Legal & General: A Unique Opportunity For Income And Growth

Why a boring stock can transform your portfolio

Legal & General (LGEN in London, LGGNY, or LGGNF in the US) is a venerable UK life insurer that is not highly valued by Mr. Market. Over many years, LGEN has grown its dividends without impact on its stock price. The current yield is almost 10% tax-qualified for US investors but nobody seems in a hurry to buy the stock. New management was inaugurated on Jan 1, 2024, held its first Investor Day on June 12, and the stock dropped.

This negativity has created an opportunity that is only fractionally linked to the stock’s high yield. Neglected LGEN is transforming itself but nobody cares.