Legal & General Group Plc (OTCMKTS:LGGNY) Sees Large Increase in Short Interest

Legal & General Group Plc (OTCMKTS:LGGNY – Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 15,300 shares, an increase of 750.0% from the May 15th total of 1,800 shares. Based on an average daily volume of 152,000 shares, the days-to-cover ratio is currently 0.1 days.

LGGNY has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Legal & General Group from GBX 380 ($4.76) to GBX 350 ($4.39) in a report on Friday, March 18th. Zacks Investment Research raised Legal & General Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Morgan Stanley reduced their target price on Legal & General Group from GBX 330 ($4.14) to GBX 329 ($4.12) in a report on Tuesday, April 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Legal & General Group from GBX 320 ($4.01) to GBX 330 ($4.14) in a report on Monday, March 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $257.75.

Legal & General Group stock traded down $0.17 during midday trading on Friday, reaching $16.12. 84,240 shares of the company were exchanged, compared to its average volume of 70,383. Legal & General Group has a 1 year low of $14.40 and a 1 year high of $21.50. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $18.37.


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The firm also recently declared a dividend, which was paid on Wednesday, June 8th. Investors of record on Friday, April 22nd were given a dividend of $0.8223 per share. This represents a yield of 6.34%. The ex-dividend date was Thursday, April 21st.

About Legal & General Group (Get Rating)

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), Legal & General Capital (LGC), and Legal & General Insurance (LGI).

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