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3 Outstanding Blue-Chip Bargains: Imperial Tobacco Group PLC, Legal & General Group Plc And Old Mutual plc

Today I am highlighting three FTSE 100 winners set to deliver stunning shareholder returns.

Imperial Tobacco Group

The double-whammy of enduring pressure on consumers’ wallets, and the adverse effect of changing attitudes towards smoking, has seen the bottom line at Imperial Tobacco Group (LSE: IMT) come under increasing pressure in recent years, culminating in last year’s rare 3% earnings decline.

But the firm is tackling these issues head-on to resuscitate profits growth. Not only is the company doubling-down on investment on key brands such as West and John Player Special, labels which carry terrific pricing power, but it is also ramping up investment in the white-hot e-cigarette sector to blast revenues skywards.

As a result, Imperial Tobacco is anticipated to see earnings rev higher from a 1% rise in the year concluding September 2015 to a 5% advance in fiscal 2016. These figures leave the cigarette giant changing hands on P/E multiples of 14.7 times and 14.3 times prospective earnings for these years — any figure below 15 times is widely regarded as terrific value for money.

And this bubbly outlook is expected to keep dividends ticking higher during this period, with a predicted 10% advance for this year — to 141.1p per share — expected to rise an extra 9% next year to 153.7p. These projections create stonking yields of 4.7% for 2015 and 5.1% for 2016.

Legal & General

Backed up by an ultra-aggressive expansion policy, insurance giant Legal & General (LSE: LGEN) is in great shape to generate excellent earnings growth in the coming years in my opinion. The business entered the lifetime mortgage market by purchasing New Life Home Finance earlier this month, and is using its tremendous capital reserves to also boost its operations in hot growth areas, particularly those in developing markets.

Underpinned by surging business flows, Legal & General is anticipated to have put in a further 13% earnings advance in 2014, results for which are due on March 4. And the City expects the business to keep this momentum rolling with expansion of 10% and 8% in 2015 and 2016 respectively, figures which leave the company trading on attractive earnings multiples of 14.1 times and 13.2 times for these years.

This tremendous growth is expected to drive the full-year dividend 15% higher in 2015, to 13p, up from an estimated 11.3p for last year and creating a jumbo yield of 4.8%. And an extra 11% advance is pencilled in for 2016, to 14.4p, producing a juicy yield of 5.3%.

Old Mutual

Africa-focused insurance specialists Old Mutual (LSE: OML) has been troubled by slowing activity at its core South African operations in recent times, and this Friday’s full-year update is subsequently expected to reveal a 9% earnings fall.

But the company is expected to bounce back with growth of 17% and 11% in for 2015 and 2016 correspondingly. Like Barclays, Old Mutual is in terrific shape to enjoy surging demand for financial products across Africa, boosted by a significant revamping of itss product distribution channels.

These numbers leave the business dealing on ultra-cheap P/E multiples of 11 times and 9.9 times for these years — a number below 10 times is generally considered too good to pass up. Meanwhile, chunky yields of 4.5% for 2015 and 4.9% for 2016 will appeal to dividend seekers, underpinned by anticipated hikes of 13% and 9% for this year and next, to 9.7p and 10.6p.

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Royston Wild owns shares of Imperial Tobacco Group. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.