LGGNF - Legal & General Q4 Earnings: This Is A Solid Story
2024-03-08 11:21:28 ET
Summary
- Legal & General released its results, showing resilience and firm performance.
- The company is on track to achieve its five-year targets. We believe expectations will likely be raised with the new strategic plan.
- DPS was raised, and the company's solvency II ratio reached 224%, with lower interest rate volatility going forward. Our buy is confirmed.
Yesterday, Legal & General Group Plc ( LGGNF )( LGGNY ) released its Fiscal Year 2023 and Q4 results. L&G is one of the UK's leading financial services companies, offering products that range from pension and life insurance to worldwide investments. A key company value driver is the UK's leading position in traditional life insurance. This, coupled with annuities markets and its asset management division, is a resilient and highly cash-generative business model. This very well supports L&G's progressive and growing dividend strategy. Indeed, in our last update, a 10% dividend yield projection in 2024 is now a reality....
Legal & General Q4 Earnings: This Is A Solid Story