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  2. Share Prices
  3. Legal & General Share Price
  4. Legal & General Share News
  5. Deutsche Bank reviews UK life assurers; notes uncertain outlook

Pin to quick picksLegal & General Share News (LGEN)

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Share Price Information for Legal & General (LGEN)

London Stock Exchange
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Share Price: 246.60
Bid: 247.10
Ask: 247.30
Change: 5.70 (2.37%)
Spread: 0.20 (0.081%)
Open: 245.60
High: 248.10
Low: 244.00
Prev. Close: 240.90
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Deutsche Bank reviews UK life assurers; notes uncertain outlook

Mon, 11th Jan 2016 12:07

(ShareCast News) - Deutsche Bank adjusted its ratings on London-listed life assurers as it took a look at the UK sector, saying the outlook was uncertain on a number of fronts.The bank said most UK life assurers continue to offer the potential for structural long-term growth with attractive dividend yields, but their share prices are currently wading through a morass of uncertainty.Arguably the biggest question mark is the outlook for world markets, which have historically been one of the key drivers of the segment, DB said.Other issues include Solvency II, which it thinks will prove less negative than is perhaps perceived, UK pension reform and 'Bexit' concerns.Near-term, Deutsche expects these issues to remain a drag on performance - at least relative to European peers - with the potential for some volatility as sentiment swings back and forth.It downgraded Prudential to 'hold' from 'buy', saying it faced the greatest amount of uncertainty, especially where slowing Asian growth and exposure to US credit markets was concerned."These have dominated the share price so far in 2016, but a deeper, more structural issue is that the US (40% of earnings) is also losing momentum - with net inflows set to slow to 3% by 2018."The bank sees both St James's Place and Standard Life as strongly positioned and said they are likely to show the best underlying growth of the companies it analyses.However, DB noted that their performances have diverged greatly, with St James's Place outperforming Standard Life by nearly 30% over the last year."UK pension reform and nervous equity markets are potential risks for both, but we think the risk is higher on both fronts at SJP - with a greater proportion of higher earners amongst its customers and estimated gearing of 1.2x to equity markets (vs Standard Life at 0.3x-0.4x on our estimates)," it said.It added that with SJP trading on 22x estimated 2017 earnings versus Standard Life at 12x, the latter offers the better risk-reward.It upgraded Standard Life to 'buy' from 'hold' and downgraded SJP to 'hold' from 'buy'.The bank kept its 'buy' rating on both Aviva and Legal & General.At 1215 GMT, Prudential was down 0.2% to 1,373.50p, St James's Place was down 1% to 912p and Standard Life was up 1.5% to 368.40p.
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11 Jul 2023 10:08

Britain's 50-billion pound pensions gamble could put savers in fresh peril

LONDON, July 11 (Reuters) - Britain's financial services industry has broadly cheered fresh government proposals to jumpstart the economy by channelling 50 billion pounds ($64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said.

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10 Jul 2023 18:00

UK pension funds back next phase of post-Brexit City shake up

Private pensions pledge up to 50 billion pounds

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Hunt to outline "evolutionary" pension funds investment reforms for UK

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5 Jul 2023 12:07

LONDON MARKET MIDDAY: Stocks down; eyes on China slowdown, Fed minutes

(Alliance News) - Stock prices in London were lower at midday on Wednesday amid a solidly risk-off mood following a slew of weak economic data, including from the world's second-largest economy.

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5 Jul 2023 10:22

Legal & General confirms five-year targets

(Sharecast News) - Legal & General Group reiterated its five-year growth targets on Wednesday, as it confirmed that recently introduced accountancy changes would not have any impact.

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5 Jul 2023 09:00

LONDON MARKET OPEN: Stocks head lower before Fed minutes

(Alliance News) - Stock prices in London opened in the red on Wednesday, amid fears of slowing growth in China, and escalating tension between the two world's largest economies.

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5 Jul 2023 08:22

TOP NEWS: Legal & General says on track to achieve five-year plan

(Alliance News) - Legal & General Group PLC on Wednesday set out a confident outlook and said it enjoyed a busy first-half of pension risk transfer dealings.

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5 Jul 2023 07:59

LONDON BRIEFING: L&G confident; Supreme wins "significant" vaping pact

(Alliance News) - Stocks in London are expected to open lower on Wednesday, as investors assess weaker Chinese economic data, and look ahead to the release of the latest US Federal Reserve meeting minutes.

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30 Jun 2023 10:59

UK life insurers' exposure to Thames Water is 'minimal', Citi says

(Sharecast News) - Analysts at Citi pointed out on Thursday that the UK life insurance sector's direct exposure to Thames Water was "minimal".

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20 Jun 2023 08:33

Lab crunch: British science has nowhere to go

OXFORD, England, June 20 (Reuters) - For Ros Deegan, the thrill of raising $100 million to expand a biotech firm among the dreaming spires of Oxford was soon tempered: unable to find a bigger laboratory, she routinely had to work at home.

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15 Jun 2023 17:15

UK's FTSE 100 rises on energy boost; Informa jumps

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15 Jun 2023 11:12

Legal & General new CEO has "hard act to follow" after Wilson's tenure

(Alliance News) - Legal & General Group PLC on Thursday named its new chief executive, but Antonio Simoes has a "hard act to follow."

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Legal & General hires Santander's Antonio Simoes as CEO

Simoes will join the company on Jan. 1, 2024

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15 Jun 2023 09:10

Santander appoints Castro e Almeida to drive growth in Europe

MADRID, June 15 (Reuters) - Santander said on Thursday it has appointed Pedro Castro e Almeida as regional head for Europe as the Spanish bank bets on this region to drive growth.

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