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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Legal & General Plc    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
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Legal & General : Fidelity Buys LGIM's Personal Investing Busines

11/13/2020 | 05:09am EST

On October 23, 2020, Legal & General Group plc announced it had agreed to sell a book of retail investment products to Fidelity International Ltd. from Legal & General Investment Management.

Under the terms of the agreement, Fidelity International Ltd. ("Fidelity") will purchase Legal & General Investment Management's ("LGIM") UK personal investing business. This transaction will add 300,000 clients and $7.5 billion in assets under management to Fidelity's business. Customers will remain invested in LGIM funds. Further terms of the agreement were not disclosed.

Fidelity offers investment solutions and retirement expertise to institutions, individuals and their advisers around the world. As of June 30, 2020, Fidelity was responsible for total client assets of $565.7 billion.

LGIM, based in the United Kingdom, is one of Europe's largest asset managers, offering investment solutions to a broad range of clients globally.

To read the press release: please click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Seward & Kissel
Seward & Kissel
One Battery Park Plaza
New York
NY 10004
UNITED STATES

© Mondaq Ltd, 2020 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials
Sales 2020 32 991 M 44 822 M 44 822 M
Net income 2020 1 664 M 2 260 M 2 260 M
Net Debt 2020 1 149 M 1 560 M 1 560 M
P/E ratio 2020 9,71x
Yield 2020 6,50%
Capitalization 16 206 M 22 028 M 22 017 M
EV / Sales 2020 0,53x
EV / Sales 2021 0,42x
Nbr of Employees 8 542
Free-Float 97,4%
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Technical analysis trends LEGAL & GENERAL PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 279,56 GBX
Last Close Price 273,00 GBX
Spread / Highest target 39,2%
Spread / Average Target 2,40%
Spread / Lowest Target -39,6%
EPS Revisions
Managers and Directors
NameTitle
Nigel David Wilson Group Chief Executive Officer & Executive Director
John Kingman Chairman
Jeff Davies Group Chief Financial Officer & Executive Director
Julia Susan Wilson Senior Independent Non-Executive Director
Lesley Mary Samuel Knox Independent Non-Executive Director
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