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LGEN, RSA, sell the news. 5% of the country forecast to be under water by end of week (LGEN)
tobyboy - 26 Jun 2007 11:49
if you 'buy the rumor and sell the news, is all this rain a rumor?
these two shares are stuck between interims maybe worth a quick .10p short?
more rain forecast, or don't they pay out claims anymore?
these two shares are stuck between interims maybe worth a quick .10p short?
more rain forecast, or don't they pay out claims anymore?
tobyboy - 26 Jun 2007 11:57 - 2 of 204
The UK's Met Office continues to predict a 'high probability' that average summer temperatures in the UK will be above the 1971-2000 average but that rain will remain a feature of the weather in July and August.
This may, it said, be partly a consequence of the expected development of moderate or strong La Nina conditions in the tropical Pacific Ocean.
http://www.metoffice.gov.uk/weather/seasonal/summer2007/index.html
This may, it said, be partly a consequence of the expected development of moderate or strong La Nina conditions in the tropical Pacific Ocean.
http://www.metoffice.gov.uk/weather/seasonal/summer2007/index.html
tobyboy - 29 Jun 2007 09:21 - 3 of 204
and they said i was mad when i was building my ark
tobyboy - 21 Jul 2007 10:26 - 4 of 204
these companies never pay out anything but dividends.
bhunt1910
- 23 Jul 2007 09:36
- 5 of 204
Interims on thursday - expect good news - despite the rain
tobyboy - 23 Jul 2007 20:53 - 6 of 204
bhunt as in 'berkeley hunt' cockney rhyming slang?
your post is crap. its a non post. a useless generality.
interims for who? see below for a proper job on research that might represent a decent attempt at producing a worthwhile comment on my thread.
ive squelched you.
LGEN interim link
http://investor.legalandgeneral.com/calendar.cfm
RSA interim link
http://www.royalsunalliance.com/royalsun/media/showpressitem.jsp?type=press&ref=409&link=4⊂=16
Royal & SunAlliance notice of interim results 2007
16.07.2007
Royal & SunAlliance announces that its 2007 interim results will be released on Wednesday 8 August 2007 at 7.00am. A briefing to investors and analysts will take place at 10.30am and will be accessible via the company website (www.royalsunalliance.com).
your post is crap. its a non post. a useless generality.
interims for who? see below for a proper job on research that might represent a decent attempt at producing a worthwhile comment on my thread.
ive squelched you.
LGEN interim link
http://investor.legalandgeneral.com/calendar.cfm
RSA interim link
http://www.royalsunalliance.com/royalsun/media/showpressitem.jsp?type=press&ref=409&link=4⊂=16
Royal & SunAlliance notice of interim results 2007
16.07.2007
Royal & SunAlliance announces that its 2007 interim results will be released on Wednesday 8 August 2007 at 7.00am. A briefing to investors and analysts will take place at 10.30am and will be accessible via the company website (www.royalsunalliance.com).
tabasco - 03 Sep 2008 08:09 - 7 of 204
Bridget McIntyre is stepping down as UK CEO and will be succeeded by Adrian Brown, who is currently RSA UK chief operating officer.
McIntyre has been with the group for almost 3 years and is leaving to spend more time with her family in Suffolk, the group said.
Seeing as she doesnt have any children.I would say that was the boot! just a guess?
McIntyre has been with the group for almost 3 years and is leaving to spend more time with her family in Suffolk, the group said.
Seeing as she doesnt have any children.I would say that was the boot! just a guess?
Dil
- 24 Oct 2008 11:21
- 8 of 204
Do these face problems similar to banks ?
mitzy - 26 Oct 2008 15:15 - 9 of 204
I am thinking the insurers are next in line for a govt bail-out especially as they are charging a 22% exit fee to deter policy holders from selling..if 59p support gives it could go 30/40p.
cynic
- 26 Oct 2008 17:27
- 10 of 204
you can probably take your pick of many insurers as a good shorting target, assuming that is permitted ..... SL. could make an interesting choice, partly on the basis that its sp has fallen much less than many
mitzy - 26 Oct 2008 19:15 - 11 of 204
I would agree that insurers have further to fall maybe another 50/60%.
mitzy - 28 Oct 2008 09:35 - 12 of 204
Excellent results from Ariva today.
Stan
- 28 Oct 2008 09:41
- 13 of 204
..and not forgetting Aviva either )-:
mitzy - 28 Oct 2008 09:46 - 14 of 204
Yes Aviva (what a stupid name)..!
mitzy - 28 Oct 2008 15:07 - 15 of 204
Jesus H Corbett its in freefall despite the decent Aviva figures.
mitzy - 13 Feb 2009 15:20 - 16 of 204
Taken a hit because of the Lloyds/HBOS news.
HARRYCAT
- 13 Feb 2009 18:12
- 17 of 204
Maybe something to do with the pension management at LGEN.
The graph is a bit of a nightmare, but at some point (which I can't predict) it must be worth considering for a bounce.
The graph is a bit of a nightmare, but at some point (which I can't predict) it must be worth considering for a bounce.
mitzy - 13 Feb 2009 18:16 - 18 of 204
I agree Harry its in big trouble the pension side must be in complete disaray.
halifax - 13 Feb 2009 18:20 - 19 of 204
mitzy you mean this legitimate "ponzi" scheme hasn't enough money coming in to pay their pension payment liabilities?
mitzy - 13 Feb 2009 18:27 - 20 of 204
Well now you mention it halifax it certainly looks that way.
maggiebt4
- 13 Feb 2009 18:42
- 21 of 204
Talk that Legal & General will soon hit the rights-issue trail refuses to go away. The shares were among the biggest fallers in the FTSE 100, losing 5.2p at 49.5p. City speculators say there is no smoke without fire......"This is Money"
mitzy - 16 Feb 2009 08:36 - 22 of 204
This is going down faster than Lloyds.
mitzy - 16 Feb 2009 08:44 - 23 of 204
Incredible down 25% in 45 mins looks like I will get my 30p sooner than I had thought.
HARRYCAT
- 16 Feb 2009 09:00
- 24 of 204
From what I have read over the weekend, I gather that this drop is due to the ongoing discussions with the FSA over the amount of money LGEN needs to put to one side as provision for defaults in it's bond portfolio. There seem to be worries over LGEN reserves, which are going to have to increase by up to 2bn if the FSA have their way.
Preliminary results out in march, so will watch this one for a while rather than dip in now.
Preliminary results out in march, so will watch this one for a while rather than dip in now.
mitzy - 16 Feb 2009 18:18 - 25 of 204
Its all hyperthetical Harry and undermining LGEN's financial position no doubt the FSA know best.
http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=475909&in_page_id=23&ct=5
http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=475909&in_page_id=23&ct=5
bhunt1910
- 17 Feb 2009 08:49
- 26 of 204
Not a problem
mitzy - 18 Feb 2009 09:57 - 27 of 204
Down 10% and down 60% since September I'm sorry for all the lt holders out there its being shorted by Crispen and friends.
blackdown - 18 Feb 2009 10:06 - 28 of 204
Sensible thing is to stay put if you are a holder.
mitzy - 18 Feb 2009 10:22 - 29 of 204
bhunt1910
- 18 Feb 2009 14:06
- 30 of 204
This might just recover today !!
maggiebt4
- 18 Feb 2009 14:42
- 31 of 204
It's trying hard, fingers and everything else crossed!
mitzy - 18 Feb 2009 16:27 - 32 of 204
Its no good trying its determined to fall sub 40p despite peoples thoughts.
mitzy - 19 Feb 2009 09:36 - 33 of 204
Still it continues.
mitzy - 19 Feb 2009 11:17 - 34 of 204
Its a sad day when LGEN goes bankrupt...my target is 16p.
2517GEORGE
- 19 Feb 2009 11:28
- 35 of 204
That's a contradiction in itself mitzy.
2517
2517
mitzy - 19 Feb 2009 11:33 - 36 of 204
I thought the same George but at 16p they would be technically bankrupt.
maggiebt4
- 19 Feb 2009 11:34
- 37 of 204
What do you base that on Mitzy?
maggiebt4
- 19 Feb 2009 11:35
- 38 of 204
That's the 16p not the bankrupt
blackdown - 19 Feb 2009 12:05 - 39 of 204
Massive shorting going on.
mitzy - 19 Feb 2009 12:07 - 40 of 204
Say suppose the market falls another 60% in the year the share price would be 16p.
maggiebt4
- 19 Feb 2009 12:11
- 41 of 204
Thanks M So you don't think it's happening tomorrow?
skinny
- 19 Feb 2009 12:21
- 42 of 204
Depends on your definition of market.
2517GEORGE
- 19 Feb 2009 12:24
- 43 of 204
As I see it the problem for insurers stem from when they were forced (by the gov.) to sell equities and invest more in gilts and corporate bonds, some of the bonds are now in danger of not being paid.
2517
2517
mitzy - 19 Feb 2009 15:15 - 44 of 204
Been a sell since early February when it was trading at 60p is it worth buying at 36p I am not convinced yet.
mitzy - 20 Feb 2009 14:36 - 45 of 204
FTSE down 130 points when will it ever end..?
2517GEORGE
- 20 Feb 2009 14:43
- 46 of 204
Who knows ? This may be the approach to the final sell off, but then again----
2517
2517
mitzy - 20 Feb 2009 18:17 - 47 of 204
Sub 35p who would have believed a week ago ..?
blackdown - 20 Feb 2009 18:19 - 48 of 204
Could L&G become a bid target at these levels?
mitzy - 21 Feb 2009 19:18 - 49 of 204
When it falls to 16p it could well become a target.
mitzy - 22 Feb 2009 21:25 - 50 of 204
I have a loverly view of Africa from my outside.
mitzy - 23 Feb 2009 08:52 - 51 of 204
Up 10%.
mitzy - 23 Feb 2009 16:05 - 52 of 204
The DOW has another 20% to fall before a recovery so LGEN will react accordingly.
Edit: make that 30%.
Edit: make that 30%.
mitzy - 24 Feb 2009 08:14 - 53 of 204
Dow down 250 last night and the FTSE falling too .
mitzy - 24 Feb 2009 11:07 - 54 of 204
Bad day again and the chart is like a Cresta Run..sell.
maestro - 24 Feb 2009 16:10 - 55 of 204
placed a 500 per point short at 35p...spoke to a lansdowne guy...reckons 10p in a couple of weeks
blackdown - 24 Feb 2009 16:34 - 56 of 204
Time to buy then
HARRYCAT
- 24 Feb 2009 16:39
- 57 of 204
Tight stop I hope Maestro? You don't want that dreaded margin call! The 'experts' seem to be getting a lot wrong recently.
mitzy - 05 Mar 2009 14:45 - 58 of 204
Another bad day today for all holders.
mitzy - 05 Mar 2009 18:19 - 59 of 204
15/16p in next couple of days imo.
halifax - 05 Mar 2009 18:40 - 60 of 204
mitzy why? other than shorters taking advantage of the total absence of buyers,sooner or later the underlying value will be recognised,you can't keep shorting for ever because nothing will be left to short the sp ceases to have any relevance to the actual worth of the company which will of course be recognised in due course.
mitzy - 05 Mar 2009 19:05 - 61 of 204
Well its 26p tonight so its just academic now another 10p could be tomorrow or next week bringing it to 16p the Dow is 20% overvalued has 1000 points to fall and the FTSE I dont know maybe 3200..?
maestro - 05 Mar 2009 19:55 - 62 of 204
great...made a packet on this dog...suckerrrrrrrrrrrrrrrrs!
mitzy - 05 Mar 2009 20:30 - 63 of 204
Your right for once maestro do you know the Loot numbers for Friday..?
mitzy - 05 Mar 2009 20:30 - 64 of 204
Loto numbers.
moneyman - 06 Mar 2009 11:11 - 65 of 204
Slaughtered again
mitzy - 06 Mar 2009 11:39 - 66 of 204
Going to get to 20p one of these days.
mitzy - 06 Mar 2009 13:32 - 67 of 204
Complete and total destruction of wealth when will it ever end..?
2517GEORGE
- 06 Mar 2009 14:29
- 68 of 204
The next problem apparently will be whose got (institutions) what exposure to Private Equity.
2517
2517
mitzy - 06 Mar 2009 18:47 - 69 of 204
Big problems ahead I downgraded today after hearing the FTSE is bottoming at 2200 in 2009 that makes L&G worth about 5/6p... incredible.
halifax - 06 Mar 2009 18:51 - 70 of 204
mitzy which planet do you come from?.............. could it be pluto?
mitzy - 06 Mar 2009 18:55 - 71 of 204
write this one down... 5p... and come back in 3 months time and apologise.
halifax - 06 Mar 2009 18:58 - 72 of 204
and what will you do if they aren't?
mitzy - 06 Mar 2009 19:01 - 73 of 204
Do you know me..?
blackdown - 07 Mar 2009 12:14 - 74 of 204
Can't say I do.
mitzy - 07 Mar 2009 14:12 - 75 of 204
lol..
mitzy - 09 Mar 2009 17:52 - 76 of 204
lol...
mitzy - 10 Mar 2009 09:02 - 77 of 204
Up 10% so far.
bhunt1910
- 10 Mar 2009 20:59
- 78 of 204
Up 20% - more to come tomorrow me thinks when the shorters start to retrench
5p - I dont think so
5p - I dont think so
maggiebt4
- 10 Mar 2009 22:01
- 79 of 204
Good to hear a positive view for a change :-)
HARRYCAT
- 30 Sep 2009 09:37
- 80 of 204
LONDON (ShareCast) -" Rumours that serial insurance company raider Clive Cowdery is preparing a takeover bid for Legal & General(L&G) through his investment vehicle Resolution has lifted the sector higher. L&G leads the way, with sector peer Aviva not far behind."
HARRYCAT
- 30 Sep 2009 09:39
- 81 of 204
"Legal & General upgraded to hold from sell at Deutsche, target price 82p"
Business Financial Newswire
Now 87p
Business Financial Newswire
Now 87p
goldfinger
- 01 Oct 2009 14:24
- 82 of 204
Legal & General takeover whispers
Daily Mail
30 September 2009, 9:25am
Legal & General
jumped 3.75p, or nearly 5%, to 82.75p as takeover speculation intensified.
Persistent buying swelled turnover in the pensions and insurance giant to more than 55m shares as dealers heard that a 7bn, or 120p a share cash bid from an international insurer is imminent.
Suggestions over the weekend that L&G was preparing a defence document against an approach from
Resolution
put the market on takeover alert.
But experts say it is far too early for Resolution to be considering a deal. L&G declined to comment.
L'G declined to comment!!!!!!!!!!!!!!.
Daily Mail
30 September 2009, 9:25am
Legal & General
jumped 3.75p, or nearly 5%, to 82.75p as takeover speculation intensified.
Persistent buying swelled turnover in the pensions and insurance giant to more than 55m shares as dealers heard that a 7bn, or 120p a share cash bid from an international insurer is imminent.
Suggestions over the weekend that L&G was preparing a defence document against an approach from
Resolution
put the market on takeover alert.
But experts say it is far too early for Resolution to be considering a deal. L&G declined to comment.
L'G declined to comment!!!!!!!!!!!!!!.
goldfinger
- 02 Oct 2009 14:53
- 83 of 204
Another hefty 98 million shares were traded in
Legal & General
, yet still the silence was deafening. On the boil all week and up 17% over the last four pulsating days amid intense takeover rumours, the stock touched 94.4p before closing 0.15p better at 87.9p.
Professional punters remain super confident that a 7bn-plus or 125p cash bid for the pensions and insurance giant could be tabled soon.
Legal & General
, yet still the silence was deafening. On the boil all week and up 17% over the last four pulsating days amid intense takeover rumours, the stock touched 94.4p before closing 0.15p better at 87.9p.
Professional punters remain super confident that a 7bn-plus or 125p cash bid for the pensions and insurance giant could be tabled soon.
goldfinger
- 02 Oct 2009 14:54
- 84 of 204
Professional punters remain super confident that a 7bn-plus or 125p cash bid for the pensions and insurance giant could be tabled soon!!!!!!!!!!!!!!!!!!!!!!.
HARRYCAT
- 02 Oct 2009 15:07
- 85 of 204
From this morning's FT chat:
"This is from Dow Jones
The NAB spokesman said that acquisition opportunities would be considered only where they are incremental or bolt-on in nature, strategically aligned, continue to keep the bank safe and improve the scale or distribution capability of our existing franchises.
All of which fits L&Gs description in precisely zero ways"
I think I agree that some kind of bid is going to materialise, hence I hold stock, but I am not that confident.
"This is from Dow Jones
The NAB spokesman said that acquisition opportunities would be considered only where they are incremental or bolt-on in nature, strategically aligned, continue to keep the bank safe and improve the scale or distribution capability of our existing franchises.
All of which fits L&Gs description in precisely zero ways"
I think I agree that some kind of bid is going to materialise, hence I hold stock, but I am not that confident.
gibby - 02 Oct 2009 15:42 - 86 of 204
i hold lgen stock also - ii will wait a bid will be forthcoming probably before xmas 09
goldfinger
- 03 Oct 2009 01:56
- 87 of 204
Fingers crossed.
HARRYCAT
- 08 Oct 2009 17:19
- 89 of 204
I saw today on the FT chat page that LGEN had rejected a 110p offer from australian insurer AMP, but am not able to verify that with a RNS. Can anyone else shed any light on that?
goldfinger
- 15 Oct 2009 11:29
- 90 of 204
BROKER CALL: Has penny dropped with Legal & General
15 October, 2009 07:21:15 AM
Bank of America Merrill Lynch goes to buy from neutral and the price target goes to 105p a share from 79p. Broker says: 'The penny has dropped' with respect to cash at the company, in our view, and we think significant improvements in the cash flow profile of the business will be seen in the coming years.'
15 October, 2009 07:21:15 AM
Bank of America Merrill Lynch goes to buy from neutral and the price target goes to 105p a share from 79p. Broker says: 'The penny has dropped' with respect to cash at the company, in our view, and we think significant improvements in the cash flow profile of the business will be seen in the coming years.'
goldfinger
- 16 Oct 2009 08:57
- 91 of 204
Fuller note.....
Upgrading to Buy; PO 105p
As part of a wider industry note on cash flow, we are upgrading our opinion on
L&G from Neutral to Buy, setting a 12-month PO of 105p.
Including the conclusions drawn from todays industry piece, there are four
specific reasons for our change of stance. These are bulleted below and set out
in more detail overleaf and of course in the sector piece itself.
L&G screens well on our cash flow analysis. The penny has dropped with
respect to cash at the company, in our view, and we think significant
improvements in the cash flow profile of the business will be seen in the coming
years. Our cash-based DCF is supportive of our new PO.
We think the worst fears over the possible impact of solvency II will not be
realised, although this remains a key risk to our Buy rating.
We think the shares are inexpensive at 8.8x 2011E IFRS EPS, 0.85x embedded
value and a 2010E FCF yield of 9.2%.
Finally, L&G will, at the very least, be aware of the possible interests of
consolidators in the UK life market. This, we believe, will focus the minds of
management and possibly accelerate shareholder value creation.
Upgrading to Buy; PO 105p
As part of a wider industry note on cash flow, we are upgrading our opinion on
L&G from Neutral to Buy, setting a 12-month PO of 105p.
Including the conclusions drawn from todays industry piece, there are four
specific reasons for our change of stance. These are bulleted below and set out
in more detail overleaf and of course in the sector piece itself.
L&G screens well on our cash flow analysis. The penny has dropped with
respect to cash at the company, in our view, and we think significant
improvements in the cash flow profile of the business will be seen in the coming
years. Our cash-based DCF is supportive of our new PO.
We think the worst fears over the possible impact of solvency II will not be
realised, although this remains a key risk to our Buy rating.
We think the shares are inexpensive at 8.8x 2011E IFRS EPS, 0.85x embedded
value and a 2010E FCF yield of 9.2%.
Finally, L&G will, at the very least, be aware of the possible interests of
consolidators in the UK life market. This, we believe, will focus the minds of
management and possibly accelerate shareholder value creation.
goldfinger
- 16 Oct 2009 09:09
- 92 of 204
Nomura....
New Price target: 115.00p
Nomura says the three insurers are the most attractive stocks in the European insurance space and lifts its target price for the firms while maintaining a "buy" recommendation.
"We have upgraded our price targets for Aviva, Legal & General and Prudential to reflect increases in net asset values following strong market performance in the past three months," Nomura analysts write in a note.
New Price target: 115.00p
Nomura says the three insurers are the most attractive stocks in the European insurance space and lifts its target price for the firms while maintaining a "buy" recommendation.
"We have upgraded our price targets for Aviva, Legal & General and Prudential to reflect increases in net asset values following strong market performance in the past three months," Nomura analysts write in a note.
goldfinger
- 16 Oct 2009 10:48
- 93 of 204
Posted by Pro TAer Zak Mir.......
Zak Mir
Reged: 28/06/07
Posts: 1070
Re: Legal And General (lgen)
#454901 - 15/10/09 03:14 PM Edit Reply Quote
The only penny that has dropped here is the one regarding the way that a rising stock market drags insurers's shares higher. The technical target on LGEN is 120p early in the New Year.
Zak Mir
Reged: 28/06/07
Posts: 1070
Re: Legal And General (lgen)
#454901 - 15/10/09 03:14 PM Edit Reply Quote
The only penny that has dropped here is the one regarding the way that a rising stock market drags insurers's shares higher. The technical target on LGEN is 120p early in the New Year.
chakli - 19 Oct 2009 13:48 - 94 of 204
cfo buys at 88p
HARRYCAT
- 03 Nov 2009 12:05
- 95 of 204
Business Financial Newswire
"Insurer Legal & General said today it achieved its 2009 net cash target three months early.
461m net cash was generated in 9 months to end-September, ahead of the 450m net cash generation target for the full-year.
The group reported its 50m annualised cost reduction target for 2009 was achieved within 9 months.
Worldwide new business was down 7% to 1.058bn (2008: 1.137bn).
Investment management saw gross new funds of 24.3bn, while LGIM assets under management was 311bn, with net inflows of 12.2bn so far.
UK Risk new business APE was down 23% to 293m and non-profit annuity assets under management was 21bn, with net inflows of 0.7bn.
UK Savings new business APE was up 1% to 673m and savings assets under administration was 52bn, with net inflows of 1.4bn.
International new business was up 2% to 92m.
L&G had an estimated IGD surplus 2.5bn (coverage ratio 196%) at end-September. "
"Insurer Legal & General said today it achieved its 2009 net cash target three months early.
461m net cash was generated in 9 months to end-September, ahead of the 450m net cash generation target for the full-year.
The group reported its 50m annualised cost reduction target for 2009 was achieved within 9 months.
Worldwide new business was down 7% to 1.058bn (2008: 1.137bn).
Investment management saw gross new funds of 24.3bn, while LGIM assets under management was 311bn, with net inflows of 12.2bn so far.
UK Risk new business APE was down 23% to 293m and non-profit annuity assets under management was 21bn, with net inflows of 0.7bn.
UK Savings new business APE was up 1% to 673m and savings assets under administration was 52bn, with net inflows of 1.4bn.
International new business was up 2% to 92m.
L&G had an estimated IGD surplus 2.5bn (coverage ratio 196%) at end-September. "
skinny
- 23 Mar 2010 07:46
- 96 of 204
Final Results.
Legal & General delivers 1.1bn IFRS operating profit, Generates 699m net cash and increases final dividend by 33%
IFRS operating profit up 87% at 1,109m (2008: 592m)
Final dividend up by 33% to 2.73p per share
Net cash up 118% at 699m (2008: 320m)
International IFRS operating profit up 115% to 127m (2008: 59m)
Annual cost reduction of 69m VS 50m target
EEV operating profit up 51% at 1,319m (2008: 875m)
Worldwide EEV new business contribution up 10% to 328m (2008: 297m)
IGD surplus1 up by 1.3bn to 3.1bn (2008: 1.8bn)
Legal & General delivers 1.1bn IFRS operating profit, Generates 699m net cash and increases final dividend by 33%
IFRS operating profit up 87% at 1,109m (2008: 592m)
Final dividend up by 33% to 2.73p per share
Net cash up 118% at 699m (2008: 320m)
International IFRS operating profit up 115% to 127m (2008: 59m)
Annual cost reduction of 69m VS 50m target
EEV operating profit up 51% at 1,319m (2008: 875m)
Worldwide EEV new business contribution up 10% to 328m (2008: 297m)
IGD surplus1 up by 1.3bn to 3.1bn (2008: 1.8bn)
skinny
- 03 Aug 2011 07:31
- 97 of 204
Interim Management Statement.
Legal & General delivers STRONG GROWTH IN CASH GENERATION AND 25% INCREASE IN INTERIM DIVIDEND.
OPERATIONAL CASH GENERATION UP 19% to 498M (H1 2010: 417M)
NET CASH GENERATION UP 14% TO 427M (H1 2010: 373M)
INTERIM DIVIDEND UP 25% TO 1.66P PER SHARE (H1 2010: 1.33P PER SHARE)
WORLDWIDE SALES UP 4% TO 920M APE (H1 2010: 881M APE)
IFRS OPERATING PROFIT 523M (H1 2010: 542M),
IFRS PROFIT BEFORE TAX 473M (H1 2010: 537M)
EEV OPERATING PROFIT 12% HIGHER AT 662M (H1 2010: 589M)
EEV PER SHARE UP 5% TO 139P (31/12/2010: 132P)
IGD SURPLUS 4.0BN (31/12/2010) 3.7BN)
ANNUALISED IFRS RETURN ON EQUITY1 14.6% (2010: 18.6%)
Legal & General delivers STRONG GROWTH IN CASH GENERATION AND 25% INCREASE IN INTERIM DIVIDEND.
OPERATIONAL CASH GENERATION UP 19% to 498M (H1 2010: 417M)
NET CASH GENERATION UP 14% TO 427M (H1 2010: 373M)
INTERIM DIVIDEND UP 25% TO 1.66P PER SHARE (H1 2010: 1.33P PER SHARE)
WORLDWIDE SALES UP 4% TO 920M APE (H1 2010: 881M APE)
IFRS OPERATING PROFIT 523M (H1 2010: 542M),
IFRS PROFIT BEFORE TAX 473M (H1 2010: 537M)
EEV OPERATING PROFIT 12% HIGHER AT 662M (H1 2010: 589M)
EEV PER SHARE UP 5% TO 139P (31/12/2010: 132P)
IGD SURPLUS 4.0BN (31/12/2010) 3.7BN)
ANNUALISED IFRS RETURN ON EQUITY1 14.6% (2010: 18.6%)
skinny
- 03 Aug 2011 14:17
- 98 of 204
This is starting to looking attractive yield wise - ex dividend on 7th September.
skinny
- 22 Sep 2011 07:03
- 99 of 204
RNS Number : 6961O
Legal & General Group Plc
22 September 2011
Legal & general group plc
Legal & General Group Plc Board announces the planned retirement of Tim Breedon at the end of 2012
Legal & General Group Plc ("Legal & General" or "the Company") announces that Tim Breedon, Group Chief Executive of Legal & General has advised them of his intention to retire from the Company at the end of 2012.
Mr Breedon, previously, Group Director (Investments) and Deputy Group Chief Executive, was appointed to the position of Group Chief Executive on 1st January 2006. The Board will commence a process to appoint Tim's successor in due course.
Tim Breedon, Group Chief Executive, commented:
"It has been an absolute privilege to lead Legal & General, but by the end of 2012 I will have completed 25 years service with the Company and will have been CEO for 7 years. With the Company in excellent shape I feel that next year will be the right time to retire from the Company. By giving notice of this now, the Board will have ample time to plan and ensure an orderly succession."
John Stewart, Chairman of Legal & General, commented:
"Tim is and has been a first class CEO. The Company is in great shape and we are very appreciative of his excellent stewardship. I look forward to working with him in this next phase, building on this success, and in due course the appointment of his successor.
Legal & General Group Plc
22 September 2011
Legal & general group plc
Legal & General Group Plc Board announces the planned retirement of Tim Breedon at the end of 2012
Legal & General Group Plc ("Legal & General" or "the Company") announces that Tim Breedon, Group Chief Executive of Legal & General has advised them of his intention to retire from the Company at the end of 2012.
Mr Breedon, previously, Group Director (Investments) and Deputy Group Chief Executive, was appointed to the position of Group Chief Executive on 1st January 2006. The Board will commence a process to appoint Tim's successor in due course.
Tim Breedon, Group Chief Executive, commented:
"It has been an absolute privilege to lead Legal & General, but by the end of 2012 I will have completed 25 years service with the Company and will have been CEO for 7 years. With the Company in excellent shape I feel that next year will be the right time to retire from the Company. By giving notice of this now, the Board will have ample time to plan and ensure an orderly succession."
John Stewart, Chairman of Legal & General, commented:
"Tim is and has been a first class CEO. The Company is in great shape and we are very appreciative of his excellent stewardship. I look forward to working with him in this next phase, building on this success, and in due course the appointment of his successor.
skinny
- 01 Nov 2011 07:07
- 100 of 204
3rd Quarter Results.
Operational cash: up 17% TO GBP736M (Q3 YTD 2010: GBP628M)
Net cash: up 15% TO GBP631M (Q3 YTD 2010: GBP549M)
lgim ASSETS: GBP347bn (q3 YTD 2010: GBP342bn)
WORLDWIDE SALES: GBP1,338M (Q3 YTD 2010: GBP1,347M)
GBP1.1BN BULK ANNUITIES DEAL COMPLETED DURING Q4
Operational cash: up 17% TO GBP736M (Q3 YTD 2010: GBP628M)
Net cash: up 15% TO GBP631M (Q3 YTD 2010: GBP549M)
lgim ASSETS: GBP347bn (q3 YTD 2010: GBP342bn)
WORLDWIDE SALES: GBP1,338M (Q3 YTD 2010: GBP1,347M)
GBP1.1BN BULK ANNUITIES DEAL COMPLETED DURING Q4
TANKER - 11 Jan 2012 14:52 - 101 of 204
i am going sell and buy more RSA better div and its in march then i can buy these back after 6th march and get the div in these .
TANKER - 11 Jan 2012 14:55 - 102 of 204
my view is that i will buy these back at the same sp as today
skinny
- 11 Jan 2012 16:55
- 103 of 204
I'm 10p up on these and will continue to hold for now.
skinny
- 14 Mar 2012 07:04
- 104 of 204
Preliminary Results.
LEGAL & GENERAL DELIVERS STRONG RESULTS, DIVIDEND UP 35%
· FULL YEAR DIVIDEND UP 35% TO 6.40P PER SHARE (2010: 4.75P PER SHARE)
· OPERATIONAL cash generation UP 12% TO £940M (2010: £840M)
NET CASH GENERATION UP 11% TO £846M (2010: £760M)
· WORLDWIDE SALES UP 7% TO £1.9BN APE (2010: £1.8BN APE)
· OPERATING PROFIT £1,056M (2010: £1,002M)
IFRS PROFIT BEFORE TAX £956M (2010: £1,092M)
· EEV OPERATING PROFIT £1,469M (2010: £1,224M)
EEV PER SHARE UP 11% TO 147P (2010: 132P)
· IGD SURPLUS UP TO £3.8BN AFTER DIVIDEND (2010: £3.7BN)
· IFRS return on equity 14.5% (2010: 18.2%)
Final Dividend 4.74p.
LEGAL & GENERAL DELIVERS STRONG RESULTS, DIVIDEND UP 35%
· FULL YEAR DIVIDEND UP 35% TO 6.40P PER SHARE (2010: 4.75P PER SHARE)
· OPERATIONAL cash generation UP 12% TO £940M (2010: £840M)
NET CASH GENERATION UP 11% TO £846M (2010: £760M)
· WORLDWIDE SALES UP 7% TO £1.9BN APE (2010: £1.8BN APE)
· OPERATING PROFIT £1,056M (2010: £1,002M)
IFRS PROFIT BEFORE TAX £956M (2010: £1,092M)
· EEV OPERATING PROFIT £1,469M (2010: £1,224M)
EEV PER SHARE UP 11% TO 147P (2010: 132P)
· IGD SURPLUS UP TO £3.8BN AFTER DIVIDEND (2010: £3.7BN)
· IFRS return on equity 14.5% (2010: 18.2%)
Final Dividend 4.74p.
skinny
- 03 May 2012 07:05
- 106 of 204
Interim Management Statement.
LEGAL & GENERAL BUILDS FURTHER SCALE IN KEY MARKETS
OPERATIONAL CASH GENERATION £249M (Q1 2011: £245M)
NET CASH GENERATION £210M (Q1 2011: £209M)
LGIM ASSETS UP TO £383BN (FY 2011: £371BN)
LGIM NET FLOWS UP 29% TO £2.6BN (Q1 2011: £2.0BN)
RISK SALES UP 8% TO £78M APE (Q1 2011: £72M APE)
SAVINGS SALES DOWN 6% TO £300M APE (Q1 2011: £320M APE)
INTERNATIONAL SALES UP 37% TO £56M APE (Q1 2011: £41M APE)
LEGAL & GENERAL BUILDS FURTHER SCALE IN KEY MARKETS
OPERATIONAL CASH GENERATION £249M (Q1 2011: £245M)
NET CASH GENERATION £210M (Q1 2011: £209M)
LGIM ASSETS UP TO £383BN (FY 2011: £371BN)
LGIM NET FLOWS UP 29% TO £2.6BN (Q1 2011: £2.0BN)
RISK SALES UP 8% TO £78M APE (Q1 2011: £72M APE)
SAVINGS SALES DOWN 6% TO £300M APE (Q1 2011: £320M APE)
INTERNATIONAL SALES UP 37% TO £56M APE (Q1 2011: £41M APE)
skinny
- 10 May 2012 07:15
- 107 of 204
Legal & General Group Plc Board announces the appointment of Nigel Wilson as Group Chief Executive.
Legal & General Group Plc ("Legal & General" or "the Company") is pleased to announce that Dr. Nigel Wilson will be appointed as Group Chief Executive as successor to Tim Breedon. Nigel joined Legal & General as Group Chief Financial Officer and a member of the Board in September 2009. His appointment follows a thorough and exhaustive process conducted by the Board under the Chairman's leadership and with the assistance of a leading executive search firm. With immediate effect, Nigel will be Group Chief Executive Designate and will formally succeed Tim with effect from 30 June 2012.
Tim will step down as Group Chief Executive and a member of the Board from 30 June but will remain an employee of the Company until 31 December 2012 undertaking an important advisory role on key activities including working on and lobbying for an appropriate outcome on Solvency II.
Legal & General Group Plc ("Legal & General" or "the Company") is pleased to announce that Dr. Nigel Wilson will be appointed as Group Chief Executive as successor to Tim Breedon. Nigel joined Legal & General as Group Chief Financial Officer and a member of the Board in September 2009. His appointment follows a thorough and exhaustive process conducted by the Board under the Chairman's leadership and with the assistance of a leading executive search firm. With immediate effect, Nigel will be Group Chief Executive Designate and will formally succeed Tim with effect from 30 June 2012.
Tim will step down as Group Chief Executive and a member of the Board from 30 June but will remain an employee of the Company until 31 December 2012 undertaking an important advisory role on key activities including working on and lobbying for an appropriate outcome on Solvency II.
skinny
- 07 Aug 2012 07:07
- 108 of 204
Half yearly report part 1
LEGAL & GENERAL: DIVIDENDS UP 18% TO 1.96P AND EARNINGS PER SHARE UP 14% TO 6.96P
FINANCIAL HIGHLIGHTS:
· INTERIM DIVIDEND UP 18% TO 1.96P PER SHARE (H1 2011: 1.66P PER SHARE)
EARNINGS PER SHARE UP 14% TO 6.96P (H1 2011: 6.13P)
· OPERATING PROFIT UP 5% TO £518M (H1 2011: £493M)
RISK, SAVINGS AND INVESTMENT MANAGEMENT ALL IMPROVED OPERATING PROFIT
IFRS PROFIT BEFORE TAX UP 11% £525M (H1 2011: £471M)
· IFRS RETURN ON EQUITY1 15.9% (H1 2011: 15.0%)
· OPERATIONAL CASH GENERATION £471M (H1 2011: £477M)
NET CASH GENERATION £407M (H1 2011: £406M)
· IGD SURPLUS £3.8BN AFTER INTERIM DIVIDEND (FY 2011: £3.8BN)
OPERATIONAL HIGHLIGHTS:
· LGIM NET FLOWS UP 33% TO £4.0BN (H1 2011: £3.0BN) AND AUM £381BN (FY 2011: £371BN)
· PROTECTION GROSS PREMIUMS UP 9%TO £672M (H1 2011: £614M)
US GROSS PREMIUMS UP 13% TO $456M (H1 2011: $403M)
LEGAL & GENERAL: DIVIDENDS UP 18% TO 1.96P AND EARNINGS PER SHARE UP 14% TO 6.96P
FINANCIAL HIGHLIGHTS:
· INTERIM DIVIDEND UP 18% TO 1.96P PER SHARE (H1 2011: 1.66P PER SHARE)
EARNINGS PER SHARE UP 14% TO 6.96P (H1 2011: 6.13P)
· OPERATING PROFIT UP 5% TO £518M (H1 2011: £493M)
RISK, SAVINGS AND INVESTMENT MANAGEMENT ALL IMPROVED OPERATING PROFIT
IFRS PROFIT BEFORE TAX UP 11% £525M (H1 2011: £471M)
· IFRS RETURN ON EQUITY1 15.9% (H1 2011: 15.0%)
· OPERATIONAL CASH GENERATION £471M (H1 2011: £477M)
NET CASH GENERATION £407M (H1 2011: £406M)
· IGD SURPLUS £3.8BN AFTER INTERIM DIVIDEND (FY 2011: £3.8BN)
OPERATIONAL HIGHLIGHTS:
· LGIM NET FLOWS UP 33% TO £4.0BN (H1 2011: £3.0BN) AND AUM £381BN (FY 2011: £371BN)
· PROTECTION GROSS PREMIUMS UP 9%TO £672M (H1 2011: £614M)
US GROSS PREMIUMS UP 13% TO $456M (H1 2011: $403M)
Stan
- 27 Aug 2012 21:16
- 109 of 204
Hey skinny are you still 10p up on these? I've looked at the last 5 years and it appears these usually drop after the Interim divvy so will leave alone this time.
skinny
- 28 Aug 2012 07:03
- 110 of 204
Stan - I bought @99.89 (up 28.82%).
Stan
- 28 Aug 2012 07:56
- 111 of 204
99.89?.. Yee ha! nice one.. who you buying next and when? -):
skinny
- 28 Aug 2012 08:00
- 112 of 204
Stan - mixed results with the insurers - I'm down 6% on RSA and recently sold SL +45p.
Stan
- 28 Aug 2012 08:41
- 113 of 204
Skinny, I lost interest in the Insurance/Assurance sector when the Banks started playing up, but you have shown that I was clearly over cautious -):
skinny
- 28 Aug 2012 08:45
- 114 of 204
If you want the (insurance sector) yield with less risk/reward, have a look at GACA,GACB,SLI and many others.
Stan
- 28 Aug 2012 08:49
- 115 of 204
Thanks.
skinny
- 01 Nov 2012 07:29
- 116 of 204
Interim Management statement
LEGAL & GENERAL: RECORD THIRD QUARTER SALES; ASSETS UNDER MANAGEMENT OVER £390BN
· UK PROTECTION SALES UP 30% TO £56M (Q3 2011: £43M)
· US PROTECTION SALES UP 33% TO £24M (Q3 2011: £18M)
· INDIVIDUAL ANNUITY SALES UP 10% TO £350M (Q3 2011: £319M)
· AUTO ENROLMENT ACCELERATING FLOWS TO PENSIONS, Q3 NET INFLOWS £429M
· LGIM INTERNATIONAL NET INFLOWS £5.6BN (Q3 YTD 2011: £1.9BN)
· TOTAL OPERATIONAL CASH £702M, OPERATIONAL CASH FROM DIVISIONS UP £25M TO £686M (Q3 YTD 2011: £661M)
· NET CASH GENERATION UP £15M TO £616M (Q3 YTD 2011: £601M)
LEGAL & GENERAL: RECORD THIRD QUARTER SALES; ASSETS UNDER MANAGEMENT OVER £390BN
· UK PROTECTION SALES UP 30% TO £56M (Q3 2011: £43M)
· US PROTECTION SALES UP 33% TO £24M (Q3 2011: £18M)
· INDIVIDUAL ANNUITY SALES UP 10% TO £350M (Q3 2011: £319M)
· AUTO ENROLMENT ACCELERATING FLOWS TO PENSIONS, Q3 NET INFLOWS £429M
· LGIM INTERNATIONAL NET INFLOWS £5.6BN (Q3 YTD 2011: £1.9BN)
· TOTAL OPERATIONAL CASH £702M, OPERATIONAL CASH FROM DIVISIONS UP £25M TO £686M (Q3 YTD 2011: £661M)
· NET CASH GENERATION UP £15M TO £616M (Q3 YTD 2011: £601M)
skinny
- 07 Jan 2013 07:12
- 117 of 204
UPDATE ON US CAPITAL PROGRAMME
LEGAL & GENERAL DELIVERS FURTHER PHASE OF US CAPITAL PROGRAMME ON 31 DEC 2012
· REINSURANCE SOLUTION AT HEART OF PHASE 4 DELIVERS $345M CAPITAL BENEFIT TO L&G AMERICA (LGA) AND £172M TO L&G GROUP IGD SURPLUS
· CUMULATIVE PROGRAMME BENEFITS TO L&G AMERICA $735M OVER 2 YEARS
· CUMULATIVE PROGRAMME BENEFITS TO L&G GROUP IGD SURPLUS OF £402M (£260M IN 2012)
· IMPROVED RETURN ON EQUITY OF L&G AMERICA AND PROFITABILITY OF NEW BUSINESS
LEGAL & GENERAL DELIVERS FURTHER PHASE OF US CAPITAL PROGRAMME ON 31 DEC 2012
· REINSURANCE SOLUTION AT HEART OF PHASE 4 DELIVERS $345M CAPITAL BENEFIT TO L&G AMERICA (LGA) AND £172M TO L&G GROUP IGD SURPLUS
· CUMULATIVE PROGRAMME BENEFITS TO L&G AMERICA $735M OVER 2 YEARS
· CUMULATIVE PROGRAMME BENEFITS TO L&G GROUP IGD SURPLUS OF £402M (£260M IN 2012)
· IMPROVED RETURN ON EQUITY OF L&G AMERICA AND PROFITABILITY OF NEW BUSINESS
skinny
- 21 Feb 2013 07:30
- 118 of 204
LEGAL & GENERAL AGREES LARGEST EVER LONGEVITY INSURANCE DEAL WITH BAE SYSTEMS 2000 PENSION PLAN.
Legal & General has put in place a longevity insurance arrangement for the BAE Systems 2000 Pension Plan ("the Plan"), the largest such arrangement completed in the UK.
The arrangement insures the Plan against the financial risk of its 31,000 current pensioners living longer than expected, covering a total of £2.7bn of liabilities as measured by the Plan, or £3.2bn discounted at Libor1. The pensioners of the Plan will see no changes to its administration.
The transaction demonstrates the increasing appetite of pension schemes and their sponsors for insuring longevity risk, as well as Legal & General's capability in this developing market. Legal & General will retain 30% of the longevity risk, with the remainder being reinsured by Hannover Re.
Legal & General has put in place a longevity insurance arrangement for the BAE Systems 2000 Pension Plan ("the Plan"), the largest such arrangement completed in the UK.
The arrangement insures the Plan against the financial risk of its 31,000 current pensioners living longer than expected, covering a total of £2.7bn of liabilities as measured by the Plan, or £3.2bn discounted at Libor1. The pensioners of the Plan will see no changes to its administration.
The transaction demonstrates the increasing appetite of pension schemes and their sponsors for insuring longevity risk, as well as Legal & General's capability in this developing market. Legal & General will retain 30% of the longevity risk, with the remainder being reinsured by Hannover Re.
skinny
- 25 Feb 2013 11:18
- 119 of 204
Looking at 2007 highs.
skinny
- 05 Mar 2013 11:36
- 120 of 204
5+ year high today - final results tomorrow.
skinny
- 06 Mar 2013 07:04
- 121 of 204
Final Results part 1
EARNINGS PER SHARE UP 12% AND DIVIDENDS UP 20%
FINANCIAL HIGHLIGHTS:
· EARNINGS PER SHARE UP 12% TO 13.90P (2011: 12.42P)
· FULL YEAR DIVIDEND UP 20% TO 7.65P PER SHARE (2011: 6.40P PER SHARE)
· OPERATING PROFIT UP TO £1,087M (2011: £1,053M); OPERATING PROFIT FROM DIVISIONS UP TO £1,115M (2011: £1,058M)
· PROFIT AFTER TAX UP TO £801M (2011: £721M)
· NET CASH UP TO £865M (2011: £846M); NET CASH FROM DIVISIONS UP TO £845M (2011: £802M)
· IFRS RETURN ON EQUITY 15.5% (2011: 14.9%)
ACCELERATING GROWTH IN FLOWS AND STOCK:
· LGIM NET FLOWS UP TO £7.1BN (2011: £3.0BN) AUM UP 9% TO £406BN
· INDIVIDUAL ANNUITY SALES UP 26% TO £132M AUM UP 13% TO £32BN
· SAVINGS SALES UP 15% TO £1.5BN AUA UP 8% TO £70BN
· UK PROTECTION SALES UP 25% TO £221M GWP UP 6% TO £1.3BN
· US PROTECTION SALES UP 28% TO $142M GWP UP 10% TO $922M
· GI PREMIUMS UP 15% TO £349M
EARNINGS PER SHARE UP 12% AND DIVIDENDS UP 20%
FINANCIAL HIGHLIGHTS:
· EARNINGS PER SHARE UP 12% TO 13.90P (2011: 12.42P)
· FULL YEAR DIVIDEND UP 20% TO 7.65P PER SHARE (2011: 6.40P PER SHARE)
· OPERATING PROFIT UP TO £1,087M (2011: £1,053M); OPERATING PROFIT FROM DIVISIONS UP TO £1,115M (2011: £1,058M)
· PROFIT AFTER TAX UP TO £801M (2011: £721M)
· NET CASH UP TO £865M (2011: £846M); NET CASH FROM DIVISIONS UP TO £845M (2011: £802M)
· IFRS RETURN ON EQUITY 15.5% (2011: 14.9%)
ACCELERATING GROWTH IN FLOWS AND STOCK:
· LGIM NET FLOWS UP TO £7.1BN (2011: £3.0BN) AUM UP 9% TO £406BN
· INDIVIDUAL ANNUITY SALES UP 26% TO £132M AUM UP 13% TO £32BN
· SAVINGS SALES UP 15% TO £1.5BN AUA UP 8% TO £70BN
· UK PROTECTION SALES UP 25% TO £221M GWP UP 6% TO £1.3BN
· US PROTECTION SALES UP 28% TO $142M GWP UP 10% TO $922M
· GI PREMIUMS UP 15% TO £349M
skinny
- 06 Mar 2013 11:48
- 122 of 204
Looking good!
BAYLIS
- 06 Mar 2013 13:07
- 123 of 204
THANKYOU SKINNY LOOKING GOOD.
skinny
- 07 Mar 2013 10:36
- 124 of 204
Barclays Capital Overweight 165.30 166.00 166.40 - Reiterates
Bank of America Merrill Lynch Neutral 165.30 166.00 155.00 172.00 Reiterates
HB Markets Buy 165.30 166.00 - - Reiterates
Deutsche Bank Buy 165.30 166.00 170.00 170.00 Retains
JP Morgan Cazenove Neutral 165.30 166.00 144.00 - Reiterates
Bank of America Merrill Lynch Neutral 165.30 166.00 155.00 172.00 Reiterates
HB Markets Buy 165.30 166.00 - - Reiterates
Deutsche Bank Buy 165.30 166.00 170.00 170.00 Retains
JP Morgan Cazenove Neutral 165.30 166.00 144.00 - Reiterates
skinny
- 14 Mar 2013 07:49
- 125 of 204
Barclays Capital Overweight 0.00 166.40 180.80 Reiterates
skinny
- 18 Mar 2013 07:13
- 126 of 204
L&Gs First Direct Investment - CALA
LEGAL & GENERAL'S FIRST DIRECT INVESTMENT IN HOUSE BUILDER - CALA GROUP
18 March 2013
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire an interest in CALA Group Ltd ("CALA"), the UK's premium major home builder, from Lloyds Banking Group. The acquisition values CALA at £210m.
Legal & General will acquire a 46.5% equity stake in CALA, as an equal partner with Patron Capital Partners ("Patron"), alongside management who will take a 7% share. The acquisition will be financed by £140m of equity and £70m of debt. Legal & General and Patron will both have a representative on CALA's Board.
Legal & General's £65m equity investment will be financed from its own resources and comprises initial consideration of £58m and £7m of deferred consideration payable by 17 March 2014. The acquisition is expected to be earnings accretive for Legal & General in its first year and is expected to deliver a return above the Group's weighted average cost of capital. There is no goodwill associated with this transaction.
Legal & General has identified direct investments as a key driver of growth and the acquisition marks the Group's first direct investment of this kind. The acquisition forms part of a strategy to target socially useful projects (including housing, education, transport and energy sectors) that deliver high rates of return and fit Legal & General's financial and strategic criteria.
CALA has a premium market positioning and a presence across the UK in more affluent areas such as the Home Counties, the Cotswolds, and around Glasgow, Edinburgh and Aberdeen. As at 30th June 2012 CALA had gross assets of £354m and profit before tax for the year of £11.4m. CALA's current land bank comprises approximately 15,300 plots, including 9,900 owned and contracted, and a longer term strategic land bank of circa 5,400 plots. Owned and contracted plots represent approximately 10 years' output on current projections, with a potential gross development value of £3.1bn.
LEGAL & GENERAL'S FIRST DIRECT INVESTMENT IN HOUSE BUILDER - CALA GROUP
18 March 2013
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire an interest in CALA Group Ltd ("CALA"), the UK's premium major home builder, from Lloyds Banking Group. The acquisition values CALA at £210m.
Legal & General will acquire a 46.5% equity stake in CALA, as an equal partner with Patron Capital Partners ("Patron"), alongside management who will take a 7% share. The acquisition will be financed by £140m of equity and £70m of debt. Legal & General and Patron will both have a representative on CALA's Board.
Legal & General's £65m equity investment will be financed from its own resources and comprises initial consideration of £58m and £7m of deferred consideration payable by 17 March 2014. The acquisition is expected to be earnings accretive for Legal & General in its first year and is expected to deliver a return above the Group's weighted average cost of capital. There is no goodwill associated with this transaction.
Legal & General has identified direct investments as a key driver of growth and the acquisition marks the Group's first direct investment of this kind. The acquisition forms part of a strategy to target socially useful projects (including housing, education, transport and energy sectors) that deliver high rates of return and fit Legal & General's financial and strategic criteria.
CALA has a premium market positioning and a presence across the UK in more affluent areas such as the Home Counties, the Cotswolds, and around Glasgow, Edinburgh and Aberdeen. As at 30th June 2012 CALA had gross assets of £354m and profit before tax for the year of £11.4m. CALA's current land bank comprises approximately 15,300 plots, including 9,900 owned and contracted, and a longer term strategic land bank of circa 5,400 plots. Owned and contracted plots represent approximately 10 years' output on current projections, with a potential gross development value of £3.1bn.
skinny
- 25 Mar 2013 09:04
- 127 of 204
Credit Suisse Neutral 170.15 169.10 160.00 175.00 Retains
skinny
- 26 Mar 2013 07:06
- 128 of 204
LEGAL & GENERAL ACQUIRES COFUNDS PLATFORM
Legal & General Group Plc ("Legal & General") has agreed to acquire the 75% share capital of Cofunds Holdings Ltd ("Cofunds"), which it does not already own, for a cash consideration of £131m. The transaction will be financed out of Legal & General's existing cash resources. The acquisition values Cofunds at £175m and is subject to regulatory approval.
Legal & General Group Plc ("Legal & General") has agreed to acquire the 75% share capital of Cofunds Holdings Ltd ("Cofunds"), which it does not already own, for a cash consideration of £131m. The transaction will be financed out of Legal & General's existing cash resources. The acquisition values Cofunds at £175m and is subject to regulatory approval.
skinny
- 02 May 2013 07:02
- 129 of 204
LEGAL & GENERAL GROUP PLC: QUARTER 1 2013 INTERIM MANAGEMENT STATEMENT
LEGAL & GENERAL: RECORD ASSETS, SALES AND CASH GENERATION
· TOTAL LGIM AUM UP 9% TO £441BN (FY 2012: £406BN). INTERNATIONAL AUM UP 21% TO £52BN (FY 2012: £43BN)
· LGIM GROSS INFLOWS UP 81% TO £13.6BN (Q1 2012: £7.5BN)
· RECORD LGIM INTERNATIONAL NET FLOWS OF £6.7BN (Q1 2012: £1.2BN)
· BULK PURCHASE ANNUITY Q1 PREMIUMS OF £357M (Q1 2012: £36M)
· RECORD INDIVIDUAL ANNUITY Q1 PREMIUMS UP 51% TO £406M (Q1 2012: £268M)
· GROUP PROTECTION SALES UP 67% TO £20M (Q1 2012: £12M)
· RECORD Q1 WORKPLACE PENSION SALES UP 115% TO £202M (Q1 2012: £94M)
· SAVINGS PRO FORMA AUA OVER £100BN FOLLOWING COMPLETION OF COFUNDS ACQUISITION
· OPERATIONAL CASH GENERATION UP 13% TO £281M (Q1 2012: £249M)
· NET CASH GENERATION UP 19% TO £249M (Q1 2012: £210M)
LEGAL & GENERAL: RECORD ASSETS, SALES AND CASH GENERATION
· TOTAL LGIM AUM UP 9% TO £441BN (FY 2012: £406BN). INTERNATIONAL AUM UP 21% TO £52BN (FY 2012: £43BN)
· LGIM GROSS INFLOWS UP 81% TO £13.6BN (Q1 2012: £7.5BN)
· RECORD LGIM INTERNATIONAL NET FLOWS OF £6.7BN (Q1 2012: £1.2BN)
· BULK PURCHASE ANNUITY Q1 PREMIUMS OF £357M (Q1 2012: £36M)
· RECORD INDIVIDUAL ANNUITY Q1 PREMIUMS UP 51% TO £406M (Q1 2012: £268M)
· GROUP PROTECTION SALES UP 67% TO £20M (Q1 2012: £12M)
· RECORD Q1 WORKPLACE PENSION SALES UP 115% TO £202M (Q1 2012: £94M)
· SAVINGS PRO FORMA AUA OVER £100BN FOLLOWING COMPLETION OF COFUNDS ACQUISITION
· OPERATIONAL CASH GENERATION UP 13% TO £281M (Q1 2012: £249M)
· NET CASH GENERATION UP 19% TO £249M (Q1 2012: £210M)
Stan
- 02 May 2013 15:00
- 130 of 204
Panmure Gordon reiterates buy on Legal & General, target up from 190p to 205p.
Up 2% so far on that IMS, I haven't been in these for years but usualy a pretty safe bet all round.
Up 2% so far on that IMS, I haven't been in these for years but usualy a pretty safe bet all round.
skinny
- 03 May 2013 08:58
- 131 of 204
All time high this am @ 177.20.
Deutsche Bank Buy 176.70 189.00 189.00 Retains
Deutsche Bank Buy 176.70 189.00 189.00 Retains
skinny
- 15 May 2013 12:00
- 132 of 204
All time high @186.10 this morning.
skinny
- 21 May 2013 13:25
- 133 of 204
It looks like LGEN are having a Spring clean!
Stan
- 21 May 2013 14:07
- 134 of 204
Certainly does Skinny, EXPN, JMAT and AMEC to name but 3.
skinny
- 23 May 2013 07:34
- 135 of 204
midknight
- 28 May 2013 11:53
- 136 of 204
skinny, thought you might see this.
Another favour, please. Could you put
a chart on the SDY thread, if possible.
Thanks.
Another favour, please. Could you put
a chart on the SDY thread, if possible.
Thanks.
skinny
- 28 May 2013 11:57
- 137 of 204
Only the thread initiator or MAM can do that.
skinny
- 29 May 2013 13:39
- 138 of 204
skinny
- 26 Jun 2013 07:55
- 139 of 204
LEGAL & GENERAL'S RETIREMENT SOLUTIONS INVESTMENT - LUCIDA PLC.
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire the entire share capital of Lucida plc ("Lucida"), the closed UK annuity buy-out company with a portfolio of £1.4bn of annuity assets, from LCM Holdings Limited. The acquisition, by the Group's subsidiary Legal & General Assurance Society ("LGAS"), an AA- rated entity, for an estimated consideration of £151m, is expected to complete in Quarter 3 2013, subject to PRA and FCA approval.
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire the entire share capital of Lucida plc ("Lucida"), the closed UK annuity buy-out company with a portfolio of £1.4bn of annuity assets, from LCM Holdings Limited. The acquisition, by the Group's subsidiary Legal & General Assurance Society ("LGAS"), an AA- rated entity, for an estimated consideration of £151m, is expected to complete in Quarter 3 2013, subject to PRA and FCA approval.
skinny
- 03 Jul 2013 08:13
- 140 of 204
RBC Capital Markets Outperform 0.00 176.20 - 200.00 Reiterates
skinny
- 23 Jul 2013 07:55
- 141 of 204
Berenberg Buy 190.70 190.70 200.00 210.00 Retains
skinny
- 31 Jul 2013 09:55
- 142 of 204
skinny
- 31 Jul 2013 10:56
- 143 of 204
New high this morning @194.20p
skinny
- 05 Aug 2013 10:21
- 144 of 204
New high this morning @199.90p and trying to break £2.
skinny
- 06 Aug 2013 07:02
- 145 of 204
L&G Half-year Results 2013 - Part 1
Part 2
Part 3
DIVIDENDS UP 22% AND EARNINGS PER SHARE UP 13%
FINANCIAL HIGHLIGHTS - STRONG PERFORMANCE:
· OPERATIONAL CASH GENERATION UP 14% TO £537M (H1 2012: £471M)
NET CASH GENERATION UP 23% TO £500M (H1 2012: £407M)
· OPERATING PROFIT UP 10% TO £571M (H1 2012: £518M)
· PROFIT BEFORE TAX UP 13% TO £592M (H1 2012: £523M)
PROFIT AFTER TAX UP 15% TO £464M (H1 2012: £405M)
· EARNINGS PER SHARE UP 13% TO 7.82P (H1 2012: 6.93P)
· RETURN ON EQUITY1 16.8% (H1 2012: 15.8%)
· INTERIM DIVIDEND UP 22% TO 2.40P PER SHARE (H1 2012: 1.96P PER SHARE)
BUSINESS HIGHLIGHTS - ACCELERATING GROWTH:
· LGIM GROSS FLOWS UP 66% TO £24.9BN; NET FLOWS UP 100% TO £8.0BN
LGIM AUM £433BN (FY 2012: £406BN)
· BULK ANNUITY SALES £670M (H1 2012: £67M)
INDIVIDUAL ANNUITY SALES UP 44% TO £754M (H1 2012: £522M)
· SAVINGS AUA AFTER ACQUISITION OF COFUNDS £111BN2 (FY 2012: £70BN)
· UK PROTECTION GROSS PREMIUMS UP 3% TO £689M (H1 2012: £672M)
US PROTECTION GROSS PREMIUMS UP 10% TO $503M (H1 2012: $456M)
GENERAL INSURANCE PREMIUMS UP 10% TO £183M (H1 2012: £166M)
Part 2
Part 3
DIVIDENDS UP 22% AND EARNINGS PER SHARE UP 13%
FINANCIAL HIGHLIGHTS - STRONG PERFORMANCE:
· OPERATIONAL CASH GENERATION UP 14% TO £537M (H1 2012: £471M)
NET CASH GENERATION UP 23% TO £500M (H1 2012: £407M)
· OPERATING PROFIT UP 10% TO £571M (H1 2012: £518M)
· PROFIT BEFORE TAX UP 13% TO £592M (H1 2012: £523M)
PROFIT AFTER TAX UP 15% TO £464M (H1 2012: £405M)
· EARNINGS PER SHARE UP 13% TO 7.82P (H1 2012: 6.93P)
· RETURN ON EQUITY1 16.8% (H1 2012: 15.8%)
· INTERIM DIVIDEND UP 22% TO 2.40P PER SHARE (H1 2012: 1.96P PER SHARE)
BUSINESS HIGHLIGHTS - ACCELERATING GROWTH:
· LGIM GROSS FLOWS UP 66% TO £24.9BN; NET FLOWS UP 100% TO £8.0BN
LGIM AUM £433BN (FY 2012: £406BN)
· BULK ANNUITY SALES £670M (H1 2012: £67M)
INDIVIDUAL ANNUITY SALES UP 44% TO £754M (H1 2012: £522M)
· SAVINGS AUA AFTER ACQUISITION OF COFUNDS £111BN2 (FY 2012: £70BN)
· UK PROTECTION GROSS PREMIUMS UP 3% TO £689M (H1 2012: £672M)
US PROTECTION GROSS PREMIUMS UP 10% TO $503M (H1 2012: $456M)
GENERAL INSURANCE PREMIUMS UP 10% TO £183M (H1 2012: £166M)
Stan
- 06 Aug 2013 07:05
- 146 of 204
Thanks Skinny, I must have another look at this sector.
skinny
- 06 Aug 2013 07:07
- 147 of 204
These are up 99% for me - hopefully 100+% on this update.
Stan
- 06 Aug 2013 08:27
- 148 of 204
Up 100%?.. Is that all -):
skinny
- 06 Aug 2013 08:42
- 149 of 204
Well it has taken since August 2011! :-)
skinny
- 06 Aug 2013 11:34
- 150 of 204
Prime Markets Buy 204.45 215.00 215.00 Reiterates
Bank of America Merrill Lynch Neutral 204.45 195.00 195.00 Reiterates
Bank of America Merrill Lynch Neutral 204.45 195.00 195.00 Reiterates
skinny
- 07 Aug 2013 07:22
- 151 of 204
A change of heart since yesterday.
Bank of America Merrill Lynch Neutral 201.90 201.90 195.00 210.00 Retains
Bank of America Merrill Lynch Neutral 201.90 201.90 195.00 210.00 Retains
Stan
- 12 Aug 2013 08:41
- 152 of 204
Ricardo Group Plc go under 5%.
skinny
- 13 Aug 2013 07:58
- 153 of 204
Citigroup Neutral 196.20 196.20 181.00 210.00 Retains
Stan
- 13 Aug 2013 14:28
- 154 of 204
Wrong info post -):
Stan
- 13 Aug 2013 14:50
- 156 of 204
Thanks Skinny, good job someone's awake -):
skinny
- 18 Sep 2013 07:12
- 157 of 204
Goldman Sachs Neutral 200.60 200.70 195.00 205.00 Reiterates
skinny
- 18 Sep 2013 10:59
- 158 of 204
Canaccord Genuity Hold 200.50 200.70 180.00 215.00 Reiterates
skinny
- 18 Oct 2013 15:57
- 159 of 204
Post tech boom high @207.50p.
skinny
- 22 Oct 2013 12:16
- 160 of 204
And again @210.90p
skinny
- 04 Nov 2013 13:28
- 161 of 204
New high @218.10p
Trading Statement tomorrow.
skinny
- 05 Nov 2013 07:02
- 162 of 204
Q3 IMS - Part 1
Q3 IMS - Part 2
NET CASH UP 20%. STRONG PERFORMANCE ACROSS ALL DIVISIONS.
GROUP HIGHLIGHTS:
• OPERATIONAL CASH GENERATION Q3 YTD UP 11% TO £780M (Q3 2012: £702M)
• NET CASH GENERATION Q3 YTD UP 20% TO £740M (Q3 2012: £616M)
BUSINESS HIGHLIGHTS:
LEGAL & GENERAL INVESTMENT MANAGEMENT (LGIM)
• Q3 GROSS INFLOWS UP 71% TO £15.4BN (Q3 2012: £9.0BN)
YTD GROSS INFLOWS UP 65% TO £42.1BN (Q3 YTD 2012: £25.5BN)
• TOTAL AUM UP TO £443BN (H1 2013: £433BN)
INTERNATIONAL AUM UP TO £57BN (H1 2013: £52BN)
LEGAL & GENERAL RETIREMENT (LGR)
· Q3 ANNUITY PREMIUMS UP 199% TO £2.3BN (Q3 2012: £0.8BN)
· YTD ANNUITY PREMIUMS UP 174% TO £3.7BN (Q3 YTD 2012: £1.3BN)
LEGAL & GENERAL ASSURANCE SOCIETY (LGAS)
· RETAIL PROTECTION Q3 SALES UP 11% TO £40M (Q3 2012: £36M)
· COFUNDS AUA INCREASED TO £58BN (H1 2013: £54BN)
LEGAL & GENERAL AMERICA (LGA)
· US PROTECTION Q3 SALES UP 13% TO $43M (Q3 2012: $38M)
LEGAL & GENERAL CAPITAL (LGC)
· DIRECT INVESTMENTS INCREASED TO £2.1BN (H1 2013: £1.7BN)
Q3 IMS - Part 2
NET CASH UP 20%. STRONG PERFORMANCE ACROSS ALL DIVISIONS.
GROUP HIGHLIGHTS:
• OPERATIONAL CASH GENERATION Q3 YTD UP 11% TO £780M (Q3 2012: £702M)
• NET CASH GENERATION Q3 YTD UP 20% TO £740M (Q3 2012: £616M)
BUSINESS HIGHLIGHTS:
LEGAL & GENERAL INVESTMENT MANAGEMENT (LGIM)
• Q3 GROSS INFLOWS UP 71% TO £15.4BN (Q3 2012: £9.0BN)
YTD GROSS INFLOWS UP 65% TO £42.1BN (Q3 YTD 2012: £25.5BN)
• TOTAL AUM UP TO £443BN (H1 2013: £433BN)
INTERNATIONAL AUM UP TO £57BN (H1 2013: £52BN)
LEGAL & GENERAL RETIREMENT (LGR)
· Q3 ANNUITY PREMIUMS UP 199% TO £2.3BN (Q3 2012: £0.8BN)
· YTD ANNUITY PREMIUMS UP 174% TO £3.7BN (Q3 YTD 2012: £1.3BN)
LEGAL & GENERAL ASSURANCE SOCIETY (LGAS)
· RETAIL PROTECTION Q3 SALES UP 11% TO £40M (Q3 2012: £36M)
· COFUNDS AUA INCREASED TO £58BN (H1 2013: £54BN)
LEGAL & GENERAL AMERICA (LGA)
· US PROTECTION Q3 SALES UP 13% TO $43M (Q3 2012: $38M)
LEGAL & GENERAL CAPITAL (LGC)
· DIRECT INVESTMENTS INCREASED TO £2.1BN (H1 2013: £1.7BN)
skinny
- 06 Nov 2013 07:51
- 163 of 204
Buy 213.10 213.10 225.00 255.00 Retains
skinny
- 07 Jan 2014 10:44
- 164 of 204
New high @230.60p
;MA(50);MA(200)&IND=MACD(26,12,9);RSI(14);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 15 Jan 2014 10:01
- 165 of 204
Credit Suisse Neutral 231.70 175.00 240.00 Retains
skinny
- 19 Feb 2014 11:05
- 166 of 204
Bank of America Merrill Lynch Buy 238.80 239.70 - 250.00 Retains
skinny
- 21 Feb 2014 07:10
- 167 of 204
LEGAL & GENERAL'S FIRST US INVESTMENT MANAGEMENT ACQUISITION - GLOBAL INDEX ADVISORS, INC.
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire the business of Global Index Advisors, Inc ("GIA"), an Atlanta based investment advisor focused on target date funds ("TDF"). GIA is in the top 51 of target date providers in the US. The acquisition, by the Group's subsidiary Legal & General Investment Management America, Inc ("LGIMA"), for a maximum consideration of $50.4m, is expected to complete mid 2014, subject to Fund shareholder approval.
Legal & General Group Plc ("Legal & General" or the "Group") has today agreed to acquire the business of Global Index Advisors, Inc ("GIA"), an Atlanta based investment advisor focused on target date funds ("TDF"). GIA is in the top 51 of target date providers in the US. The acquisition, by the Group's subsidiary Legal & General Investment Management America, Inc ("LGIMA"), for a maximum consideration of $50.4m, is expected to complete mid 2014, subject to Fund shareholder approval.
skinny
- 05 Mar 2014 07:02
- 168 of 204
L&G Prelims 2013 - Part 1
L&G Prelims 2013 - Part 2
NET CASH UP 16% TO £1BN. DIVIDEND UP 22%.
NET CASH DIVIDEND COVER TOWARDS 1.5 IN TWO YEARS.
FINANCIAL HIGHLIGHTS - CONTINUED STRONG PERFORMANCE:
· NET CASH GENERATION UP 16% TO £1,002M (2012: £865M)
· OPERATIONAL CASH GENERATION UP 9% TO £1,042M (2012: £958M)
· OPERATING PROFIT UP 7% TO £1,158M (2012: £1,087M)
· PROFIT BEFORE TAX UP 10% TO £1,134M (2012: £1,033M)
· PROFIT AFTER TAX UP 12% TO £896M (2012: £798M)
· EARNINGS PER SHARE UP 10% TO 15.20P (2012: 13.84P)
· RETURN ON EQUITY 16.1% (2012: 15.4%)
· FULL YEAR DIVIDEND UP 22% TO 9.30P PER SHARE (2012: 7.65P PER SHARE)
· NET CASH DIVIDEND COVER TOWARDS 1.5 IN TWO YEARS
L&G Prelims 2013 - Part 2
NET CASH UP 16% TO £1BN. DIVIDEND UP 22%.
NET CASH DIVIDEND COVER TOWARDS 1.5 IN TWO YEARS.
FINANCIAL HIGHLIGHTS - CONTINUED STRONG PERFORMANCE:
· NET CASH GENERATION UP 16% TO £1,002M (2012: £865M)
· OPERATIONAL CASH GENERATION UP 9% TO £1,042M (2012: £958M)
· OPERATING PROFIT UP 7% TO £1,158M (2012: £1,087M)
· PROFIT BEFORE TAX UP 10% TO £1,134M (2012: £1,033M)
· PROFIT AFTER TAX UP 12% TO £896M (2012: £798M)
· EARNINGS PER SHARE UP 10% TO 15.20P (2012: 13.84P)
· RETURN ON EQUITY 16.1% (2012: 15.4%)
· FULL YEAR DIVIDEND UP 22% TO 9.30P PER SHARE (2012: 7.65P PER SHARE)
· NET CASH DIVIDEND COVER TOWARDS 1.5 IN TWO YEARS
skinny
- 21 Mar 2014 15:53
- 169 of 204
On the 200ma.
skinny
- 23 Mar 2014 11:43
- 170 of 204
skinny
- 26 Mar 2014 08:01
- 171 of 204
Shortie - 26 Mar 2014 11:50 - 172 of 204
LONDON, March 26 (Reuters) - British life and pensions group Legal & General LGEN.L expects the size of the UK market for individual annuities to shrink by around three-quarters after 2015 when retirees will no longer be forced to buy them. The forecast, delivered in a speech to an investor conference in London on Wednesday by L&G Chief Executive Nigel Wilson follows a radical shakeup of the pensions system announced by finance minister George Osborne. L&G expects the market to shrink from 11.9 billion pounds ($19.64 billion) currently, to around 2.8 billion pounds. The reforms, due to be implemented in April next year, effectively scrap a system forcing most retirees to swap their pension savings for an annuity that pays out an income for life, giving them a choice in how they want to invest their savings. Wilson said L&G expects retirees to take more of their savings in cash and rely more on their property as a source of retirement income. "We certainly expect to see more cash being taken out, either singly for small pots or across several years, and we expect to see more use of the housing asset as pots get depleted more quickly," he said.
Shortie - 26 Mar 2014 12:33 - 173 of 204
Tempting to short..... only reason why I'm not is it would overexpose my portfolio right now.
skinny
- 26 Mar 2014 13:07
- 174 of 204
Wash your mouth out! :-)
Shortie - 26 Mar 2014 14:04 - 175 of 204
Hey ironically I also hold these as equities for the yield, bought years ago just after the crash for well under £1, my son also has some in his trust fund. That's a separate issue though to a potential short play, you must have considered it yourself as a hedge....
skinny
- 26 Mar 2014 14:08
- 176 of 204
Yes I did last week - not so sure now though.
Shortie - 26 Mar 2014 14:16 - 177 of 204
2hr chart above indicates there going down, we already know we're looking at a potential fall in earnings moving forward. They're only 10% of the 240p high, I'd expect these to fall to at least 192p.. There in my top 5 plays right now, just need that all telling reversal candel..
skinny
- 26 Mar 2014 14:47
- 178 of 204
I'll watch with interest! :-)
skinny
- 28 Mar 2014 13:14
- 179 of 204
Today's press statements on potential FCA review
Legal & General Group Plc - Response to today's press statements on potential FCA review
Legal & General notes media speculation about the FCA's potential review of the charging basis for legacy back books. We expect further, official clarification from the FCA when it publishes its business plan, and in view of today's disorderly market we are requesting that the FCA bring forward the publication of the plan.
We have a strong and substantive commitment to treating our customers fairly and offering low-charging, good value products.
Legal & General does not outsource customer administration: our customers benefit from the continuity of a single product and service provider. Our operating practices ensure we provide good value to our customers, and we have operated a programme of ongoing product reviews for more than 10 years. We focus on high standards in governance: management of our with profits fund is subject to independent scrutiny from the With Profits Actuary and the With Profits Independent Person.
We therefore look forward with confidence to working with the FCA once it issues official guidance about the potential review.
End
Legal & General Group Plc - Response to today's press statements on potential FCA review
Legal & General notes media speculation about the FCA's potential review of the charging basis for legacy back books. We expect further, official clarification from the FCA when it publishes its business plan, and in view of today's disorderly market we are requesting that the FCA bring forward the publication of the plan.
We have a strong and substantive commitment to treating our customers fairly and offering low-charging, good value products.
Legal & General does not outsource customer administration: our customers benefit from the continuity of a single product and service provider. Our operating practices ensure we provide good value to our customers, and we have operated a programme of ongoing product reviews for more than 10 years. We focus on high standards in governance: management of our with profits fund is subject to independent scrutiny from the With Profits Actuary and the With Profits Independent Person.
We therefore look forward with confidence to working with the FCA once it issues official guidance about the potential review.
End
mitzy - 28 Mar 2014 13:26 - 180 of 204
Its a sell down 7%.
Shortie - 28 Mar 2014 15:42 - 181 of 204
150p over the next few weeks wouldn't surprise me....
I shall now go and wash my mouth out before I get told off..
I shall now go and wash my mouth out before I get told off..
skinny
- 28 Mar 2014 16:01
- 182 of 204
:-)
A bit of a cockup with the way the announcement was presented 1st thing - marginally better after some clarification.
A bit of a cockup with the way the announcement was presented 1st thing - marginally better after some clarification.
skinny
- 07 May 2014 07:03
- 183 of 204
1st Quarter Results 2014
LEGAL & GENERAL: NET CASH UP 21% WITH RECORD SALES
GROUP HIGHLIGHTS:
• NET CASH GENERATION UP 21% TO £301M (Q1 2013: £249M)
• OPERATIONAL CASH GENERATION UP 6% TO £297M (Q1 2013: £281M)
BUSINESS HIGHLIGHTS:
• RECORD BULK PURCHASE ANNUITY PREMIUMS OF £3,045M (Q1 2013: £357M)
• ANNUITY ASSETS UP 15% TO £38.3BN (Q1 2013: £33.3BN)
• LGIM TOTAL AUM UP 5% TO £462.6BN (Q1 2013: £441.2BN)
• LGIM INTERNATIONAL AUM UP 21% TO £63.2BN (Q1 2013: £52.4BN)
• LGIM NET FLOWS OF £3.8BN (Q1 2013: £4.7BN)
• UK RETAIL PROTECTION SALES UP 56% TO £42M (Q1 2013: £27M)
• WORKPLACE AUA UP 32% TO £9.1BN (Q1 2013 £6.9BN)
• COFUNDS AUA UP 25% TO £65.6BN (Q1 2013 £52.3BN)
• US PROTECTION SALES UP 12% TO $38M (Q1 2013: $34M)
• £1.0BN OF DIRECT INVESTMENTS COMPLETED IN Q1
LEGAL & GENERAL: NET CASH UP 21% WITH RECORD SALES
GROUP HIGHLIGHTS:
• NET CASH GENERATION UP 21% TO £301M (Q1 2013: £249M)
• OPERATIONAL CASH GENERATION UP 6% TO £297M (Q1 2013: £281M)
BUSINESS HIGHLIGHTS:
• RECORD BULK PURCHASE ANNUITY PREMIUMS OF £3,045M (Q1 2013: £357M)
• ANNUITY ASSETS UP 15% TO £38.3BN (Q1 2013: £33.3BN)
• LGIM TOTAL AUM UP 5% TO £462.6BN (Q1 2013: £441.2BN)
• LGIM INTERNATIONAL AUM UP 21% TO £63.2BN (Q1 2013: £52.4BN)
• LGIM NET FLOWS OF £3.8BN (Q1 2013: £4.7BN)
• UK RETAIL PROTECTION SALES UP 56% TO £42M (Q1 2013: £27M)
• WORKPLACE AUA UP 32% TO £9.1BN (Q1 2013 £6.9BN)
• COFUNDS AUA UP 25% TO £65.6BN (Q1 2013 £52.3BN)
• US PROTECTION SALES UP 12% TO $38M (Q1 2013: $34M)
• £1.0BN OF DIRECT INVESTMENTS COMPLETED IN Q1
skinny
- 08 May 2014 07:23
- 184 of 204
Deutsche Bank Buy 220.00 220.00 236.00 239.00 Retains
Barclays Capital Overweight 220.70 220.00 - 252.00 Reiterates
Barclays Capital Overweight 220.70 220.00 - 252.00 Reiterates
skinny
- 20 May 2014 07:28
- 185 of 204
LEGAL & GENERAL COMPLETES ACQUISITION OF GIA BUSINESS - ADVISER ON $21BN OF ASSETS.
Legal & General Group Plc ("Legal & General") has today completed the acquisition of the business of Global Index Advisors, Inc ("GIA") following receipt of fund shareholder approval from the $16.0bn1 Wells Fargo Advantage Dow Jones Target Date Funds.
We have also received approval to advise a further $5.5bn1 of GIA's assets. This increases the assets included within the transaction to $21.5bn1 and primarily accounts for the increase in assets compared to the $15.6bn announced on 21 February 2014.
GIA was formed in 1994 to create and market index target date fund products in the US and is now a top 52 provider of these funds in the US. The target date fund market in the US is expected to double by 2017.
Legal & General has identified the international expansion of Legal & General Investment Management ("LGIM") as one of its five growth themes. This acquisition will provide scale and distribution in the $6 trillion US defined contribution ("DC") market3 as we build on LGIMA's existing Liability Driven Investment ("LDI") and active fixed income capabilities. LGIM's proforma international assets at 31 March 2014 have increased as a result of the acquisition from $106.8bn1 to $128.3bn1 underlining our strategic commitment to become a global provider of investment solutions.
The initial consideration of the transaction is $30.75m with deferred consideration of $1.5m payable over the period of 2 years from the date of completion and further payments of up to a maximum of $18.15m payable over 3 years from the date of completion, subject to performance and other conditions being met. The consideration is unchanged from our announcement on 21 February 2014.
Mark Zinkula, Chief Executive Officer, Legal & General Investment Management said:
"I'm delighted the acquisition has been completed and welcome Jim Lauder and his team to LGIM. This transaction now means LGIMA's proforma assets exceed $60bn1, placing us in an excellent position to grow our DC assets in the US market and accelerating LGIM's already strong international growth."
Legal & General Group Plc ("Legal & General") has today completed the acquisition of the business of Global Index Advisors, Inc ("GIA") following receipt of fund shareholder approval from the $16.0bn1 Wells Fargo Advantage Dow Jones Target Date Funds.
We have also received approval to advise a further $5.5bn1 of GIA's assets. This increases the assets included within the transaction to $21.5bn1 and primarily accounts for the increase in assets compared to the $15.6bn announced on 21 February 2014.
GIA was formed in 1994 to create and market index target date fund products in the US and is now a top 52 provider of these funds in the US. The target date fund market in the US is expected to double by 2017.
Legal & General has identified the international expansion of Legal & General Investment Management ("LGIM") as one of its five growth themes. This acquisition will provide scale and distribution in the $6 trillion US defined contribution ("DC") market3 as we build on LGIMA's existing Liability Driven Investment ("LDI") and active fixed income capabilities. LGIM's proforma international assets at 31 March 2014 have increased as a result of the acquisition from $106.8bn1 to $128.3bn1 underlining our strategic commitment to become a global provider of investment solutions.
The initial consideration of the transaction is $30.75m with deferred consideration of $1.5m payable over the period of 2 years from the date of completion and further payments of up to a maximum of $18.15m payable over 3 years from the date of completion, subject to performance and other conditions being met. The consideration is unchanged from our announcement on 21 February 2014.
Mark Zinkula, Chief Executive Officer, Legal & General Investment Management said:
"I'm delighted the acquisition has been completed and welcome Jim Lauder and his team to LGIM. This transaction now means LGIMA's proforma assets exceed $60bn1, placing us in an excellent position to grow our DC assets in the US market and accelerating LGIM's already strong international growth."
skinny
- 29 May 2014 11:20
- 186 of 204
Berenberg Buy 230.80 229.30 250.00 265.00 Retains
skinny
- 06 Aug 2014 07:04
- 187 of 204
L&G H1 2014 Results Part 1
DIVIDENDS UP 21%, NET CASH UP 13%
FINANCIAL HIGHLIGHTS:
· NET CASH GENERATION UP 13% TO £567M (H1 2013: £500M)
· OPERATIONAL CASH GENERATION UP 8% TO £578M (H1 2013: £537M)
· OPERATING PROFIT UP 11% TO £636M (H1 2013: £571M)
· PROFIT AFTER TAX UP 9% TO £507M (H1 2013: £466M)
· EARNINGS PER SHARE UP 9% TO 8.51P (H1 2013: 7.82P)
· RETURN ON EQUITY 17.6% (H1 2013: 16.8%)
· INTERIM DIVIDEND UP 21% TO 2.90P PER SHARE (H1 2013: 2.40P)
BUSINESS HIGHLIGHTS:
· ANNUITY ASSETS UP 20% TO £38.5BN (H1 2013: £32.2BN)
· RECORD ANNUITY SALES OF £3.5BN (H1 2013: £1.4BN)
· LGIM AUM UP 7% TO £465.1BN (H1 2013: £433.0BN)
· LGIM TOTAL ASSETS1 UP 13% TO £653.7BN (H1 2013: £578.7BN)
· UK PROTECTION GWP UP 7% TO £743M (H1 2013: £692M)
· UK PROTECTION SALES UP 17% TO £123M (H1 2013: £105M)
· SAVINGS AUA UP 17% TO £117.8BN (H1 2013: £100.4BN)
· LGC NEW DIRECT INVESTMENT OF £1.6BN (H1 2013: £0.9BN)
· LGA SALES UP 11% TO $78M (H1 2013: $70M)
DIVIDENDS UP 21%, NET CASH UP 13%
FINANCIAL HIGHLIGHTS:
· NET CASH GENERATION UP 13% TO £567M (H1 2013: £500M)
· OPERATIONAL CASH GENERATION UP 8% TO £578M (H1 2013: £537M)
· OPERATING PROFIT UP 11% TO £636M (H1 2013: £571M)
· PROFIT AFTER TAX UP 9% TO £507M (H1 2013: £466M)
· EARNINGS PER SHARE UP 9% TO 8.51P (H1 2013: 7.82P)
· RETURN ON EQUITY 17.6% (H1 2013: 16.8%)
· INTERIM DIVIDEND UP 21% TO 2.90P PER SHARE (H1 2013: 2.40P)
BUSINESS HIGHLIGHTS:
· ANNUITY ASSETS UP 20% TO £38.5BN (H1 2013: £32.2BN)
· RECORD ANNUITY SALES OF £3.5BN (H1 2013: £1.4BN)
· LGIM AUM UP 7% TO £465.1BN (H1 2013: £433.0BN)
· LGIM TOTAL ASSETS1 UP 13% TO £653.7BN (H1 2013: £578.7BN)
· UK PROTECTION GWP UP 7% TO £743M (H1 2013: £692M)
· UK PROTECTION SALES UP 17% TO £123M (H1 2013: £105M)
· SAVINGS AUA UP 17% TO £117.8BN (H1 2013: £100.4BN)
· LGC NEW DIRECT INVESTMENT OF £1.6BN (H1 2013: £0.9BN)
· LGA SALES UP 11% TO $78M (H1 2013: $70M)
skinny
- 08 Sep 2014 07:03
- 188 of 204
Deutsche Bank Buy 241.75 241.70 239.00 260.00 Retains
skinny
- 23 Sep 2014 06:55
- 189 of 204
Goldman Sachs Neutral 238.40 238.40 220.00 235.00 Reiterates
skinny
- 04 Nov 2014 07:03
- 190 of 204
Interim Management Statement
GROWTH IN ALL DIVISIONS. NET CASH UP 12%.
GROUP HIGHLIGHTS:
· OPERATIONAL CASH UP 8% TO £844M (Q3 YTD 2013: £780M)
· NET CASH UP 12% TO £827M (Q3 YTD 2013: £740M)
BUSINESS HIGHLIGHTS:
· ANNUITY ASSETS UP 16% TO £39.9BN (Q3 2013: £34.5BN)
· LGIM TOTAL ASSETS UP 14% TO £676.3BN (Q3 2013: £594.0BN)
· UK PROTECTION PREMIUM UP 6% TO £1,077M (Q3 YTD 2013: £1,016M)
· SAVINGS AUA UP 13% TO £119.7BN (Q3 2013: £106.2BN)
· LGC DIRECT INVESTMENTS INCREASED TO £4.6BN (Q3 2013: £2.1BN)
· LGA PREMIUM UP 10% TO $824M (Q3 YTD 2013: $746M)
GROWTH IN ALL DIVISIONS. NET CASH UP 12%.
GROUP HIGHLIGHTS:
· OPERATIONAL CASH UP 8% TO £844M (Q3 YTD 2013: £780M)
· NET CASH UP 12% TO £827M (Q3 YTD 2013: £740M)
BUSINESS HIGHLIGHTS:
· ANNUITY ASSETS UP 16% TO £39.9BN (Q3 2013: £34.5BN)
· LGIM TOTAL ASSETS UP 14% TO £676.3BN (Q3 2013: £594.0BN)
· UK PROTECTION PREMIUM UP 6% TO £1,077M (Q3 YTD 2013: £1,016M)
· SAVINGS AUA UP 13% TO £119.7BN (Q3 2013: £106.2BN)
· LGC DIRECT INVESTMENTS INCREASED TO £4.6BN (Q3 2013: £2.1BN)
· LGA PREMIUM UP 10% TO $824M (Q3 YTD 2013: $746M)
skinny
- 17 Nov 2014 07:30
- 191 of 204
Credit Suisse Neutral 243.40 250.00 265.00 Retains
HARRYCAT
- 27 Nov 2014 09:07
- 192 of 204
StockMarketWire.com
Legal & General Group has won a bulk annuity contract with the TRW Pension Scheme removing £2.5 billion liabilities from TRW Automotive's balance sheet and insuring over 22,000 of the scheme's pensioners.
The scheme previously implemented a liability driven investment strategy with Legal & General Investment Management in 2007.
This £2.5 billion transaction follows the £3.0 billion bulk annuity contract with the ICI Pension Fund that Legal & General secured earlier this year, reinforcing Legal & General's position as the leading insurer in tailored pension de-risking solutions for large pension schemes.
Legal & General has now written £8.3 billion of total annuity transactions to date in 2014. Our Q3 Interim Management Statement on 4 November 2014 stated, at that time, we had secured £0.8 billion of bulk premium in the fourth quarter. This £0.8 billion very largely represented the initial tranches of the TRW transaction. Legal & General Retirement managing director Kerrigan Procter said: "We have worked with the TRW Pension Scheme over many years as they moved from Index Funds to Liability Driven Investment and now to buyout, all with Legal & General. It has been a pleasure to build such a great relationship and be in a position to help our client move all the way along their de-risking journey.
"2014 has been a landmark year in the pension de-risking market with the two largest bulk annuity transactions in the UK, both with Legal & General. These demonstrate the strength of Legal & General's tailored pension de-risking solutions."
Legal & General Group has won a bulk annuity contract with the TRW Pension Scheme removing £2.5 billion liabilities from TRW Automotive's balance sheet and insuring over 22,000 of the scheme's pensioners.
The scheme previously implemented a liability driven investment strategy with Legal & General Investment Management in 2007.
This £2.5 billion transaction follows the £3.0 billion bulk annuity contract with the ICI Pension Fund that Legal & General secured earlier this year, reinforcing Legal & General's position as the leading insurer in tailored pension de-risking solutions for large pension schemes.
Legal & General has now written £8.3 billion of total annuity transactions to date in 2014. Our Q3 Interim Management Statement on 4 November 2014 stated, at that time, we had secured £0.8 billion of bulk premium in the fourth quarter. This £0.8 billion very largely represented the initial tranches of the TRW transaction. Legal & General Retirement managing director Kerrigan Procter said: "We have worked with the TRW Pension Scheme over many years as they moved from Index Funds to Liability Driven Investment and now to buyout, all with Legal & General. It has been a pleasure to build such a great relationship and be in a position to help our client move all the way along their de-risking journey.
"2014 has been a landmark year in the pension de-risking market with the two largest bulk annuity transactions in the UK, both with Legal & General. These demonstrate the strength of Legal & General's tailored pension de-risking solutions."
skinny
- 02 Dec 2014 16:07
- 193 of 204
New high today @248.60p.
skinny
- 16 Dec 2014 07:28
- 194 of 204
Some nice TP hikes in the last few days :-
16 Dec 14 Deutsche Bank Buy 231.50 260.00 270.00 Retains
15 Dec 14 Citigroup Neutral 231.50 220.00 264.00 Retains
11 Dec 14 Nomura Buy 231.50 225.00 300.00 Upgrades
16 Dec 14 Deutsche Bank Buy 231.50 260.00 270.00 Retains
15 Dec 14 Citigroup Neutral 231.50 220.00 264.00 Retains
11 Dec 14 Nomura Buy 231.50 225.00 300.00 Upgrades
skinny
- 23 Dec 2014 12:28
- 195 of 204
New high today @248.90p.
skinny
- 07 Jan 2015 07:20
- 196 of 204
Berenberg Buy 238.60 238.60 265.00 290.00 Retains
skinny
- 19 Jan 2015 10:10
- 197 of 204
New high today @252.90p.
midknight
- 19 Jan 2015 10:36
- 198 of 204
This guy seems to think L&G may currently be the cat's whiskers!
skinny
- 19 Jan 2015 10:40
- 199 of 204
He seems eminently sensible :-)
I'm up +150% on the my sipped shares - Prelims on 04 Mar 2015.
I'm up +150% on the my sipped shares - Prelims on 04 Mar 2015.
midknight
- 19 Jan 2015 11:47
- 200 of 204
Skinny, I agree with both of you. I notice none of the LGEN threads has a chart and
this one's header is also dated. If you have the time and inclination,
could you start a new thread with a chart, please.
this one's header is also dated. If you have the time and inclination,
could you start a new thread with a chart, please.
skinny
- 19 Jan 2015 11:53
- 201 of 204
I can do or we could just get Ian to put a chart in the header here?
midknight
- 19 Jan 2015 11:56
- 202 of 204
Yes, but the header here is ridiculous imo.
skinny
- 19 Jan 2015 11:57
- 203 of 204
Ok.
skinny
- 19 Jan 2015 12:04
- 204 of 204
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