Citi raises target for Legal & General stock from 245 to 248 GBp

Published on 10/02/2026 at 14:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Half-year operating profit reached GBP 918 million. Legal & General stock costs EUR 3.41 on October 2, 2026 after EUR 3.41, unchanged.

Isometrisch 3D Wertschöpfungskette Vorsorge Legal & General Group plc GB0005603997 — Legal & General Group plc GB0005603997 isometrische 3D-Darstellung zeigt Wertschöpfungskette von Schutz bis Vorsorge, Illustration mit AI erstellt.

Legal & General (ISIN GB0005603997) was trading at EUR 3.41 at Lang & Schwarz on October 2, 2026 at 2:37 p.m. CEST, unchanged from the prior close of EUR 3.41. On September 29, 2026, Citi raised its price target from GBp 245.00 to GBp 248.00 while keeping a Sell rating, as reported by Markets Insider.

Half-year profit reaches GBP 918 million

Legal & General reported core operating profit of GBP 918.0 million for the first half of 2026, according to S&P Global Ratings on September 21, 2026. The pension risk transfer business contributed GBP 646.0 million, while retail contributed GBP 248.0 million.

Asset management operating profit increased to GBP 222.0 million from GBP 202.0 million in the first half of 2025, a GBP 20.0 million rise. The same review said profit before tax reached GBP 1.997 billion in the first half of 2026, compared with GBP 406.0 million in the first half of 2025, although the comparison included a GBP 1.4 billion gain from the disposal of the US businesses to Meiji Yasuda.

Capital strength remains the counter-factor

The solvency capital requirement coverage ratio stood at 201.00 percent at half-year 2026, down from 217.00 percent a year earlier, according to S&P Global Ratings. Legal & General expects the ratio to improve to 209.00 percent after debt management exercises, while its target range is 160.00 percent to 190.00 percent.

The group also committed to returning GBP 5.0 billion through buybacks and dividends between 2026 and 2028. That capital-return plan supports shareholder distributions, but the lower solvency ratio and the capital demands of pension risk transfer remain central to the credit discussion.

Analyst target stays below the quote

Citi's GBp 248.00 target remains below the GBp 276.86 average target cited by MarketBeat on October 1, 2026. MarketBeat also reported a Reduce consensus, with two Buy ratings, one Hold rating and four Sell ratings.

Legal & General stock holds at EUR 3.41

Legal & General stock was trading at EUR 3.41 at Lang & Schwarz on October 2, 2026 at 2:37 p.m. CEST, unchanged from the prior close of EUR 3.41. The primary listing is on the London Stock Exchange, where the share trades in GBp.

The further course of trading is shown by the continuously updated real-time quote of Legal & General stock.