Share Buyback Plan Authorized by London Stock Exchange Group (LON:LSEG)
by Tristan Rich · The Markets DailyLondon Stock Exchange Group (LON:LSEG – Get Free Report) declared that its Board of Directors has initiated a stock buyback program on Thursday, April 9th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
London Stock Exchange Group Stock Performance
LSEG stock traded up GBX 16 during midday trading on Thursday, hitting GBX 8,988. 1,295,054 shares of the stock traded hands, compared to its average volume of 18,318,508. The firm has a market cap of £44.57 billion, a P/E ratio of 37.92, a PEG ratio of 1.72 and a beta of 0.38. The company has a debt-to-equity ratio of 59.24, a current ratio of 229.64 and a quick ratio of 0.01. The stock’s fifty day simple moving average is GBX 8,284.53 and its 200-day simple moving average is GBX 8,639.09. London Stock Exchange Group has a 1-year low of GBX 6,684 and a 1-year high of £118.10.
London Stock Exchange Group (LON:LSEG – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported GBX 420.60 EPS for the quarter. London Stock Exchange Group had a net margin of 13.41% and a return on equity of 6.10%. On average, analysts expect that London Stock Exchange Group will post 405.5009823 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LSEG. Royal Bank Of Canada reissued an “outperform” rating and set a £135 target price on shares of London Stock Exchange Group in a report on Wednesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of London Stock Exchange Group from £131 to £132 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and set a £110 target price on shares of London Stock Exchange Group in a report on Tuesday, March 31st. Citigroup reduced their target price on shares of London Stock Exchange Group from £133 to £131 and set a “buy” rating for the company in a report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of London Stock Exchange Group from £119 to £114 and set a “buy” rating for the company in a report on Monday, January 26th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, London Stock Exchange Group has an average rating of “Buy” and an average target price of £121.17.
Read Our Latest Research Report on London Stock Exchange Group
Insider Buying and Selling at London Stock Exchange Group
In related news, insider Michel-Alain Proch sold 5,304 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of GBX 8,557, for a total transaction of £453,863.28. Also, insider David Schwimmer sold 4,600 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of GBX 8,778, for a total transaction of £403,788. In the last 90 days, insiders have sold 18,767 shares of company stock worth $163,156,844. 0.30% of the stock is owned by company insiders.
London Stock Exchange Group Company Profile
LSEG is a leading global financial markets infrastructure and data provider that operates connected businesses to serve customers across the entire financial markets value chain.
With capabilities in data, indices and analytics, capital formation, trade execution, clearing and risk management, we operate at the heart of the world’s financial ecosystem and enable the sustainable growth and stability of our customers and their communities.
Together, our five business divisions – Data and Analytics, FTSE Russell, Risk Intelligence, Capital Markets and Post Trade – offer customers seamless access to global financial markets, across the trading lifecycle.
LSEG is headquartered in London and has a major presence throughout Europe, the Americas, Asia Pacific and emerging markets.