Legal & General Group PLC

Legal & General Group Plc engages in the provision of risk, savings, and investment management products and services. It operates through the following segments: Legal and General Retirement Institutional (LGRI); Legal and General Capital (LGC); Legal and General Investment Management (LGIM); Retail Retirement; and Insurance. The LGRI segment is involved in pension risk transfer business including longevity insurance. The LGC segment includes shareholder assets invested in direct investments primarily in the areas of specialist commercial real estate, clean energy, housing, and SME finance, as well as traded and treasury assets. The LGIM segment offers institutional and retail investment management. The Retail Retirement segment provides retail annuity and drawdown products, workplace savings, and lifetime mortgage loans. The Insurance segment focuses on the United Kingdom protection and Fintech business, as well as the United States retail protection business. The company was founded on September 19, 1836 and is headquartered in London, the United Kingdom.

Unilever

Unilever has the desire and ability to pay a progressive dividend through good times and bad, as the last 20 years include a global banking meltdown and a pandemic. Headlam's management recently suspended the dividend for two years to fund an operational improvement programme, and that means it will soon break my rule around suspended dividends. If L&G was fundamentally robust and if management was truly committed to a progressive dividend, then the dividend should have been fully reinstated within a few years, and that's exactly what happened.

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Legal & General offers a compelling safe dividend yield of ~9.5%, tax qualified for US investors. The Asset Management segment holds critical upside potential for the entire company, making it a key area of focus for future growth. LGEN has already made several important steps to improve the Asset Management segment by focusing on private assets.

Legal & General: Capturing Upside While Pocketing 9.5% Dividend

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Legal & General Group's dividend yields 9%, but stagnant share price requires careful consideration for investment. Management targets 6-9% EPS growth and over 20% ROE, with a focus on cost efficiency and asset management consolidation. The dividend policy has been revised to a 2% growth plus share buybacks, which is still attractive.

Legal & General Group Plc Mid-Year Review

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L&G's H1 results show stable core operating performance, with EBIT of £849 million and solid ROE, which confirms L&G's medium-term outlook. L&G plans to optimize expenses and capitalize on institutional retirement opportunities. Valuation suggests L&G is undervalued compared to sector peers. The supportive capital allocation also offers downside protection.

Legal & General: Our Upside Is Still Here, Buy Confirmed

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Legal & General Group PLC (LSE:LGEN) has had a lower price target repeated by analysts at Deutsche Bank, seemingly for those who might have missed it the first time. Deutsche first cut is target to 275p from 300p on 18Th June, due to a reduction in total EPS forecasts by 6% across 2024-2026.

Legal & General target reduction reiterated by Deutsche Bank

After much anticipation, L&G's Capital Markets Day was a bit of a damp squib and ended up tempering expectations, according to Deutsche Bank. “However, despite 6% cuts to our EPS forecasts and an 8% reduction in our target price, we retain our ‘Buy', said the German bank.

Legal & General target cut by Deutsche Bank after low-key markets day

Legal & General Group presented a revamped strategy under new CEO Antonio Simoes in June 2024. The company announced reduced dividend growth from 5% to 2% starting in 2025, causing disappointment among income investors. Legal & General plans to focus on enhancing capital returns through a combination of dividends and buybacks. The expected total return is about 13-16% including a 9.4% forward yield.

Legal & General: Negative Response To New Strategy Makes It More Attractive With 9.4% Yield

L&G plans to dis-invest in non-strategic assets, unify asset management divisions, and capitalize on the institutional retirement opportunity. We positively view the company's capital allocation priorities, supported by buybacks and a progressive dividend policy. Valuation remains undemanding, and we have confirmed our buy rating status.

Legal & General: Double Down After The CMD

Share-price dropped 6% on the new CEO Investor Day. The news overall is positive for investors, with 6-9% profit CAGR. Shareholder returns tweaked from dividend growth to dividend growth plus buybacks.

Legal & General: Price Drop On New CEO Strategy. What To Do?

Patron Capital Partners is one of the bidders for Legal & General's housebuilder CALA, in a deal expected to raise around one billion pounds ($1.28 billion), a source familiar with the matter said on Wednesday.

Patron Capital among bidders for Legal & General housebuilder CALA-source

Legal & General Group PLC's (LSE:LGEN) overhaul plans underwhelmed some in the City who expected new CEO António Simões to take a more aggressive approach with his revamp of the insurer. Simões, who joined the company in January from Santander, wants to sell the housebuilder Cala, merge divisions, and initiate a £200 million share buyback, aiming for a "simpler, better-connected L&G".

Legal & General down 5% as new CEO's reset underwhelms

Legal & General (LON: LGEN) share price was the worst-performer in the FTSE 100 index on Wednesday after the new Chief Executive unveiled his vision for the company. It dipped by over 3% and reached a low of 235p, its lowest swing since May 3rd.

Legal & General (LGEN) share price has plunged: what next?

Legal & General Group PLC (LSE:LGEN)'s shares fell by 3% in early trading as new CEO António Simões' overhaul of the insurer met with a lukewarm response. Simões, who joined the company in January from Santander, outlined plans to sell the housebuilder Cala, merge divisions, and initiate a £200 million share buyback, aiming for a "simpler, better-connected L&G".

Legal & General CEO's overhaul plans meet with lukewarm response; shares down 3%

Warnings that a sharp decline in interest rates will lead to a potential fall in UK bulk annuity volumes are overdone, suggests UBS, which expects Legal & General to be a major beneficiary of the continuing trend. UK bulk annuity volumes hit historic levels in 2023 at £49.1bn according to actuarial consultancy LCP.

Legal & General will continue to lead bulk annuity gains, says UBS

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M&G PLC - Legal & General, M&G and Avia in the spotlight as Deutsche eyes growth for UK life Legal & General Group PLC (LSE:LGEN) and M&G PLC (LSE:MNG) are rated as ‘buys' amongst the UK's life insurance market, as analysts at Deutsche Bank highlighted its expectations for growth. The German bank meanwhile rates Aviva PLC (LSE:AV.) and Phoenix Group Holdings PLC (LSE:PHNX) as ‘hold'.

Legal & General, M&G and Aviva in the spotlight as Deutsche eyes growth for UK life

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Legal & General's new chief executive Antonio Simoes is likely to emphasise the insurer's retail and asset management arms at a scheduled Capital Markets Day on 12 June, predict analysts at UBS.  “We expect management organically to reduce dependence on L&G's capital-intensive pension risk transfer (PRT) business by emphasising the company's retail (particularly wealth) and asset management (particularly private assets) capabilities.

Legal & General retail arm central to future plans, UBS suggests

Legal and General reported resilient FY 2023 results in a difficult operating environment, and raised its dividend by 5%. New business sales were at record levels, with tailwinds to drive further growth. The new CEO, Antonio Simoes, hinted at potential strategy changes during the earnings call.

Legal & General Group: 2023 On Track, New CEO Keeps His Cards Close, Rating Maintained

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COLORADO SPRINGS, Colo.--(BUSINESS WIRE)-- #digitalsales--Legal & General America in tandem with Hexure launches life e-tickets to deliver a simplified quote to apply experience.

Legal & General America Launches Life e-Tickets with Hexure for a Simplified, Accelerated Quote to Apply Experience

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British insurer and asset manager Legal & General has shelved a plan to obtain a China business license and more than halved onshore headcount, two sources said, joining a list of global financial firms scaling back in an uncertain market.

News for Legal & General Group PLC Stock (LGGNY)