Directors dealings: Legal&General director picks up shares

Legal & General independent director Julia Wilson picked up 7,320 shares in the life insurer she helps run at a price of 206p each, for a total consideration of £15,084.18.

In the previous session, the firm announced that operating profits jumped 10% during the first half of the year to reach £822m.

However, it also lowered its guidance for full-year free cash flows, projecting growth of about 5%, down from its previous steer for an increase of between 6% to 7%.

That was the result of the insurer´s decision to increase its cash holdings in the run-up to the referendum vote.

For analysts at Shore Capital that was the prudent course of action.

"Increased disclosure on the asset portfolio within direct investments should provide comfort to the nature of the investments which, to us, remain highly appropriate against Legals’ liabilities. The group took a cautious stance in the run-up to Brexit which will deflate cash generation in the short term but, with hindsight, this was an appropriate course of action," analyst Eamonn Flanagan said in a research note sent to clients.

Be that as it may, in the following session some observers in the market wondered aloud whether that might not mean that the dividend could be at risk at some point.

Shares of Legal&General closed 3.16% higher at 212.50p on Wednesday.

Top Director Buys

U And I Group (UAI)
Director name: Upton,Richard
Amount purchased: 46,012 @ 161.50p
Value: £74,309.38

Atlantis Japan Growth Fund Ltd. (AJG)
Director name: Ehrmann,Philip
Amount purchased: 20,000 @ 150.00p
Value: £30,000.00

Ladbrokes (LAD)
Director name: Kelly OBE,John
Amount purchased: 19,400 @ 152.80p
Value: £29,643.20

Legal & General Group (LGEN)
Director name: Wilson,Julia
Amount purchased: 7,320 @ 206.07p
Value: £15,084.18

Srt Marine Systems (SRT)
Director name: Lapping,Andrew Christopher
Amount purchased: 20,000 @ 48.40p
Value: £9,680.00

Diageo (DGE)
Director name: Humer,Franz B
Amount purchased: 383 @ 2,164.00p
Value: £8,288.12

French Connection Group (FCCN)
Director name: Angelides,C E
Amount purchased: 20,000 @ 40.00p
Value: £8,000.00

Foreign And Colonial Inv Trust (FRCL)
Director name: Bone,Roger
Amount purchased: 401 @ 495.26p
Value: £1,985.99

Judges Scientific (JDG)
Director name: Cicurel,David
Amount purchased: 22 @ 1,340.00p
Value: £294.80

Judges Scientific (JDG)
Director name: Ormsby,Bradley Leonard
Amount purchased: 22 @ 1,340.00p
Value: £294.80

Diageo (DGE)
Director name: Mikells,Kathryn
Amount purchased: 7 @ 2,164.00p
Value: £151.48

(CMCX)
Director name: Fineberg,David
Amount purchased: 54 @ 279.80p
Value: £151.09

Lloyds Banking Group (LLOY)
Director name: Horta-Osorio,Antonio
Amount purchased: 273 @ 54.93p
Value: £149.95

National Grid (NG.)
Director name: Pettigrew,John
Amount purchased: 14 @ 1,060.54p
Value: £148.48

National Grid (NG.)
Director name: Bonfield,Andrew R J
Amount purchased: 14 @ 1,060.54p
Value: £148.48

(CMCX)
Director name: Foley,Grant
Amount purchased: 53 @ 279.80p
Value: £148.29

Glaxosmithkline (GSK)
Director name: Dingemans,Simon
Amount purchased: 8 @ 1,679.75p
Value: £134.38

Glaxosmithkline (GSK)
Director name: Witty,Sir Andrew P
Amount purchased: 8 @ 1,679.75p
Value: £134.38

Imi (IMI)
Director name: Shook ,Daniel
Amount purchased: 12 @ 1,060.00p
Value: £127.20

Imi (IMI)
Director name: Selway,Mark W
Amount purchased: 12 @ 1,060.00p
Value: £127.20

Daily Mail And General Trust A (non.v) (DMGT)
Director name: Daintith,Stephen
Amount purchased: 18 @ 703.50p
Value: £126.63

Lloyds Banking Group (LLOY)
Director name: Colombás ,Juan
Amount purchased: 228 @ 54.93p
Value: £125.23

Drs Data & Research Services (DRS)
Director name: Tebbutt,Arthur M
Amount purchased: 628 @ 19.90p
Value: £124.97

Lloyds Banking Group (LLOY)
Director name: Culmer,George
Amount purchased: 227 @ 54.93p
Value: £124.69

Daily Mail And General Trust A (non.v) (DMGT)
Director name: Beatty,Kevin
Amount purchased: 17 @ 703.50p
Value: £119.59

Imi (IMI)
Director name: Twite,Roy
Amount purchased: 11 @ 1,060.00p
Value: £116.60

Top Director Sells

Sophos Group (SOPH)
Director name: Hagerman,Kris
Amount sold: 125,072 @ 227.99p
Value: £285,151.66

Sophos Group (SOPH)
Director name: Hagerman,Kris
Amount sold: 100,634 @ 224.27p
Value: £225,691.47

Scapa Group (SCPA)
Director name: Carter,Christopher
Amount sold: 74,398 @ 255.00p
Value: £189,714.90

Sophos Group (SOPH)
Director name: Bray,Nick
Amount sold: 49,032 @ 227.99p
Value: £111,788.06

Sophos Group (SOPH)
Director name: Bray,Nick
Amount sold: 39,452 @ 224.27p
Value: £88,478.84