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.

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SBSI, LGGNY and GNTY made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 20, 2024.

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FTSE 100 insurance firm Legal & General Group PLC (LSE:LGEN) is said to be mulling the sale of its housebuilding subsidiary Cala Group. According to a Sky News report, Cala Group, which comprises Cala Homes and sister company Legal & General Homes, could fetch £750 million for L&G.

L&G reportedly mulling sale of Cala housebuilding subsidiary

JP Morgan has upgraded its price target for Legal & General Group PLC (LSE:LGEN) to 330p from 305p, reflecting its positive assessment of the insurer's future performance. It has done so ahead of a capital markets event, set to unveil new CEO António Simões' strategy and to spotlight a simplified business approach, growth opportunities, and key financial metrics and targets, including L&G's new capital management policy.

Legal & General share price upgraded as investment bank becomes more bullish on buyback

Legal & General Group Plc (OTCPK:LGGNY) Q4 2023 Earnings Conference Call March 6, 2024 5:00 AM ET Company Participants Antonio Simoes - Chief Executive Officer Jeff Davies - Chief Financial Officer Michelle Scrimgeour - Chief Executive Officer, Legal & General Investment Management Andrew Kail - Chief Executive Officer, Legal & General Institutional Retirement Bernie Hickman - Chief Executive Officer, Legal & General Retail Laura Mason - Chief Executive Officer, Legal & General Capital Conference Call Participants Dominic O'Mahony - BNP Paribas Exane Abid Hussain - Panmure Gordon Mandeep Jagpal - RBC Capital Markets Andrew Crean - Autonomous Farooq Hanif - JPMorgan Andy Sinclair - Bank of America Larissa Van Deventer - Barclays Rhea Shah - Deutsche Bank Andrew Baker - Citi Nasib Ahmed - UBS Thomas Bateman - Berenberg William Hawkins - KBW Antonio Simoes Good morning and welcome to our 2023 Results Presentation. It's a pleasure to be here as the Chief Executive of Legal & General.

Legal & General Group Plc (LGGNY) Q4 2023 Earnings Call Transcript

Legal & General is an attractive investment with a high yield and sustainable and growing dividends. Its main business is pension risk transfers with the record-beating transaction volume. The risk of a dwindling supply of PRT deals appears overblown.

Legal & General: 8.5% Yield With Growing And Sustainable Dividend

Insurance firm Legal & General Group PLC (LSE:LGEN)'s annual results narrowly missed the mark, according to analysts at Jefferies. L&G's financial results for fiscal year 2023 unveiled an operating profit of £1,67 billion, which fell short of the consensus estimate by approximately 5%.

L&G results missed the mark, reckons Jefferies

Legal & General was the biggest faller on the FTSE 100 after it posted full-year operating results below consensus, but said it was on track to meet its midterm goals.

Legal & General Falls on Profit Miss

Insurance big cap Legal & General Group PLC (LSE:LGEN) increased pension-based operating profits by 10% in 2023 to generate £886 million in a year that saw record appetite for de-risking among legacy pension providers. Some £50 billion in PRTs was transacted in the UK, with L&G leading on some of the landmark deals, including the British Steel Pension Scheme and Boots Pension Scheme transfers.

L&G delivers bumper retirement profits, hits dividend target

SATO Corporation Press release 28 February 2024 at 12:50 pm    SATO Corporation has signed a EUR 150 million secured loan facility with LGIM. The facility has a tenor of 12 years and has sustainability linked features which provides a margin reduction to SATO upon achieving certain sustainability performance measures.

SATO Corporation has signed a EUR 150 million 12 year secured sustainability linked term loan facility with Legal & General Investment Management's dedicated UK and European Real Estate Debt division

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Legal & General has seen a 25% increase in value since October, but its current valuation may be an overreaction and it may be time to consider rotating investments. KION has experienced a significant surge in pricing, with a 32% increase since November, and its potential for growth justifies holding onto the investment.

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Legal & General stock has done okay since prior coverage in May, slightly outperforming broader European financials amid a good run for equities in general. There are good reasons to remain bullish ahead of full-year results, with the macro environment looking supportive of earnings and credit risk appearing to moderate. The valuation remains attractive, too, with a 7.7% dividend yield not reflecting sound medium-term growth potential.

Legal & General: 3 Reasons I Remain Bullish Ahead Of 2023 Results

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Trisura, Progressive, Cigna, UnitedHealth, Fidelity National, American Financial Group, Legal & General, and F&G Annuities & Life are highlighted as promising insurance picks with unique qualities.

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Even though Legal & General Group PLC (LSE:LGEN) shares rose over 10% in the final few weeks of last year, Deutsche Bank said “we believe there is plenty more to go”. The bank upped its share price target to 295p to 305p, having upgraded its rating on the life insurer to a 'buy' in late November.

Legal & General shares have 'long way to go' as new CEO refreshes returns strategy - analyst

STAMFORD, Conn.--(BUSINESS WIRE)--Legal & General Retirement America (LGRA), a leading provider of pension risk solutions in the United States, announced today that it has reached the milestone of $10 billion in total written premium and over 100 deals since its 2015 inception, with roughly $5 billion secured in just the past three years. Year-to-date, LGRA has completed $1.7 billion in transactions securing the retirement for over 27,000 annuitants. LGRA's new business volume was primarily.

Legal & General Retirement America (LGRA) has Closed $10 Billion Since Inception

Legal & General has updated its pay policy to say it would back huge US-style bonuses being offered to asset managers this side of the Atlantic in a bid to attract talent. As first reported by the Sunday Times, the pension and insurance giant updated guidelines over the weekend to acknowledge “necessary flexibility” in attracting talent.

Legal & General backs huge US-style bonuses for London asset managers

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Enterprise Products is considered a golden standard for high-yield stocks, but British Legal & General may be a better choice for many. Both companies offer a high yield, secure distribution coverage, strong balance sheets, and probable dividend growth of 5% in 2024. LGEN's yield and stock appreciation potential are higher but the tax-deferred status of EPD distributions makes it preferable for high-bracket US taxpayers.

Enterprise Products Vs. Legal & General - Which Of The 2 Superior Yield Stocks To Choose

Against a background of record bulk pensions transfer deals, analysts at Barclays see Legal & General Group PLC (LSE:LGEN) as well positioned to continue growing and potentially increase share buybacks.  The FTSE 100 life insurer in the past fortnight announced record sales in the US of US$160 million and the biggest bulk annuity deal in its history.

Legal & General tipped for growth by Barclays as pension risk transfer deals boom

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Aviva PLC (LSE:AV.) lost out, while Legal & General Group PLC (LSE:LGEN) was seen as a 'top pick' as Deutsche Bank published a sector wide review of the European insurance sector.

Aviva cut but Legal & General favoured in Deutsche insurance review

Legal & General Group PLC (LSE:LGEN) is not expected to see much share price movement from purchasing Boots' pension scheme despite it being the largest transaction in the insurer's history. Analysts at UBS believe the new business strain caused by the high volumes of the £4.8 billion deal will be offset by lower solvency ratios.

Legal & General shares to steady following Boots pension deal – broker

Legal & General Group PLC (LSE:LGEN) has signed a £4.8 billion buy-in of the 53,000-member Boots Pension Scheme, making it the UK's largest-ever transaction of its kind by premium size. Baker McKenzie advised on the deal, which will see the Boots Pension Scheme's longevity and investment risk transferred to L&G.

L&G takes over Boots Pension Scheme in largest derisking deal to date

Legal & General insurance on FTSE offers a stable 8.8% dividend, with management commitment to grow the dividend at 5% p.a. The stock has been under pressure - down c. 10% in the last year, but should now be finding a floor. Management has demonstrated the resilience of the business, in a very challenging operating environment, and delivered on its targets.

Legal & General: Buy This Growing 8.8% Yielder To Gain From 3 Macro Trends

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Legal & General is a UK-based insurance company that has historically shown volatility but has outperformed broader markets. The company has undergone significant changes and adjustments, focusing on investment management and insurance coverage in the UK, USA, Japan, China, and India. Despite expectations of poor results, Legal & General has shown resilience with operational profit on par with previous years, improved solvency ratio, and a dividend increase.

Legal & General: One Of The Safer 8.5%+ Yields At This Time

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Companies including Legal & General Group PLC (LSE:LGEN), HSBC Holdings PLC (LSE:HSBA) and Prudential PLC (LSE:PRU) have been identified as backing Chinese traditional medicines (TCM) companies, which use body parts from endangered animals such as leopards and pangolin. The Environmental Investigation Agency (EIA) cited 62 banks and financial institutions, including Goldman Sachs and BlackRock, which it said are investing in three pharmaceutical groups making products reported to contain leopard or pangolin parts.

News for Legal & General Group PLC Stock (LGGNY)