Legal and General - LGEN

I have as well - I also have insurance products with them, always found them good

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Good jump in the share price this morning. Anyone know what’s going on?

I think it’s general across all the stock market. Must be related to the fact that CPI(Consumer price index) in the US was lower than expected. This is seen as a recover sign, meaning interest rates won’t increase as much. Nothing to do with the UK.
The only update from LGEN was the appointment of a new board member. Board Committee Appointment - 09:00:02 11 Nov 2022 - LGEN News article | London Stock Exchange

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Excellent announcement by legal and general, in my opinion. This site gives a fuller rns announcement than for instance Hargreaves Lansdown. Well worth a read and the share price increase at the moment doesn’t in my opinion reflect it.

Note announcement was today.

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Prediction
Legal and general are down 5% over 5 years.
They have increased profits and dividends for getting on 10 years. With obvious exception of COVID but still produced a decent profit during COVID.
Pre COVID ran upto 320 post COVID 310p.
At some point they will settle above 300p long term.
This I would suggest will be around April post exdivided.
IE they will not fall back to around 250-260 mark where they normally stand.
It has to happen as profits continue there inevitable rise. Particularly as it appears that profits are appearing to accelerate.
I hold from a purchase in the depth of the crash with a dividend close on 12%
At this point in time legal and general wouldn’t be on my radar but that dividend is now in my ISA and I am making use of it by buying shares I am interested in.
Even at the present price and dividends I would consider buying (if I hadn’t already) just to reinvest the dividends in something else I fancy.

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Nigel is retiring (CEO last 10 years).
Share price down 3%
FTSE 100 up a minimal amount.
How important is he to the growth of legal and general?
I think he set the course and it’s unlikely under the new CEO that they will change course.
Trading at 253 buy.
I am buying shares in my ISA that I have in my general account that I want to sell and buy back in ISA next year.
I have a small amount of legal and general still in my general account so put an order in for the same amount in my ISA at 240 despite the price being 253p. Greedy I know but I reckon the market has not digested the news. Once there is some downward moment I could get them. Possible!

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To greedy had to pay 253p

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Legal & General: Leading bank assesses investor concerns

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I have bit the bullet and bought some LGEN direct and in a shocka, Certificated form!! at least I will now get to vote on the AGM’s etc.
This is the only thing lacking for convenience of using nominee accounts. I believe some larger companies are addressing this but will hold onto my certificates until then.

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