Berenberg Bank started coverage on shares of Beazley (LON:BEZ - Free Report) in a research note released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a GBX 1,150 ($15.48) target price on the stock.
Beazley Stock Performance
Shares of LON BEZ traded up GBX 12.50 ($0.17) during midday trading on Thursday, reaching GBX 943.50 ($12.70). The stock had a trading volume of 6,958,354 shares, compared to its average volume of 5,338,017. The firm has a market cap of £7.25 billion, a price-to-earnings ratio of 5.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. Beazley has a twelve month low of GBX 611 ($8.22) and a twelve month high of GBX 957 ($12.88). The company's 50 day moving average price is GBX 898.75 and its 200 day moving average price is GBX 852.22.
Beazley (LON:BEZ - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported GBX 137 ($1.84) earnings per share (EPS) for the quarter. Beazley had a net margin of 22.82% and a return on equity of 32.60%. Equities analysts forecast that Beazley will post 101.6172507 earnings per share for the current fiscal year.
Beazley Increases Dividend
The business also recently disclosed a dividend, which was paid on Friday, May 2nd. Stockholders of record on Thursday, March 20th were paid a GBX 25 ($0.34) dividend. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 2.77%. This is a positive change from Beazley's previous dividend of $14.20. Beazley's payout ratio is currently 8.76%.
Beazley announced that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Insider Activity
In other news, insider Adrian Cox sold 27,772 shares of Beazley stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of GBX 902 ($12.14), for a total value of £250,503.44 ($337,151.33). 2.31% of the stock is currently owned by company insiders.
Beazley Company Profile
(
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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