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Financial services giant Legal & General Group (LSE:LGEN) is one of my favourite FTSE 100 dividend shares. I opened a position in the company during the summer. And I’m looking to increase my holdings as soon as my financial circumstances allow.
Higher interest rates have depressed assets under management (AUMs) at the firm’s investment division of late. As a consequence, operating profit has dropped 2% to £941m in the first half, latest financials showed. This means the share price could continue to struggle.
Yet trading has remained remarkably resilient despite the tougher trading environment. And things could be looking up in 2024 as central banks consider cutting rates in response to plummeting inflation.
Here’s why Legal & General is one of my favourite passive income shares today.
1. Huge (and growing) dividend yields
Life insurance companies are famed for their…
