than earlier years. Reduced balance-sheet cushion heightens sensitivity to market shocks, limits capital flexibility for underwriting or housing investments, and raises the cost of funding over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Legal & General's multi-line model (life insurance, pensions/annuities, asset management, real assets/housing) provides structural diversification of revenue and risk. This reduces single-market dependency, enables cross-selling and stable fee/investment income over the medium term.
Read all positive factors
Legal & General (LGEN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£13.65B
Dividend Yield8.29%
Average Volume (3M)19.86M
Price to Earnings (P/E)30.0
Beta (1Y)1.07
Revenue Growth-38.98%
EPS Growth-31.14%
CountryUK
Employees10,799
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.11
Shares Outstanding5,687,553,700
10 Day Avg. Volume26,713,804
30 Day Avg. Volume19,857,462
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)6.55
Price to Sales (P/S)0.27
P/FCF Ratio3.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£270.66Price Target Upside11.38% Upside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)0.24
Revenue Forecast (FY)£14.73B
Legal & General Business Overview & Revenue Model
Company Description
Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates in four segments: Legal & General Retirement (LGR), Legal & General Investment Management (LGIM),...
How the Company Makes Money
Legal & General makes money primarily by earning fees and investment returns across retirement, insurance, and asset management activities. Key revenue streams include: (1) Insurance premiums and related charges from protection and life insurance ...
Legal & General Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
44
Neutral
Cash Flow
32
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 54.54B | 12.96B | 11.07B | 10.19B | 9.29B |
| Gross Profit | 54.54B | 12.59B | 10.72B | 9.90B | 8.99B |
| EBITDA | 1.11B | 704.00M | 423.00M | 1.26B | 2.92B |
| Net Income | 498.00M | 191.00M | 457.00M | 783.00M | 2.05B |
Balance Sheet | |||||
| Total Assets | 582.27B | 544.17B | 522.10B | 506.32B | 575.46B |
| Cash, Cash Equivalents and Short-Term Investments | 17.10B | 18.58B | 22.54B | 36.26B | 16.49B |
| Total Debt | 25.11B | 7.70B | 6.12B | 5.48B | 5.39B |
| Total Liabilities | 579.96B | 540.66B | 517.31B | 494.18B | 564.51B |
| Stockholders Equity | 2.28B | 3.55B | 4.83B | 5.56B | 10.98B |
Cash Flow | |||||
| Free Cash Flow | 4.50B | -4.54B | -14.48B | 20.28B | -374.00M |
| Operating Cash Flow | 4.55B | -4.45B | -14.24B | 20.46B | -169.00M |
| Investing Cash Flow | 170.00M | 239.00M | -422.00M | -226.00M | 133.00M |
| Financing Cash Flow | -2.93B | 331.00M | -556.00M | -1.03B | -1.50B |
Legal & General Technical Analysis
Negative
243.00
Price Trends
260.39
Negative
255.05
Negative
249.70
Negative
Market Momentum
-6.52
Positive
41.42
Neutral
60.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:LGEN, the sentiment is Negative. The current price of 243 is below the 20-day moving average (MA) of 251.13, below the 50-day MA of 260.39, and below the 200-day MA of 249.70, indicating a bearish trend. The MACD of -6.52 indicates Positive momentum. The RSI at 41.42 is Neutral, neither overbought nor oversold. The STOCH value of 60.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:LGEN.
Legal & General Risk Analysis
Legal & General disclosed 8 risk factors in its most recent earnings report. Legal & General reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Legal & General Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £3.42B | 6.07 | 6.50% | 7.21% | -7.11% | 0.45% | |
76 Outperform | £8.90B | 11.95 | 12.35% | 5.37% | 4.78% | -4.86% | |
74 Outperform | £2.37B | 8.36 | -0.05% | 3.40% | -28.04% | -102.43% | |
70 Outperform | £2.12B | 17.89 | 4.75% | 4.91% | 14.05% | -3.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
52 Neutral | £6.66B | 22.80 | 9.49% | 7.09% | 9.86% | -134.41% | |
48 Neutral | £13.65B | 30.04 | 6.81% | 8.29% | -38.98% | -31.14% |
* Financial Sector Average
GB:LGEN
Legal & General
241.50
17.90
8.01%
GB:RAT
Rathbones Group PLC
2,025.00
520.82
34.62%
GB:SDR
Schroders
573.00
229.28
66.70%
GB:ABDN
Aberdeen Group
187.90
39.34
26.48%
GB:QLT
Quilter
174.10
24.65
16.49%
GB:MNG
M&G Plc
276.30
85.19
44.58%
Legal & General Corporate Events
Business Operations and StrategyStock Buyback
Legal & General Cancels 7.2 Million Shares in Latest Buyback Tranche
Positive
Mar 23, 2026
Legal General has repurchased 7.2 million of its ordinary shares between 16 and 20 March 2026 via its broker Barclays Capital Securities, as part of the share buyback programme announced earlier in March. The shares, bought across multiple tradin...
Executive/Board ChangesRegulatory Filings and Compliance
Legal & General details vesting of CEO António Simões’ recruitment share award
Neutral
Mar 20, 2026
Legal General has disclosed the vesting of part of a one-off recruitment share award granted to Group Chief Executive Officer António Simões, compensating him for incentive awards forfeited on leaving his previous employer. The conditio...
Regulatory Filings and Compliance
Legal & General discloses share sales by chief risk officer
Neutral
Mar 18, 2026
Legal General has disclosed that Group Chief Risk Officer Chris Knight, a person discharging managerial responsibilities, sold 100,000 ordinary shares in the group on 17 March 2026 at £2.5141 per share on the London Stock Exchange. The move ...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Legal & General Publishes 2025 Annual Report and Files with UK Regulator
Neutral
Mar 18, 2026
Legal General Group has published its 2025 Annual Report Accounts, following its preliminary results earlier this month, making the full annual financial report available on its website alongside the full-year results announcement. The report ha...
Business Operations and StrategyExecutive/Board Changes
Legal & General refreshes board with governance committee chair change
Positive
Mar 16, 2026
Legal General has announced that Ric Lewis will retire from its Board after six years of service, stepping down as a Non-Executive Director on 18 May 2026. The company also named Scott Wheway as the new Chair of its Nominations and Corporate Gove...
Business Operations and StrategyStock Buyback
Legal & General Cancels Nearly 3 Million Shares in Ongoing Buyback
Positive
Mar 16, 2026
Legal General Group has repurchased 2,992,834 of its ordinary shares between 12 and 13 March 2026 through its broker Barclays Capital Securities, at prices ranging roughly from 240.80p to 249.50p across multiple trading venues. The company will c...
Regulatory Filings and Compliance
Legal & General discloses share sale by Chief Risk Officer
Neutral
Mar 13, 2026
Legal General has disclosed a share transaction by Group Chief Risk Officer Chris Knight, in line with UK Market Abuse Regulation requirements. The filing reports that Knight, classified as a person discharging managerial responsibilities, conduc...
Stock Buyback
Legal & General launches first £600m tranche of £1.2bn share buyback
Positive
Mar 12, 2026
Legal General Group Plc has begun the first tranche of a previously announced £1.2 billion share buyback programme, with this initial phase capped at £600 million and conducted via a non-discretionary agreement with Barclays Capital Sec...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Legal & General boosts 2025 earnings and launches £1.2bn buyback as growth strategy gains traction
Positive
Mar 11, 2026
Legal General reported strong 2025 full-year results, with core operating profit rising 6% to £1.62bn and core EPS up 9%, alongside £1.5bn of Solvency II capital generation and a robust 210% solvency coverage ratio. The group also highl...
Regulatory Filings and Compliance
Legal & General Executives Buy Shares Under Employee Plan
Positive
Mar 3, 2026
Legal General Group has disclosed share purchases by several senior executives and persons discharging managerial responsibilities under its Employee Share Plan. Group Chief Risk Officer Chris Knight, Group General Counsel and Company Secretary G...
Regulatory Filings and Compliance
Legal & General Directors Buy Shares Under Terms of Appointment
Neutral
Mar 2, 2026
Legal General has disclosed share transactions by non-executive directors Mark Jordy, Ric Lewis, and Laura Wade-Gery, in line with UK Market Abuse Regulation requirements. The three PDMRs acquired ordinary shares in the company on 2 March 2026 vi...
Regulatory Filings and Compliance
Legal & General Confirms Total Voting Rights and Share Capital
Neutral
Mar 2, 2026
Legal General Group Plc has confirmed that, as of 27 February 2026, its issued share capital comprises 5,697,730,184 ordinary shares of 2.5p each, all of which carry voting rights. The company holds no shares in treasury, meaning the total number...
Regulatory Filings and Compliance
Legal & General Chair Sir John Kingman Buys Shares in ISA Transaction
Neutral
Mar 2, 2026
Legal General has disclosed a share transaction by its chair, Sir John Kingman, under UK Market Abuse Regulation reporting obligations. Kingman purchased 614 ordinary shares of Legal General at a price of £2.674198 per share via an Individu...
Regulatory Filings and Compliance
Legal & General Executives Increase Holdings Through Employee Share Plan
Neutral
Feb 3, 2026
Legal General Group Plc has disclosed that several senior executives and persons discharging managerial responsibilities, including the Group Chief Risk Officer, Group General Counsel, Group Chief Financial Officer, Group Chief Operating Officer ...
Executive/Board ChangesRegulatory Filings and Compliance
Legal & General Non-Executive Directors Increase Shareholdings Under Appointment Terms
Positive
Feb 2, 2026
Legal General Group Plc has disclosed share purchases by three non-executive directors, Mark Jordy, Ric Lewis and Laura Wade-Gery, who acquired ordinary shares in the company on 2 February 2026 under the terms of their appointments. The transacti...
Regulatory Filings and Compliance
Legal & General Confirms Total Voting Rights and Share Capital Structure
Neutral
Feb 2, 2026
Legal General Group Plc has reported that, as of 30 January 2026, its issued share capital comprises 5,697,679,784 ordinary shares of 2.5 pence each, all of which carry voting rights, and that it holds no shares in treasury. The company confirmed...
Regulatory Filings and Compliance
Legal & General Chair Sir John Kingman Buys Shares in ISA Transaction
Neutral
Feb 2, 2026
Legal General Group Plc has disclosed a transaction by its chair, Sir John Kingman, in line with UK Market Abuse Regulation requirements. Kingman purchased 620 ordinary shares in the company at a price of £2.649576 per share through an Indiv...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Legal & General Sells US Insurance Arm to Meiji Yasuda and Launches £1.2bn Buyback
Positive
Feb 2, 2026
Legal General Group has completed the sale of its US insurance entity, which includes its US protection and US pension risk transfer businesses, to Japan’s Meiji Yasuda Life Insurance for an equity value of $2.3 billion in cash, while simul...
Executive/Board ChangesRegulatory Filings and Compliance
Legal & General Retail CEO Exercises Performance Share Awards and Retains Shares
Neutral
Jan 7, 2026
Legal General has disclosed that Laura Mason, CEO of Retail and a person discharging managerial responsibilities, has exercised nil-cost options granted under the company’s 2014 Performance Share Plan from awards made in 2019 and 2020. On 5...
Business Operations and StrategyRegulatory Filings and Compliance
Legal & General Executives Acquire Shares Under Employee Plan
Neutral
Jan 5, 2026
Legal General Group Plc has disclosed that several senior executives, including the Group Chief Risk Officer, Group General Counsel and Company Secretary, Group Chief Financial Officer, Group Chief Operating Officer, and the CEO of Legal General...
Executive/Board ChangesRegulatory Filings and Compliance
Legal & General Discloses Vesting of CEO António Simões’ Recruitment Share Award
Neutral
Jan 2, 2026
Legal General has confirmed the vesting of part of a one-off recruitment-related share award granted to Group Chief Executive Officer António Simões, compensating him for incentive awards forfeited on leaving his previous employer. Unde...
Regulatory Filings and Compliance
Legal & General Confirms Total Voting Rights at Year-End 2025
Neutral
Jan 2, 2026
Legal General Group Plc has reported that, as at 31 December 2025, its issued share capital comprised 5,697,611,241 ordinary shares of 2.5 pence each, all carrying voting rights, and that it held no shares in treasury, resulting in a total of 5,6...
Regulatory Filings and Compliance
Legal & General Chair Sir John Kingman Buys Shares via ISA
Neutral
Jan 2, 2026
Legal General Group has disclosed that its chair, Sir John Kingman, purchased 628 ordinary shares in the company on 2 January 2026 via an individual savings account (ISA) at a price of £2.6182 per share on the London Stock Exchange. The tran...
Business Operations and StrategyRegulatory Filings and Compliance
Legal & General Non-Executive Directors Increase Shareholdings Under Appointment Terms
Positive
Jan 2, 2026
Legal General has disclosed that non-executive directors Mark Jordy, Ric Lewis and Laura Wade-Gery have purchased ordinary shares in the company on 2 January 2026 under the terms of their appointments, at a price of £2.614 per share, with re...
Business Operations and StrategyDelistings and Listing Changes
Legal & General to Fully Redeem £600m Subordinated Notes and Cancel Listing
Neutral
Jan 2, 2026
Legal General Group Plc will redeem the remaining £12.7 million of its £600 million Fixed Rate Reset Subordinated Notes due 2064 on 2 February 2026 at the special redemption price, including accrued interest, following the earlier repur...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.