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Prices & Quotes - UK Markets - Legal & General Group (LGEN)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 287.00p
Change Today:
-13.80p
Market Cap:
17,121m
Sector:
Life Insurance

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.

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

 

LGEN Market Data

Currency UK Pounds
Price 287.00p
Change Today -13.80p
52 Week High 318.40p
52 Week Low 216.70p
Volume 16,210,846
Shares Issued 5,965m
Market Cap 17,121m

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 6
Sell 1
Strong Sell 3
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LGEN Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Aug-19 25-Apr-19
Paid 26-Sep-19 06-Jun-19
Amount 4.93p 11.82p

Trades for 25-Feb-2020

Time Volume / Share Price
16:35 5,518,202 @ 287.00p
16:33 1,500 @ 287.00p
16:29 1,635 @ 286.60p
16:29 272 @ 286.60p
16:29 643 @ 286.50p

LGEN Key Personnel

Chair John Kingman
CFO Jeff Davies
CEO Michelle Scrimgeour