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Pin to quick picksLegal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

London Stock Exchange
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Share Price: 252.40
Bid: 252.10
Ask: 252.30
Change: -0.50 (-0.20%)
Spread: 0.20 (0.079%)
Open: 251.70
High: 252.50
Low: 249.80
Prev. Close: 252.90
LGEN Live PriceLast checked at -

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Legal and General posts 18% rise in first-half operating profit, lifts dividend

Wed, 05th Aug 2015 08:11

(ShareCast News) - Insurer Legal & General posted a 6% rise in first-half pre-tax profit and an 18% increase in operating profit on the back of strong organic growth in the UK and US, as it raised its interim dividend despite a fall in annuities.Pre-tax profit for the six months ended 30 June came in at £672m from £636m in the first half of last year, while operating profit was £750m, up from £636m. Net cash generation grew 11% to £629m and the interim dividend was lifted by 19% to 3.45p per share from 2.90p.The growth came despite a 62% drop in annuity sales to £1.3bn from £3.5bn in the same period of last year, as a result of changes to UK pension rules which mean pensioners have more freedom over how they choose to invest their savings.Chief executive Nigel Wilson said: "Legal & General continues to deliver strong organic growth in the UK and the US from both our developing and established, market leading businesses. In addition we are disposing of, or closing non-core businesses and reducing costs in real and nominal terms."The actions that we are taking allow us to focus on our chosen markets, enable us to continue to deliver low prices and better value for our increasing customer base and deliver attractive returns for our shareholders."The company said it was on track to deliver £80m in savings in 2015 and remains confident in delivering the operational cash guidance given at the time of the 2014 full-year results.Nomura said the results were "strong" with beats across the board. It said net cash generation was 4% higher than consensus expectations, while operating profit was 8% ahead and the interim dividend came in 3% higher than expected. The bank reiterated its 'buy' rating on the stock and said L&G's dividend growth story is intact. At 09:07, shares were up 2.9% at 271p.
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30 Jan 2023 12:14

LONDON MARKET MIDDAY: Stocks fall ahead of busy week for central banks

(Alliance News) - Stock prices in London were down on Monday around midday, as investors anxiously look ahead to three crucial interest rate decisions that will be announced later this week.

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30 Jan 2023 08:57

LONDON MARKET OPEN: 888 boss leaves, Middle East activities suspended

(Alliance News) - Stock prices in London opened lower on Monday morning, amid market caution at the start of an important week for interest rate decisions by the world's top central banks.

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30 Jan 2023 08:28

TOP NEWS: Legal & General Wilson to retire as CEO after over 10 years

(Alliance News) - Legal & General Group PLC on Monday said Chief Executive Nigel Wilson plans to step down, after more than a decade in post.

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30 Jan 2023 08:06

L&G chief executive Nigel Wilson to retire

(Sharecast News) - Legal & General said on Monday that Sir Nigel Wilson is planning to retire after more than a decade as chief executive.

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30 Jan 2023 07:55

LONDON BRIEFING: Unilever hires dairyman as CEO; Wilson to depart L&G

(Alliance News) - Stocks in London are set to open lower on Monday, as investors look ahead to three key interest-rate decisions this week.

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24 Jan 2023 11:45

JPMorgan-backed Smart Pension to raise more than 100 mln stg in equity -sources

LONDON, Jan 24 (Reuters) - Smart Pension, a British pension services provider backed by JPMorgan and Legal & General, is in discussions with investors to raise more than 100 million pounds ($123.13 million) worth of equity capital, two sources close to the matter told Reuters.

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23 Jan 2023 10:37

Glass Lewis recommends vote against Capricorn board, NewMed merger

Big question mark over Capricorn's planned merger with NewMed

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23 Jan 2023 09:20

Legal & General Chair John Kingman to become chair of Barclays Bank UK

(Alliance News) - Barclays PLC and Legal & General Group PLC on Monday said L&G Chair John Kingman will join the board of Barclays as a non-executive director on June 1 and will become the next chair of Barclays Bank UK PLC.

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16 Jan 2023 15:48

L&G plans to vote against Capricorn leadership and NewMed merger

LONDON, Jan 16 (Reuters) - Asset manager Legal & General plans to take the rare step of voting to oust energy group Capricorn's senior leadership and halt its planned merger with NewMed, according to a company document seen by Reuters.

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10 Jan 2023 10:11

LONDON BROKER RATINGS: Jefferies likes Inchcape; HSBC cuts Clarkson

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LONDON BROKER RATINGS: JPMorgan cuts Lloyds but raises Barclays

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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23 Nov 2022 13:32

Investors back call for UK firms to support low-paid workers

Aviva Investors, LGIM among those to join campaign

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21 Nov 2022 10:09

LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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LONDON MARKET CLOSE: FTSE 100 gains capped by falling oil prices

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18 Nov 2022 12:18

LONDON MARKET MIDDAY: Stocks pick up and pound firms against dollar

(Alliance News) - Stocks in London were higher by midday on Friday, managing to shake off a gloomy economic backdrop, while the pound got a boost from market acceptance of Thursday's UK government budget.

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