Legal & General Group (LGEN)

Sector:

Insurance

Index:

FTSE 100

254.40p
   
  • Change Today:
    -1.10p
  • 52 Week High: 256.30
  • 52 Week Low: 205.80
  • Currency: UK Pounds
  • Shares Issued: 5,980m
  • Volume: 11,918,156
  • Market Cap: £15,212m
  • RiskGrade: 166

Legal & General announces debt issuance

By Iain Gilbert

Date: Tuesday 19 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Financial services group Legal & General said it would launch a debt issue in order to take advantage of current favourable market conditions.
With the bulk annuity market continuing to grow, L&G expects to launch an £11.5bn bond "shortly". L&G transacted £8.5bn in bulk annuity deals in the year ended 31 October and said it was in exclusive negotiations on a further £3bn that it expected to complete before year-end.

L&G had already struck a £4.6bn bulk annuity deal with Rolls-Royce UK's pension fund in June.

Elsewhere, L&G's retail and retirement business achieved individual annuity sales of £829m, up 34% year-on-year, while LGIM, the group's investment management arm, achieved external net flows of £83bn.

Chief executive Nigel Wilson said: "Our business continues to go from strength to strength. Our year-to-date operating performance across all five of our divisions is good reflecting the strong execution of our stated strategy.

"We remain disciplined in our deployment of capital, and our balance sheet and net cash flow are strong. We are taking advantage of favourable market conditions to raise debt and remain confident in Legal & General's ability to grow sustainable profits over the long-term."

As of 1040 GMT, Legal & General shares had inched ahead 0.39% to 281.80p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Legal and General Market Data

Currency UK Pounds
Share Price 254.40p
Change Today -1.10p
% Change -0.43 %
52 Week High 256.30
52 Week Low 205.80
Volume 11,918,156
Shares Issued 5,980m
Market Cap £15,212m
RiskGrade 166

Legal and General Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.86% above the market average83.86% above the market average83.86% above the market average83.86% above the market average83.86% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Price Trend
52.91% above the market average52.91% above the market average52.91% above the market average52.91% above the market average52.91% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Income
84.11% above the market average84.11% above the market average84.11% above the market average84.11% above the market average84.11% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Growth
97.87% below the market average97.87% below the market average97.87% below the market average97.87% below the market average97.87% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 6
Neutral 6
Sell 1
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Legal and General Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 24-Aug-23
Paid 06-Jun-24 26-Sep-23
Amount 14.63p 5.71p

Trades for 28-Mar-2024

Time Volume / Share Price
16:42 40,508 @ 254.40p
16:35 6,182,605 @ 254.40p
16:35 25,557 @ 254.40p
16:35 1,888 @ 254.40p
16:35 12,115 @ 254.40p

Legal and General Key Personnel

Chair John Kingman
CFO Jeff Davies

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