Legal & General Group: 2023 On Track, New CEO Keeps His Cards Close, Rating Maintained [Seeking Alpha]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
Company Research
Source: Seeking Alpha
New business sales were at record levels, with tailwinds to drive further growth. The new CEO, Antonio Simoes, hinted at potential strategy changes during the earnings call. I will review financial results, provide insights from the analysts' call, update valuation, and review the stock rating. Legal & General Group ( OTCPK:LGGNY ) reported on its FY 2023 on March 11th. Results continue to be on track with sustained profitability despite some challenging conditions in the rearview mirror. New business generation was strong, which bodes well given several macro tailwinds. A 5% increase in the dividend was announced. I have previously analysed the business and investor case - readers can refer to this article for a background explanation of the business, macro trends, and valuation in support of a buy rating. This was the first set of results presented by Antonio Simoes, the new CEO, and it was insightful to review the earnings call transcript for hints as to his strategy and c
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