Beazley (LON:BEZ) Now Covered by Analysts at Berenberg Bank
Berenberg Bank has initiated coverage on Beazley (LON:BEZ), assigning a "buy" rating and a price target of GBX 1,150 ($15.52), indicating a potential upside of 21.31%. On Thursday, Beazley shares rose by GBX 17 to GBX 948 ($12.80). The company has a market cap of £7.29 billion and reported a net margin of 22.82%. Additionally, Beazley announced a stock repurchase plan and insider Adrian Cox sold 27,772 shares at an average price of GBX 902 ($12.17).
Research analysts at Berenberg Bank assumed coverage on shares of Beazley (LON:BEZ - Get Free Report) in a research note issued on Thursday,London Stock Exchange reports. The firm set a "buy" rating and a GBX 1,150 ($15.52) price target on the stock. Berenberg Bank's target price points to a potential upside of 21.31% from the company's previous close.
Beazley Price Performance
BEZ traded up GBX 17 ($0.23) during trading on Thursday, hitting GBX 948 ($12.80). The stock had a trading volume of 1,791,836 shares, compared to its average volume of 5,287,856. The company has a 50 day moving average price of GBX 897.53 and a 200-day moving average price of GBX 850.23. Beazley has a one year low of GBX 611 ($8.25) and a one year high of GBX 957 ($12.92). The firm has a market cap of £7.29 billion, a price-to-earnings ratio of 5.93, a P/E/G ratio of 1.57 and a beta of 0.68.
Beazley (LON:BEZ - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported GBX 137 ($1.85) EPS for the quarter. Beazley had a net margin of 22.82% and a return on equity of 32.60%. As a group, sell-side analysts predict that Beazley will post 101.6172507 EPS for the current fiscal year.
Beazley declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Insider Buying and Selling
In other Beazley news, insider Adrian Cox sold 27,772 shares of Beazley stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of GBX 902 ($12.17), for a total value of £250,503.44 ($338,106.95). 2.31% of the stock is currently owned by company insiders.
About Beazley
(Get Free Report)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.
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