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LGEN Legal & General Group Plc

-1.80 (-0.78%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Legal & General Group Plc LSE:LGEN London Ordinary Share GB0005603997 ORD 2 1/2P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.80 -0.78% 227.50 10,037,451 16:35:18
Bid Price Offer Price High Price Low Price Open Price
227.50 227.70 230.20 225.60 228.10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Ins Agents,brokers & Service 11.07B 2.29B 0.3833 5.94 13.61B
Last Trade Time Trade Type Trade Size Trade Price Currency
17:54:56 O 19,377 227.50 GBX

Legal & General (LGEN) Latest News (5)

Legal & General (LGEN) Discussions and Chat

Legal & General Forums and Chat

Date Time Title Posts
01/12/202310:18Legal and General12,363
01/12/202309:07LGEN Moderated Thread4,210
01/6/202320:35Legal & General - News & Charts2,843
06/5/202319:29Legal & General (LGEN) announcement18
22/7/202204:43LGEN Moderated Thread6

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Legal & General (LGEN) Most Recent Trades

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Legal & General (LGEN) Top Chat Posts

Top Posts
Posted at 01/12/2023 08:20 by Legal & General Daily Update
Legal & General Group Plc is listed in the Ins Agents,brokers & Service sector of the London Stock Exchange with ticker LGEN. The last closing price for Legal & General was 229.30p.
Legal & General currently has 5,977,813,568 shares in issue. The market capitalisation of Legal & General is £13,605,503,681.
Legal & General has a price to earnings ratio (PE ratio) of 5.94.
This morning LGEN shares opened at 228.10p
Posted at 29/11/2023 13:09 by mcunliffe1
The next div payment is around June - I believe.
The amount of dividend you receive in pounds and pence will be unaffected by any share price movement - in any direction.
What you DO with that dividend payment is what will, in part, determine the true percentage rate.

But, any buy or sell actions on your part before the ex-div date will also affect the amount of dividend payment you receive.

At this moment the yield is about 8.61% based upon a share price of 228p If you invest £1000 now that yield (on that part of your holding) is locked-in at 8.61% providing the company does not materially change the dividend payment amount. They probably will, slightly upwards. Let's say they pay 20p in total next year rather than the 19.64p of this year. The yield would be 8.77% on that £1000 invested today.

Suppose the share price is indeed 300p by the next div. payment date and remains that through to the second div. payment in Sept 2024. You'll still get the 8.77% on that £1000 and the amount of yield on your other holding will have been determined by the cost you paid for that other holding.

The yield you obtain is simply a division of the dividend amount in pence, times 100 then divided by the share price at the time you bought the holding.

Can I suggest you DO want the share price to go up to £3.00 having bought today at £2.28

Or, do you want it to go down? That adversely affects any existing holding that you presumably bought at a higher price than £2.28.

Yield is an ephemeral beasty.
Posted at 04/11/2023 13:29 by kipper999
Legal & General's shares slide but dividend yield remains attractive

Legal & General (LSE:LGEN) has experienced a significant decrease in its share price over the past two years, with an 8.9% drop in the past year and a total decline of 26% over the past two years. Despite this downturn, the company's dividend yield has risen to 8.8%, which is highly sought after by investors. This comes as the company maintains a robust dividend health, demonstrated by a consistent payment history and a strong dividend coverage ratio of 1.98 times in 2022.

In a challenging macroeconomic environment, Legal & General reported an H1 operating profit of £941m, slightly below the previous year but still in line with its five-year financial objectives. The company, which does not participate in buybacks, primarily rewards its shareholders with dividends.

The firm aims to generate between £8bn and £9bn in capital by 2024, with £5.9bn already secured. Legal & General's Solvency II coverage ratio, a key indicator of financial strength, increased year-on-year from 212% to 230%.

As a leader in the Bulk Purchase Annuities (BPA) market, Legal & General handled transactions worth £7.2bn in 2022. The BPA market has grown from £10bn in 2016 to over £50bn in 2022, and Legal & General was the top BPA provider in the UK for 2022.

Despite leadership changes following Sir Nigel Wilson's retirement and a lower share price than five years ago, Legal & General remains steadfast. The company generated a net surplus exceeding dividends by £600m and deferred new business profits worth another £600m.

Although investor views may differ on Legal & General's performance, The Motley Fool UK suggests that there's no catch to the high dividend yield. Furthermore, only 15% of the UK's defined benefit programs have been transferred to insurance providers like Legal & General, indicating potential growth for the company in the future.
InvestingPro Insights

InvestingPro data and tips offer valuable insights on Legal & General's performance and outlook. The company's market cap stands at a substantial 16308.05M USD. Its P/E ratio is at 6.53, indicating a relatively low valuation compared to earnings. The company's dividend yield is impressive at 8.82%, reflecting its commitment to rewarding shareholders despite the challenging market conditions.

Two InvestingPro Tips that stand out are that Legal & General has raised its dividend for 14 consecutive years and pays a significant dividend to shareholders. These tips align with the company's strategy of primarily rewarding its shareholders with dividends, as noted in the article.

InvestingPro provides a wealth of additional tips for Legal & General and other companies, providing valuable insights for investors. It's worth noting that despite some financial challenges, Legal & General has managed to maintain a robust dividend health, which is a key factor for dividend-focused investors.
Posted at 27/10/2023 12:20 by adejuk
an old friend was wearing a t shirt with
i don't use google, my wife knows everything.
i am going to ask her for the lgen share price for next summer!
i'm told it's called boomer humour.
Posted at 24/10/2023 16:52 by anhar
All a load of macro talk which says nothing useful imo about LGEN specifically.

I can say for certain that there will be a serious market fall at some stage and similarly there will be a market boom at some stage. That's because such events are inevitable so there's no prizes for such predictioins. I've lived through several of them over decades of investing.

My answer is not to try and time them because that's too risky to get wrong. I just stay invested throughout and ignore talk about forthcoming periods of recession/boom/stasis. But then I'm just an income investor who pays little heed to share prices. I doubt anything going seriously wrong with LGEN but of course there are no guarantees with shares.
Posted at 24/10/2023 02:36 by garycook
If I could buy just one FTSE 100 dividend share for life, I’d choose this
I’m free to buy as many dividend shares as I like, but what if I was only allowed to buy one? For the rest of my life. This is what I’d do. The FTSE 100 is packed full of dividend shares that I’d love to buy today. But what if there was a limit on such transactions? That would be a huge blow, because I love buying income stocks. My portfolio is full of them.

Let’s say it’s happened and we were rationed to just one. I thought this would be a difficult choice, but in fact it turned out to be pretty easy.

My number-one favourite dividend stock in the whole wide world is insurer and asset manager Legal & General Group (LSE: LGEN), which I hold and would really hate to sell. The obvious attraction is that it offers an ultra-high income, that only gets higher every time the FTSE 100 dips (which it’s doing quite a lot at the moment). My number one
The current yield is a thumping 9.3%, nicely covered twice by earnings. Better still, it looks set to be a rising income. The yield is forecast to hit 9.77% in 2023 and a whopping 10.3% in 2024.

Supersized dividend yields like this one can be vulnerable. I can’t rule out the possibility that profits or cash flows could falter and management will cut it to save cash. Yet I’m as confident as I can be that the L&G dividend will not only hold steady, but grow.

In its first-half results, published on 15 August, the board highlighted in bold an impressive “£947m capital generation with significant dividend headroom”. That’s fighting talk, if you ask me. Management put its money where its mouth is by hiking the interim dividend by 5% to 5.71p. It’s planning 5% increases to both the full-year 2023 and 2024 shareholder payouts.

L&G’s first-half operating profit fell slightly from £958m to £941m, as volatile stock markets took their toll. However, with a Solvency II coverage ratio (a measure of solvency) of 230%, and £9.2bn surplus, the board can afford to keep investors happy. Taking my time
I bought L&G’s shares on two occasions over the summer, because I thought they looked too cheap to ignore. For a while I was up but following recent stock market volatility, I’m now in the red. The stock is down 18.06% over six months and 9.44% over the year. I did say I was buying for dividends, didn’t I?

These short-term losses don’t worry me. Since I hope to hold the stock for years, if not decades, it has plenty of time to bounce back. In fact, it makes me want to buy more shares at today’s lower price. L&G is dirt-cheap, trading at just 5.43 times earnings. That’s a bargain price for a potential double-digit yield, if you ask me. I’m not expecting the L&G share price to recover at speed. Certainly not until we can be sure that interest rates have peaked. Investors are now getting generous yields from cash or bonds, without taking a punt on equities. The Israel-Hamas conflict is on everybody’s minds with no easy solution.

Yet when markets finally get their mojo back, L&G’s asset management business means it could recover at speed. In the meantime, I’ll keep reinvesting my dividends (while trying not to think about all the dividend shares I’m no longer allowed to buy).
Posted at 23/10/2023 14:01 by mcunliffe1
Isn't it all about your entry point?

My average share price is 227.182p it is not 207.9p I'm down about 9%. I've had £925 dividend payment since 6th April 2023 when I bought my first tranche of LGEN. This is held in my SIPP and if I became a forced seller there's a serious need and any loss would become irrelevant in such circumstances.

However, had I managed to get the 11005 shares I bought (not counting the two divi re-investments)at the current price of 208p It would have saved me £2011. Alternatively, I could have obtained about 12,000 shares for the same outlay I have made. Not a massive difference really because had I bought the whole lot today I would have missed out on 404 shares from the divi re-inv. and the £1188 cash divi today.

To be fair, that £25k outlay in blocks, since April 2023 could have earned me 5% for 6 months - about £625.

I'll look again at this in, say, 3 years when the share price has risen above what it stands at now.
Posted at 22/10/2023 06:22 by florenceorbis
If I had any doubts about that, a quick glance at wealth manager M&G’s red hot 10.14% yield would stiffen my resolve. I’m usually wary of double-digit yields but this one does look sustainable. M&G’s share price should recover when markets spring back into life, as they always do in the end.

The same could apply to FTSE 100 insurers Phoenix Group Holdings and Legal & General Group, which yield a dizzying 11.4% and 9.3% respectively. Try getting that rate of income from a bond.

Capital is at risk when buying stocks. Phoenix and L&G are down 17.42% and 9.4% over 12 months. However, I see that as a buying opportunity rather than a threat, as they’re now dirt cheap, trading at 5.5 and 5.4 times earning respectively.

Naturally, it would be safer to stick my money in the bank. It’s still possible to get savings interest of 6% a year, provided I’m willing to lock my money away for 12 months. That’s tempting but the downside is that after a year, the interest will stop. By then, best buy deals are likely to be well below 6%.
Good time to buy

That isn’t an issue if I buy UK dividend stocks. I can access my money at any time, although in practice I’d have zero intention of doing that. I’d aim to hold every stock for a minimum 10 years, to allow my dividends time to compound, and their share prices plenty of opportunity to recover. Money held on deposit gives me a yield but no capital growth. Shares should do both.

The opposite is true of gold. Its price may rise but the yellow metal will never pay me a penny in income. The higher dividend yields go, the greater the opportunity cost of buying and holding gold instead.

In fairness to gold, the price is up 19.37% over the last year. Some exposure is always worth having, but no more than 5% of my portfolio. I’m investing the majority in FTSE 100 income shares. With Rio Tinto, Imperial Brands, Barratt Developments, British American Tobacco and Taylor Wimpey all yielding more than 8%, now looks like a brilliant time to consider buying them.
Posted at 19/10/2023 19:57 by marktime1231
There is no need to cut the dividend! It is well covered now after being a close shave in the last decade. Nigel's plan to stabilise things has worked, he has been celebrating the generation of surplus capital in order to accumulate own funds ... increasing solvency, providing own money for investment and to stimulate others to invest.

Remember how grateful we were that LGEN kept up paying valuable dividends when others took fright or were leaned on during covid. That was pretty strong evidence LGEN know how important everyone regards the certainty and sustainability of a progressive dividend. There is zero chance it will be tampered with.

What may change under new leadership is how surplus cash is spent. Antonio is said to share the ethos of social capitalism, eg putting money to work for the good of the nation and communities etc, whatever happened to the govt idea to release reserves for infrastructure etc. But he may come under corporate pressure to do something about the share price. So while there is new business worth investing in like pension risk transfers, to offset the struggling asset management business, schemes which involve long term investment before we get the benefit may not get so much support as immediate measures to repair shareholder value. Yes, for example, a share buyback programme.

For example, as I understand it even after paying the handsome dividends LGEN generated something like £1.5B surplus capital last year and is on course to generate another £2B this year. That is in stark contrast to the mkt cap slumping to around £12.5B as the share price has dropped by a third or £1 off its peak in that two year period. Almost everyone else with a surplus has responded to wide discounting with a stock reduction. LGEN may respond too.
Posted at 19/10/2023 18:22 by fatherjack3
Very much doubt the dividend will be cut, the share price is already bombed out. Macro factors plus the Brexit discount is weighing heavily on this stock. Still, for income investors, a bombed out share price for a virtually bomb proof share is as good as it gets.
Posted at 16/9/2023 10:49 by marktime1231
Despite everyone hailing LGEN as a buy here we still sit about 55p below the consensus target price of 285p.

What has to happen?

If the share price does not correct itself as a result of turning the macro-economic corner then we will hear calls for a buyback or some sort of strategic review. Wilson has been all about generating own capital to invest in growth and stimulate new business ventures often with a societal benefit in mind. Simoes is said to have a similar mindset. Good in many ways, LGEN has been a steady trustworthy place to invest, ignoring the chatter about venturing in to China a couple of years ago.

Ripe for something very positive to happen here in the next 12 months, whether on its own or with a push from an activist. Or not! 9% you can retire on. Keep going LGEN.
Legal & General share price data is direct from the London Stock Exchange

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