Beazley (LON:BEZ) Shares Up 39.7% – Time to Buy?

Beazley plc (LON:BEZ)’s share price traded up 39.7% during mid-day trading on Monday . The company traded as high as GBX 1,195 and last traded at GBX 1,145.72. 103,183,063 shares traded hands during trading, an increase of 599% from the average session volume of 14,761,447 shares. The stock had previously closed at GBX 820.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Beazley from GBX 1,000 to GBX 1,040 and gave the company a “buy” rating in a report on Wednesday, November 12th. Royal Bank Of Canada lifted their price target on Beazley from GBX 1,000 to GBX 1,100 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Peel Hunt reiterated an “add” rating and set a GBX 900 price target on shares of Beazley in a research note on Tuesday, November 25th. Berenberg Bank reduced their price objective on Beazley from GBX 1,150 to GBX 1,100 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. decreased their target price on Beazley from GBX 1,050 to GBX 1,025 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Beazley currently has a consensus rating of “Buy” and an average price target of GBX 1,033.

Beazley Price Performance

The firm’s fifty day simple moving average is GBX 829.24 and its 200 day simple moving average is GBX 855.62. The company has a market capitalization of £6.74 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68.

About Beazley

Beazley plc provides risk insurance and reinsurance solutions in the United States, the United Kingdom, rest of Europe, and internationally. It operates through Cyber Risks, Digital, MAP Risks, Property Risks, and Specialty Risks segments. The Cyber Risk segment underwrites cyber and technology risks. The Digital segment underwrites various marine, contingency, and SME liability risks through digital channels, such as e-trading platforms and broker portals. The MAP Risks segment underwrites marine, portfolio underwriting and political, and contingency business.