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Key facts

Legal & General is a leading UK-based financial services business, with over 10 million customers across the world.
We deliver financial solutions and services that help people to plan for their future. Our businesses help people achieve financial security by building retirement income, protecting their homes and families and enabling them to save for the future. We aim to be socially and economically useful in society, working closely with government, industry bodies and charities to help people have good housing, live healthy lives and enjoy good levels of income in retirement.

This is our social purpose: we understand people’s financial needs, pool risk and help society by reducing the pressure on public finances.

Company Website

Financial Calendar

Recent Broker notes

BarChart Indicators

Recent Market news

Legal & General's Fundamentals (LGEN)

New high touched @290.30p

Ah, Deutsche can relax!

March 17: JP Morgan Cazenove reiterates Underweight but ups TP from 212p to 220p.

Mar 19: Societe Generale: Sell - TP: 185p

Momentum shares

Disturbing story

Mar 24: Canaccord: Hold - TP: 290p

Jefferies International Buy 284.10 284.10 282.00 323.00 Reiterates

L&G paid CEO £4.2m last year

anyone in the know why sp down by 3%+ today?

Beacause it's gone ex-dividend today.

think i'll put a plastic bag over my head so nobody recognizes me......

Apr 24: JP Morgan: Underweight - TP: 220p

Q1 2015 IMS

LEGAL & GENERAL: RECORD CASH GENERATION

GROUP HIGHLIGHTS:

· OPERATIONAL CASH GENERATION UP 11% TO £330M (Q1 2014: £297M)

· NET CASH GENERATION UP 8% TO £326M (Q1 2014: £301M)


BUSINESS HIGHLIGHTS:

· LGIM TOTAL ASSETS UP 17% TO £736.8BN (Q1 2014: £630.9BN)

· ANNUITY ASSETS UP 19% TO £45.6BN (Q1 2014: £38.3BN)

· BULK PURCHASE ANNUITY PREMIUMS OF £655M (Q1 2014: £3,045M)

· UK PROTECTION PREMIUM UP 5% TO £372M (Q1 2014: £353M)

· DIGITAL SAVINGS ASSETS UP 16% TO £84.2BN (Q1 2014: £72.5BN)

· GROUP WIDE DIRECT INVESTMENT UP 62% TO £6.3BN (Q1 2014: £3.9BN)

June 29: Credit Suisse: Neutral - TP: 285p

July 10: Barclays Capital reiterates overweight on Legal & General, target raised from 285p to 289p

L&G Half-year results 2015 Part 1

OPERATING PROFIT UP 18%, NET CASH UP 11%, ROE1 19%

FINANCIAL HIGHLIGHTS:

· NET CASH GENERATION UP 11% TO £629M (H1 2014: £567M)
· OPERATIONAL CASH GENERATION UP 8% TO £624M (H1 2014: £578M)
· OPERATING PROFIT UP 18% TO £750M (H1 2014: £636M)
· PROFIT AFTER TAX UP 8% TO £547M (H1 2014: £507M)
· EARNINGS PER SHARE UP 7% TO 9.11P (H1 2014: 8.51P)
· ADJUSTED EARNINGS PER SHARE2 UP 15% TO 9.79P (H1 2014: 8.51P)
· RETURN ON EQUITY1 19.1% (H1 2014: 17.6%)
· INTERIM DIVIDEND UP 19% TO 3.45P PER SHARE (H1 2014: 2.90P)

BUSINESS HIGHLIGHTS:

· LGIM AUM UP 12% TO £714.6BN (H1 2014: £640.0BN)
· LGIM EXTERNAL NET FLOWS UP 62% TO £13.8BN (H1 2014: £8.5BN)
· ANNUITY ASSETS UP 13% TO £43.4BN (H1 2014: £38.5BN)
· BULK PURCHASE ANNUITY PREMIUMS OF £1,146M (H1 2014: £3,135M)
· UK PROTECTION PREMIUMS UP 4% TO £774M (H1 2014: £743M)
· DIRECT INVESTMENTS UP 35% TO £6.2BN (H1 2014: £4.6BN)

Berenberg Buy 270.70 270.70 290.00 310.00 Reiterates

Jefferies International Buy 250.00 245.40 288.00 301.00 Reiterates

StockMarketWire.com
Legal & General America has entered into an agreement with the US subsidiary of Royal Philips to provide retirement payments under a group annuity contract to approximately 14,000 of Philips' US retirees and other former employees, which will reduce the firm's pension obligations upon the closing of the contract in early December.

The transfer by Philips of approximately $900 million of current retiree pension obligations is being split between Legal & General America and The Prudential Insurance Company of America, with each insurer providing 50% of the total monthly benefits to Philips' retirees.

Furthermore, American United Life Insurance Company, a OneAmerica company, will be issuing annuities to plan participants who had not yet retired by May 2015, bringing the total transaction between the three insurance companies to $1.1bn and covering a total of 17,000 plan participants.

Nigel Wilson, Group CEO, Legal & General said: "We are very pleased to have signed an agreement with Philips for our first US pension group annuity contract. The US is a key market for Legal & General. We have a successful US life assurance business, are rapidly growing our investment management business, and have now entered the US pension risk transfer market. We are a leader in these markets in the UK, and plan to be a major participant in them in the US."

Interesting move by LG, does anyone know of previous track records of UK insurance outfits venturing into the States? As retail ventures have proven lousy in the past I remember.. Tesco comes to mind.