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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)

How dare they cut their TP!

Yeah.. the peasants -):

What a good decision IMHO http://www.moneyam.com/action/news/showArticle?id=5193694

Mark Gregory announces his intention to retire from Legal & General

Broker Forecast - Berenberg issues a broker note on Legal & General Group PLC

Berenberg today reaffirms its under review investment rating on Legal & General Group PLC (LON:LGEN) and cut its price target to 276p (from 310p).

Story provided by StockMarketWire.com

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So what the yearly high is 296p

The best of the insurers today @+6.7%.

Barclays Capital Overweight 224.70 298.00 298.00 Reiterates

Yes Skinny LG have been very good to me today.. get the "strength of the Insurance companies around you" -):

Stan - I paid just under a quid for these so the recent fall has been painful - but still up 125% plus dividends :-)

Yes them and the Grid are probably two of the best outfits to invest and trade in.

Agreed Stan.

L&G Full Year Results 2015 Part 1

NET CASH UP 14%, ROE1 17.7%, DIVIDENDS UP 19%

FINANCIAL HIGHLIGHTS:

· NET CASH GENERATION UP 14% TO £1,256M (2014: £1,104M)
· OPERATING PROFIT UP 14% TO £1,455M (2014: £1,275M)
· PROFIT AFTER TAX UP 10% TO £1,094M (2014: £992M)
· ADJUSTED EARNINGS PER SHARE2 UP 11% TO 18.58P (2014: 16.70P)
· FULL YEAR DIVIDEND UP 19% TO 13.40P PER SHARE (2014: 11.25P)
· SOLVENCY II SURPLUS3 OF £5.5BN: COVERAGE RATIO OF 169%
· ECONOMIC CAPITAL SURPLUS OF £7.6BN: COVERAGE RATIO OF 230%

BUSINESS HIGHLIGHTS:

· LGIM AUM UP 8% TO £746.1BN (2014: £693.7BN)
· LGIM EXTERNAL AUM NET FLOWS OF £37.7BN (2014: £7.5BN)
· LGR NEW BUSINESS OF £2.9BN (2014: £6.6BN)
· GROUP-WIDE DIRECT INVESTMENTS UP 22% TO £7.0BN (2014: £5.7BN)
· UK RETAIL PROTECTION PREMIUMS UP 5% TO £1,112M (2014: £1,056M)
· LGA PREMIUMS UP 6% TO $1,183M (2014: $1,117M)

Panmure Gordon Buy 232.45 305.00 305.00 Reiterates

JP Morgan Cazenove Underweight 236.20 206.00 216.00 Reiterates

StockMarketWire.com
Insurance group Legal & General (LON:LGEN) has been downgraded to an equal weight rating (from overweight) by Barclays Capital, with the broker cutting its price target for the stock to 200 pence per share (from 298 pence).

"We are downgrading Legal & General to EW on valuation. We are increasing our cost of equity by 300bps for Legal & General and its UK life insurance peers reflecting the increased uncertainty surrounding the UK economy and the likelihood of a recession in H1 2016 and 2017."

Meanwhile, Deutsche Bank downgraded its investment rating to hold (from buy) and cut its target price to 215 pence (from 298 pence), which it said was due to the company's exposure to current UK macro uncertainty.

I bought in at 179. Not sure if I'm going to trade or hold. Happy to hold as I like the dividend but things are going to be volatile for a while

StockMarketWire.com
Legal & General Group reports strong new business sales for its retirement division in the first half of this year, with minimal disruption caused by uncertainties over the EU referendum.

New bulk annuity transactions totalling c.£250m were executed in June.

Following the £2.9bn Aegon back-book transaction in May, this brings bulk annuity business executed in H1 2016 to £3.6bn, over £1bn ahead of the full year bulk annuity sales figure of £2.4bn for 2015.



Lifetime mortgage sales have exceeded £200m in H1 2016 meaning these too have surpassed the full year comparator for 2015, as well as being greater than our individual annuity sales in H1 2016.

Legal & General Retirement sales across bulk annuities, individual annuities and lifetime mortgages of £4bn have been achieved in H1 2016.

Managing director of Legal & General Retirement, Kerrigan Procter, said: "Political and market uncertainty around the EU Referendum did not get in the way of business, as companies or individuals will always need to manage their employees' or own retirement. Bulk annuity transactions continue to be an important way for Legal & General to deploy capital to help our UK clients, and use the premiums to invest in real assets such as UK infrastructure and direct lending."

Legal & General Retirement now provides more lifetime mortgages to its customers than individual annuities. We expect this trend to accelerate as more baby boomers retire and choose to access their housing wealth to help fund their retirement, instead of buying an individual annuity.

CEO of Legal & General Home Finance, Bernie Hickman, added: "Legal & General entered the lifetime mortgage market last year. Our lowest interest rate on lifetime mortgages is now below 5%, and we have recently been awarded Lifetime Mortgage Lender of the year. We have seen rapid growth, and within a year of entering the lifetime mortgage market, now provide more lifetime mortgages to our customers than individual annuities. Individual annuities still have their place, but customers want more choice in how they fund their retirement, with accessing housing wealth being an attractive option for asset rich, income poor retirees."

Panmure Gordon Buy 211.35 305.00 305.00 Reiterates

On these from 188.

They don't like the results today. Interim dividend up nicely so I'm sticking around for the yield

CC
Also holding.