Legal & General Share Discussion Threads

[deadly] 22/3/2021 16:43

Big drop these last few days after breaking highs and good results recently. Seems a bargain again with XD soon.

[skinny] 12/3/2021 15:28

12+ month high @293.50p

[unastubbs] 12/3/2021 13:14

same, ta vm wc104

[spcecks] 12/3/2021 12:13

Williamcopper104 Thanks for posting the article on Lgen.

[chiefbrody] 12/3/2021 12:00

Needs an afternoon fall as i'll be adding Monday lol.

[actybod] 12/3/2021 11:50

Wants to hit 300 now - wonder how many have been caught by the rise. I have been but in a pleasant way. Holding for divi.

[williamcooper104] 12/3/2021 10:16

It does - divi yield of 4.75 to 5.5 range looks about where we should (should of course doesn't mean will) get to

[panshanger1] 12/3/2021 10:09

Market looks like it's re- rating this share now

[williamcooper104] 12/3/2021 09:17

That's Questor in the Telegraph

[williamcooper104] 12/3/2021 09:17

For those schemes slowly winding down, trustees increasingly use the kind of de-risking strategies LGIM provides. Others schemes attempt to offload legacy pensions altogether, either through a buy-in or buyout of benefits. In exchange for a chunky premium, insurance companies meet the cost of providing these inflation-linked pensions until the last member dies. L&G is one of the market leaders, both in Britain and globally, and despite schemes having closed decades ago in many cases, there is still plenty of business to be had. Operating profits rose 10pc to £1.2bn, a majority of L&G's overall profits.The consumer facing retirement business also saw near double-digit growth in 2020. While its bread and butter annuities will never again sell in the volumes prior to the 2015 "pension freedom" reforms, the take-up of lifetime mortgages should offset this over time as more people unlock the enormous unrealised capital growth in British property values.Despite the clear underlying strength of the business, it remains Questor's view that L&G is chronically undervalued. A dividend yield of more than 6pc suggests the market is worried about the sustainability of payouts but there are no obvious reasons why shareholders will not continue to receive their income.As with most British firms, the market wrote down L&G significantly after the Brexit vote and again when the scale of the pandemic became evident in March last year. Neither event should have been a reason to sell out of a strong, diversified company. For income investors there is a lot to like. We can only hope the firm doesn't find itself starved of competition from other income stocks.Questor says: holdTicker: LGEN

[williamcooper104] 12/3/2021 09:17

For income investors the best advice for the past 12 months has been "turn away now". The Bank of England effectively barred banks from paying shareholders, while firms in other sectors followed the herd.Legal & General, a long-term member of Questor's Income Portfolio, was one of the few exceptions. It went ahead with its planned dividend in June 2020, meaning the annual dividend totalled 17.57p, flat on 2019 but up by just over 30pc on five years ago.Yet the pensions and investment giant has not escaped the pandemic unscathed. Pre-tax profits fell in 2020 by 15pc to £1.8bn, the annual report published this week revealed. Of this, the company estimated the pandemic wiped off £228m of profits.Of its five divisions, the main casualties were L&G Capital, the group's investment vehicle, and the insurance business. Capital, which invests principally in new-build homes, start-ups and other "alternative" assets, suffered from the housing market freeze in the first lockdown.Meanwhile L&G Insurance saw profits tumble by 40pc, reflecting the abnormally high number of deaths caused by Covid, particularly in its American business where it is more exposed. An extra £110m has been set aside to cover increased claims in 2021.Both those setbacks are likely to be one-offs and in any case have been largely offset by strong performance in the other three business areas.Questor agrees with management, which believes the group is well placed to capitalise on the ageing demographics of, in particular, Europe and America. Despite the pandemic, populations are on the whole living longer and so there is a corresponding need for retirement income for longer periods. • Sign up to our Business Briefing newsletter for a snapshot of the day's biggest business stories • Read Questor's rules of investment before you follow our tipsThrough LGIM, the investment management arm, there is exposure to the vast sums now being poured into defined contribution pensions since the launch of near compulsory workplace pensions in 2012. L&G not only offers a "mastertrust" to replace the thousands of individual company policies that were the bedrock of the old system of paternalistic employers, but provides the underlying investments.Like others it is racing to gain a foothold in ESG strategies as younger investors take a more keen interest in what happens to their money. Older style defined-benefit plans may be all but extinct in the private sector but the legacy of decades of benefit entitlement means there is trillions of pounds of liabilities still held by corporates.

[tornado12] 11/3/2021 12:41

I have also a very big stake in LGEN with focus on the Dividend returns. Their strategy and deliverables have been excellent in last 5 years even with the COVID disruption. The return is still very good at todays price and for me for income source it remains one of the stella opportunities in FTSE100. I dont see many others close to this also considering the medium term divi coverage. It was also extremely encouraging to see their AUMs increasing again last year. I am a firm long termer and will continue to invest while their future prospects for growth continue to be positive

[panshanger1] 11/3/2021 12:05

Encouraging to see this moving up ( post results ) on a bad day for financials

[mo123] 11/3/2021 09:46

Consensus:

BANK OF AMERICA RAISES LEGAL & GENERAL PRICE TARGET TO 315 (308) PENCE - 'BUY'

BERENBERG RAISES LEGAL & GENERAL PRICE TARGET TO 315 (263) PENCE - 'HOLD'

CITIGROUP RAISES LEGAL & GENERAL TARGET TO 281 (269) PENCE - 'NEUTRAL'

BARCLAYS RAISES LEGAL & GENERAL PRICE TARGET TO 351 (339) PENCE - 'OVERWEIGHT'

JEFFERIES RAISES LEGAL & GENERAL TARGET TO 290 (270) PENCE - 'HOLD'

Institutions beginning to realise that if the shares are bought and held for 13 months, it gives a yield of over 10% going into a recovery.

[venezuela45] 11/3/2021 08:09

Good set of results and strong dividend. I took a nice chunk of these at 180p and holding for the long term.

[geardown107] 10/3/2021 19:17

All financials are down, so not a bad day all in all.

[chiefbrody] 10/3/2021 10:54

Muted share price reaction. No surprises. 6%+ Div. Prob in the top 10 of the 100.One to sleep fairly easy with.

[bennodean] 10/3/2021 10:45

===========================
unastubbs10 Mar '21 - 09:35 - 7475 of 7481
0 1 0
Nigel Wilson = best ftse 100 CEO at this time. man of genuine vision and principle. very glad to be invested here.
===========================

Hi Nigel, nice disclosure on the front bottom as well.

Now get back to driving up EPS.

[williamcooper104] 10/3/2021 10:05

With these results and PHNX you can see why Apollo are buying Athene 17 percent ROE during meltdown pandemic year

[mo123] 10/3/2021 10:02

Don't be tight lipped about it una.

Final 12.64p
Ex-Div 15-Apr-21
Paid 27-May-21