Beazley (LON:BEZ) Downgraded by Jefferies Financial Group to Hold
Jefferies Financial Group lowered shares of Beazley (LON:BEZ) to a hold rating in a research report sent to investors on Thursday, Stock Target Advisor reports. The brokerage currently has GBX 611 ($8.04) target price on the stock, down from their previous target price of GBX 616 ($8.10).
Several other equities analysts have also commented on BEZ. Goldman Sachs Group initiated coverage on Beazley in a report on Monday, February 3rd. They issued a neutral rating and a GBX 555 ($7.30) target price on the stock. Peel Hunt reissued an overweight rating and issued a GBX 450 ($5.92) target price on shares of Beazley in a report on Tuesday, November 12th. Peel Hunt dropped their target price on Beazley from GBX 450 ($5.92) to GBX 440 ($5.79) and set a reduce rating on the stock in a report on Tuesday. Morgan Stanley dropped their target price on Beazley from GBX 690 ($9.08) to GBX 660 ($8.68) and set an overweight rating on the stock in a report on Monday, December 2nd. Finally, Shore Capital reissued a buy rating on shares of Beazley in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Beazley has a consensus rating of Buy and an average price target of GBX 591.20 ($7.78).
LON:BEZ traded up GBX 8.50 ($0.11) during trading hours on Thursday, hitting GBX 580 ($7.63). The company’s stock had a trading volume of 1,180,516 shares, compared to its average volume of 2,070,000. The stock has a market capitalization of $3.07 billion and a P/E ratio of 13.18. The stock has a fifty day moving average of GBX 552.80 and a 200-day moving average of GBX 570.19. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 36.56. Beazley has a 52-week low of GBX 499.40 ($6.57) and a 52-week high of GBX 634 ($8.34).
In other news, insider Christine LaSala acquired 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of GBX 555 ($7.30) per share, with a total value of £27,750 ($36,503.55). Also, insider Adrian Cox acquired 36,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of GBX 545 ($7.17) per share, for a total transaction of £197,835 ($260,240.73). In the last ninety days, insiders have acquired 43,188 shares of company stock worth $23,566,692.
Beazley plc provides risk insurance and reinsurance solutions worldwide. The company's Marine segment underwrites various marine classes, including hull, energy, cargo and specie, piracy, satellite, aviation, kidnap and ransom, and war risks. Its Political, Accident & Contingency segment underwrites terrorism, political violence, expropriation, and credit risks, as well as contingency and risks associated with contract frustration.
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