London, Feb 27, 2026, 08:04 GMT — Regular session
- LSEG shares rose about 0.5% in early London trade after Elliott welcomed the group’s buyback plan.
- The activist investor called the steps a “positive first step” while urging further action.
- Investors are watching whether LSEG’s new margin targets and AI message can steady sentiment after a sharp February swing.
London Stock Exchange Group shares rose 0.5% to 8,544 pence by 0804 GMT on Friday, extending gains after activist investor Elliott threw its weight behind the company’s new buyback plan. 1
The stock had jumped 9% on Thursday — its biggest one-day rise since March 2022 — after LSEG announced a further 3 billion pounds ($4.0 billion) of buybacks and set out margin-improvement plans, a move investors read as a response to mounting pressure. 2
Why it matters now: LSEG has been caught in a nasty cross-current. Investors have fretted that fast-moving artificial intelligence tools could weaken demand for parts of its data business, and Elliott’s arrival has put management’s targets, costs and portfolio choices under a brighter light.
In a statement on Friday, Elliott said LSEG’s measures were a “positive first step” but added it saw “opportunity for further value-enhancing actions,” while describing its holding as a significant stake. 3
LSEG said 2025 total income excluding recoveries rose 7.1% on an organic, constant-currency basis and annualised subscription value (ASV) — a key metric that tracks recurring subscription run-rate — grew 5.9% at December 2025. It guided for 2026 organic income growth of 6.5%-7.5% and a constant-currency EBITDA margin uplift of 80-100 basis points (0.8-1.0 percentage points). 4
The shares closed at 8,500 pence on Thursday, up 9.1% on the day, according to delayed pricing data. 5
Some large shareholders welcomed the bigger return of cash, but the tone was not uniformly celebratory. “We were definitely keen for them to do a chunky buyback,” said Frederick Kerr-Smiley, an analyst at Ninety One, while Blue Whale Growth Fund’s Stephen Yiu said: “We welcome the buyback but you don’t invest in LSEG because you hope for buybacks and a dividend. We want growth.” 6
Even after this week’s bounce, the company is still trying to repair damage from a prolonged slide. LSEG’s shares were down about 30% over the past year as of Wednesday, Reuters reported, after the market questioned whether AI could disrupt parts of its model and whether the group can lift margins that trail some rivals. 7
Peers such as Deutsche Boerse and Nasdaq are the reference points in many investor conversations, not because their businesses match neatly, but because LSEG’s valuation and margin gap has become harder to ignore when growth nerves rise.
There is a downside case. If subscription growth slows further or AI concerns return to the fore, a buyback could look like time bought rather than a fix — and Elliott has signalled it expects more than financial engineering.
Next up, traders will look for evidence that management can keep ASV growth steady through 2026, and whether Elliott pushes for tougher portfolio moves in coming weeks. A nearer calendar marker is LSEG’s final dividend timetable: the shares are due to trade ex-dividend on April 16, 2026, with payment scheduled for May 20, 2026, subject to shareholder approval.
