Six Brokers Issue Sells Despite Legal & General’s 7.7% Yield
Shares of Legal & General Group Plc edged down 0.3% to 283.9 pence on Monday. The insurer faces a widening broker sell wall even as cash returns remain elevated. This quote was logged at 09:06 BST on the London market.
LON:LGEN · Investor dashboard
High yield, lower confidence
The stock is falling because broker concern over pension-transfer margins and cash remittances is overpowering strong capital returns.
Market data: 24 Aug 2026, 09:06 BST
London regular session
Prepared 09:32 BST
London regular session
Prepared 09:32 BST
Share price
283.9p
−0.3% intraday
Since Aug. 14
−6.9%
305.0p → 283.9p
Trailing dividend yield
7.7%
21.79p / 283.9p
Buyback / market cap
7.7%
£1.2bn / £15.68bn
Seven-session price path
The steepest move came on Aug. 20. Friday volume reached 56.3m shares.
Broker target map
Eight-target average: 276.5p, or 2.6% below spot.
What is moving the stock?
Pressure
Citi cut 2026–27 remittance forecasts 4.5%. UBS highlighted UK pension-transfer margins of 4.2%, down from 7.1%. Six tracked brokers now rate the shares sell, underweight or underperform.
Support
Core operating profit rose 7%. EPS gained 11%. The solvency ratio is 201%. A £1.2bn buyback and 7.7% trailing yield limit the bear case.
Operating scorecard
| Metric | Latest | Change / reference |
|---|---|---|
| Core operating profit | £918m | +7% |
| Core operating EPS | 12.15p | +11% |
| Asset-management fee earnings | — | +37% |
| Solvency II coverage | 201% | Above 160%–190% range |
| UK PRT margin | 4.2% | 7.1% year ago |
Capital-return math
£1.2bn buyback progress
37.5%
£450m completed by end-July. Completed value equals roughly 2.9% of current market capitalisation.
Decision levels
280p UBS target / near support
245p Citi downside case
320p Peel Hunt upside case
Sources: Sharecast, London South East, Legal & General H1 2026, Citi rationale. Market prices are delayed and informational.
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