Legal & General Group (LGEN)

Sector:

Insurance

Index:

FTSE 100

253.60p
   
  • Change Today:
    -1.90p
  • 52 Week High: 256.30
  • 52 Week Low: 205.80
  • Currency: UK Pounds
  • Shares Issued: 5,980m
  • Volume: 3,162,984
  • Market Cap: £15,164m
  • RiskGrade: 166

L&G to tap debt market after strong quarter

By Sean Farrell

Date: Friday 24 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Legal & General said it would issue debt to take advantage of business opportunities after reporting strong trading in the first three months of 2020.
The life insurer said business in the three months to the end of March was broadly in line with 2019. All its businesses grew apart from its early-stage investment operation, which was hit by a halt to housebuilding.

L&G said it intended to issue debt to capitalise on low interest rates to raise funds for business growth. It did not say how much debt it would issue.

The FTSE 100 company bucked the trend for insurers cancelling dividends by saying in early April it would press ahead with its final payout for 2019. It did so despite the Bank of England making it clear it wanted insurance dividends cancelled during the Covid-19 crisis.

In Friday's trading update L&G did not mention its dividend but it stressed the strength of its business and its contribution to wider society.

L&G said it paid 96% of life insurance and critical illness claims in the first quarter - the same level as in 2019. It also said it had kept all its employees on at full pay and was speeding up its ?20m sponsorship of Edinburgh university's research into elderly care. It is offering free accommodation for health service workers at build to rent sites.

Chief Executive Nigel Wilson said: "Legal & General's outstanding frontline staff have continued to help provide more certainty for our millions of insurance and pension customers who we recognise are often under pressure as a result of Covid-19. Our business remains robust and is performing broadly in line with the prior year despite tremendous volatility and disruption. Our current strength underpins our future focus."



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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 253.60p
Change Today -1.90p
% Change -0.74 %
52 Week High 256.30
52 Week Low 205.80
Volume 3,162,984
Shares Issued 5,980m
Market Cap £15,164m
RiskGrade 166

Legal and General Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.08% above the market average84.08% above the market average84.08% above the market average84.08% above the market average84.08% 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
54.86% above the market average54.86% above the market average54.86% above the market average54.86% above the market average54.86% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Income
83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average83.84% 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
12:55 2,000 @ 253.60p
12:55 2 @ 253.70p
12:55 645 @ 253.60p
12:55 3,267 @ 253.70p
12:54 1 @ 253.80p

Legal and General Key Personnel

Chair John Kingman
CFO Jeff Davies

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