London, June 27, 2026, 23:02 BST
- Legal & General ended Friday at 286.9p, gaining 1.3% from last Friday’s close. The FTSE 100 finished up 1.4% over that period.
- L&G Group has bought back £395.2 million worth of stock from its planned £1.2 billion buyback, with £804.8 million left.
- The unused buyback is roughly 5.1% of AJ Bell’s £15.72 billion market cap based on the stock’s value before costs or any share price move.
- L&G is set to report half-year results on Aug. 5. The company has the date listed on its .
Legal & General Group Plc (LON:LGEN) started the week with the shares lagging the buyback action. The stock closed Friday at 286.9 pence, off 0.1% for the day and up 1.3% from 283.2p the previous Friday. The FTSE 100 (INDEXFTSE:UKX) rose 1.4% that week, putting L&G just under a tenth of a point behind.
L&G’s buyback stands at £804.8 million so far, the number to watch. The buyback page puts it at 154.9 million shares repurchased for £395.2 million at £2.5744 average price, according to the latest figures. L&G set the current programme at £1.2 billion back in March, which is its biggest ever.
The latest authorisation left enough to buy about 280 million shares at Friday’s close, or around 5.1% of the current voting-rights total. That figure is before fees and could move if the stock price shifts. Shares trade about 11% above the average price paid to date, so how fast and at what price the rest is bought affects per-share earnings.
L&G’s most recent buyback was smaller than earlier rounds. From June 15 to June 17, the company bought 1.99 million shares for cancellation, paying an average 282.3p. Its buyback table shows a consideration of £5.6 million for this stretch, down from £72.2 million in the April 27-May 1 period.
LGEN’s taper started as shares neared their year high. According to AJ Bell, the stock hit 288.2p in Friday trading. The year high was 302.3p, with a dividend yield at 7.56% and market cap at £15.72 billion.
London stocks slipped, offering L&G some breathing room. The FTSE 100 closed down 0.2% on Friday, hit by weakness in energy and banking shares, Reuters said. Still, the index logged its largest weekly gain in over a month.
Capital is still weighing on a cleaner rerate for L&G. Back in March, Reuters said L&G shares dropped after both core profit and the Solvency II ratio came in below estimates, even though the company started its buyback. CEO Antonio Simoes told Reuters, “In two years, we’ve reshaped the company,” adding L&G was “very comfortable” with its solvency ratio. Reuters
Hargreaves Lansdown senior equity analyst Matt Britzman called the selloff “a little harsh” after the full-year numbers and said he’s still “constructive about the path forward.” Britzman pointed to bulk annuities as a key part of the business and said the income profile was attractive, but he also mentioned there are near-term economic risks. HL
L&G’s next event comes Aug. 5, when the group reports half-year results. Looking at dividend dates, shares go ex-dividend Aug. 20, with a record date set for Aug. 21 and payment planned for Sept. 25.
L&G’s (LGEN.L) focus this week is whether fresh buyback updates show the company still picking up stock near 287p, or if the slower pace seen in June holds with the shares hanging above the programme’s average buy price.
