Legal & General (LGEN) Share Price Today – 28 November 2025: High-Yield FTSE 100 Insurer Holds Near 247p After Stress-Test Boost and Global Portfolio Moves

Published: 28 November 2025

Legal & General Group Plc (LON: LGEN) ended Friday’s session broadly flat but firmly supported, as investors digested upbeat regulatory stress‑test results for the life insurance sector and a fresh wave of portfolio disclosures showing the group increasing stakes in several global growth names.

Legal & General share price today (28 November 2025)

At the close of trading on the London Stock Exchange, Legal & General shares changed hands around 246.7p, up roughly 0.08% on the day. Hargreaves Lansdown quotes a sell price of 246.70p and a buy price of 246.80p, with prices marked as “as at close on 28 November 2025”. ^[1]

During the session the stock traded in a relatively tight intraday range, with a day low near 245.7p and a high just above 250p (c. 250.45p), on volume of just over 3.3 million shares. ^[2]

On the company’s own share monitor, the mid‑session reference price was 246.5p at 11:07 GMT on 28 November 2025, underscoring the broadly sideways trading pattern into the close. ^[3]

By contrast, the FTSE 100 index itself edged higher, closing the day with a modest gain (around 0.1–0.2%) near the 9,700 level, according to real‑time market snapshots from London market data providers. ^[4]

Performance in context: week, year and 52‑week range

Despite the quiet finish today, Legal & General has been quietly grinding higher:

Over one week, the stock is up around 4.5%, according to Hargreaves Lansdown’s performance snapshot. ^[5]
Over one year, the total return stands at roughly +12%, outpacing the FTSE 100’s headline gain over the same period. ^[6]

The 52‑week range sits between about 206.8p and 266.2p, placing today’s ~247p level in the middle of that band – above the summer lows, but still some distance from the 2025 highs. ^[7]

Data from Shares Magazine’s historic prices show that L&G has rallied steadily through late November: closing around 234–239p in the week of 18–24 November before moving into the 241–246p area in the last few sessions. ^[8]

With a market capitalisation of about £13.9bn, the insurer remains a mid‑sized heavyweight within the FTSE 100’s income‑oriented financials cohort. ^[9]

Dividend yield near 9% remains the key attraction

For many investors, Legal & General is first and foremost a high‑yield income stock. On trailing numbers:

The company paid a final dividend of 15.36p per share for 2024 (paid in June 2025) and an interim dividend of 6.12p this year, giving total recent annualised cash payouts of roughly 21.5p per share. ^[10]
Against today’s ~246.7p share price, that equates to a historic dividend yield of about 8.7%, in line with the 8.6–9.0% range quoted by several data providers and analyst aggregators. ^[11]

For comparison, the average dividend yield on the FTSE 100 is currently around 3.1%, based on recent market commentary, underscoring just how far L&G sits above broader UK blue‑chip income levels. ^[12]

Analyst data collated by Fintel also highlights:

An indicative dividend yield near 9%, and
A three‑year dividend growth rate of around 0.1%, signalling that payouts have been gently increasing rather than aggressively re‑based. ^[13]

However, Fintel also flags a high payout ratio (over 4x recent earnings) on an accounting basis, which is common for life insurers under current reporting standards but still a reminder that investors need to understand the underlying capital generation and solvency picture, not just the headline yield. ^[14]

Strategic backdrop: strong H1 2025, capital returns and big pension deals

Although there was no new company‑specific RNS from Legal & General today, the share price continues to trade against a backdrop of solid interim results and active balance‑sheet management. Investegate’s RNS log shows the last major group‑level announcement was the 2025 Half Year Results on 6 August, followed by a series of buyback transactions and other routine disclosures during late summer. ^[15]

Key points from those H1 2025 results and subsequent communications:

Core operating EPS rose 9% year‑on‑year, to around 10.9p, at the top end of the group’s 6–9% target range. ^[16]
Core operating profit increased about 6% to £859m, driven by growth in institutional retirement and retail businesses. ^[17]
The Solvency II coverage ratio stood at roughly 217% at 30 June 2025, corresponding to a surplus of about £7.6bn above regulatory requirements. ^[18]
Management reiterated their plan to return over £5bn to shareholders over three years (2024–26), through a combination of regular dividends and share buybacks. ^[19]

Earlier this year, Legal & General announced the sale of its US protection business to Meiji Yasuda in a $2.3bn deal, alongside a long‑term strategic partnership. This move is intended to simplify the group and free capital for reinvestment and shareholder returns. ^[20]

On the growth side, the group has continued to lean into its strengths in pension risk transfer (PRT):

In October, L&G completed two buy‑in transactions worth £4.6bn with Ford Motor Company pension schemes, the largest UK PRT deal announced in 2025, covering more than 35,000 members. ^[21]
In November, it added a £96m buy‑in for the Cosworth Racing Limited Pension Fund, securing benefits for over 1,000 members, including retirees and deferred members. ^[22]
Earlier commentary from Professional Pensions and the Financial Times noted that L&G wrote roughly £3.4bn of global PRT volumes in H1 2025, with a strong UK pipeline, and that PRT was a key driver of the 6% rise in core operating profit. ^[23]

At the same time, CEO António Simões has repeatedly stressed that the group is “a growing, simpler, better‑connected L&G”, with asset management positioned as a core engine of long‑term growth. The company manages around £1.1 trillion in assets, with a strategic push to increase the share of international and private‑market assets, according to recent FT coverage. ^[24]

Fresh information today: stress‑test reassurance and global portfolio moves

The main new information relevant to Legal & General on 28 November 2025 comes from two directions:

Regulatory stress‑test commentary for life insurers, and
Updated 13F filings showing L&G’s asset‑management arm adjusting holdings in global equities, as reported by MarketBeat.

1. PRA Life Insurance Stress Test 2025 – sector resilience confirmed

Consultancy XPS Group today published an insight note on the Prudential Regulation Authority’s (PRA) 2025 Life Insurance Stress Test (LIST), which is highly relevant to large UK bulk annuity writers such as Legal & General. ^[25]

Key takeaways from that note:

The PRA’s LIST 2025 applied a “severe but plausible” 1‑in‑100‑year‑type shock to participating life insurers.
On an aggregate basis, the sector’s Solvency Capital Requirement (SCR) coverage ratio fell from about 185% to 154% under the core stress, but all firms remained above the 100% regulatory minimum. ^[26]
Additional exploratory scenarios (including asset‑concentration and funded reinsurance shocks) reduced the aggregate ratio further, but still left the sector with significant headroom. ^[27]

The report concludes that the UK life sector appears resilient even under harsh scenarios, while cautioning that business mix and risk management differences matter when trustees are selecting buy‑in and buy‑out providers. ^[28]

Although the PRA’s published material is largely sector‑wide rather than company‑specific, the results support the idea that L&G and peers are operating from a position of strong capital, consistent with L&G’s own 217% Solvency II ratio at mid‑year. ^[29]

For equity investors, this strengthens the case that the high dividend is backed by a robust balance sheet, even if statutory earnings are volatile.

2. 13F filings: Legal & General’s global equity bets in focus

The second cluster of news today concerns Legal & General Group Plc’s positions in overseas stocks, based on the latest Form 13F filings with the US Securities and Exchange Commission, summarised by MarketBeat on 28 November. While these stories relate to asset‑management portfolios rather than the group’s own balance sheet, they illustrate where L&G is deploying client and fund capital across global markets.

Highlights from today’s batch of MarketBeat alerts include: ^[30]

ASML Holding N.V. (NASDAQ: ASML)
- L&G increased its holding by about 18.6%, buying an additional 4,346 shares in Q2.
- The group now owns around 27,718 ASML shares, valued at roughly $22.2m at the time of the filing. ^[31]
Plug Power (NASDAQ: PLUG)
- L&G boosted its stake by 59.9%, purchasing 6.36m extra shares and bringing its total to nearly 16.98m shares, worth about $25.3m. ^[32]
Bloom Energy (NYSE: BE)
- In contrast, L&G cut its Bloom Energy position by about 51%, selling more than 1.1m shares, leaving around 1.09m shares valued at roughly $26.2m. ^[33]
AeroVironment (NASDAQ: AVAV)
- Holdings were increased by 2.8% to roughly 83,326 shares, worth around $23.7m, giving L&G an estimated 0.17% stake. ^[34]
SoFi Technologies (NASDAQ: SOFI)
- L&G raised its stake by 3.5% to roughly 1.18m shares, with the position valued at approximately $21.5m. ^[35]
CommVault Systems (NASDAQ: CVLT)
- The institution bought 11,314 additional shares, taking its holding to about 176,578 shares (around 0.4% of the company), worth just over $30.7m. ^[36]
OneSpan (NASDAQ: OSPN)
- L&G added 28,219 shares, nudging its stake to about 2.37m shares, or 6.2% ownership, valued near $39.6m. ^[37]
Performance Food Group (NYSE: PFGC)
- The group increased its holding by 1.2%, buying 4,227 shares to reach roughly 343,621 shares, worth about $30.1m. ^[38]

None of these individual portfolio moves is likely to move the L&G share price on its own, but collectively they highlight:

L&G’s role as a major global institutional investor across technology, energy, fintech and food distribution; and
Ongoing rebalancing between high‑growth clean‑energy names (Plug, Bloom), defence‑adjacent technology (AeroVironment) and digital security plays (OneSpan, CommVault).

From a shareholder’s perspective, these filings mostly reinforce the scale and diversification of Legal & General Investment Management (LGIM) rather than signaling any short‑term shift in group strategy.

Routine ETF NAV disclosures

Separately, a Regulatory News Service (RNS) notice dated 28 November 2025 recorded updated net asset values for a range of L&G UCITS ETFs, including S&P 100, China CNY bond and emerging‑market government and corporate bond funds, based on valuations as at 27 November. ^[39]

These are routine fund‑level updates and have no direct implication for L&G’s own earnings beyond the management‑fee stream they generate.

Analyst sentiment and valuation: high yield, cautious rating

On the sell‑side research front, today’s price action comes against a backdrop of mixed analyst sentiment:

RBC Capital Markets reiterated an “Underperform” rating on Legal & General in early November 2025. ^[40]
At the same time, data compiled by Fintel indicates that the average 12‑month price target across analysts is about 266p per share, with forecasts ranging from roughly 202p to 352p. That average implies about 10% upside from a late‑October closing price near 241p. ^[41]
A recent broker round‑up reported that RBC specifically raised its own target price from 200p to 210p, while maintaining its underperform stance, underscoring its relative caution compared with the wider Street. ^[42]

On basic valuation metrics:

Hargreaves Lansdown shows a trailing price‑to‑earnings ratio above 80x, reflecting how IFRS earnings for life insurers can be distorted by market movements and one‑offs. ^[43]
Many investors therefore focus more on dividend yield, solvency and capital generation than on simple P/E screens when assessing names like L&G.

The combination of a near‑9% yield and consensus price targets above the current share price explains why Legal & General continues to appear prominently on UK “income stock” lists, even as at least one major bank remains structurally cautious.

UK Budget backdrop: pensions policy and savings behaviour

This week’s Autumn Budget 2025 has also been part of the narrative around UK life insurers and retirement specialists:

Coverage in the financial press has highlighted ongoing tweaks to pension tax rules, ISA allowances and savings incentives, with the government broadly signalling continued support for long‑term retirement saving. ^[44]
For firms such as Legal & General, which sits at the intersection of workplace pensions, annuities, lifetime mortgages and retail investment products, these policy moves matter for long‑term flows even if they don’t change near‑term earnings. ^[45]

Analysts generally see the UK’s structural shift toward defined‑contribution pensions, auto‑enrolment and bulk annuity de‑risking as supportive megatrends for L&G over the next decade, as underlined in the company’s Retail Investor Deep Dive in October. ^[46]

What today’s picture suggests for Legal & General shareholders

Pulling today’s threads together:

Share price – L&G closed around 246–247p, roughly mid‑range between its 52‑week high and low, after a strong run in November but little movement on the day. ^[47]
Yield – The historic dividend yield remains close to 9%, far above the FTSE 100 average, and underpinned by robust solvency ratios and a three‑year shareholder‑return plan exceeding £5bn. ^[48]
Capital strength – Today’s commentary on the PRA stress test supports the view that UK life insurers, including major bulk‑annuity players, can withstand severe shocks while staying above regulatory capital thresholds. ^[49]
Growth and diversification – Recent PRT deals (notably the £4.6bn Ford transaction), the ongoing shift towards asset‑management‑driven growth, and the global spread of LGIM’s equity holdings all contribute to a multi‑engine earnings model. ^[50]
Risks and scepticism – A high payout ratio on accounting earnings, intensifying competition in the UK PRT market, and RBC’s underperform rating underline that not every analyst is convinced the current yield is risk‑free or that the shares are undervalued. ^[51]

For now, 28 November 2025 looks like a consolidation day for Legal & General’s stock: no blockbuster RNS, but a supportive regulatory backdrop, fresh evidence of its global investing reach, and a dividend profile that keeps the name at the centre of many UK income strategies.

Should you buy shares in Legal and General!? (Stock analysis)