Beazley (LON:BEZ) Shares Down 10.5% - Here's Why

Key Points

• Beazley plc shares fell by 10.5% to last trade at GBX 815.88 ($11.01), with trading volume significantly increased to 15,753,123 shares.
• Berenberg Bank maintained a "buy" rating for Beazley and set a price target of GBX 1,150 ($15.53) on July 14th.
• The company is valued at £6.18 billion and has a PE ratio of 5.03, indicating a potentially undervalued stock.

Beazley plc (LON:BEZ - Get Free Report) shares were down 10.5% during mid-day trading on Wednesday . The company traded as low as GBX 804 ($10.90) and last traded at GBX 815.88 ($11.06). Approximately 15,753,123 shares traded hands during mid-day trading, an increase of 272% from the average daily volume of 4,234,411 shares. The stock had previously closed at GBX 912 ($12.36).

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BEZ shares. Royal Bank Of Canada decreased their target price on shares of Beazley from GBX 1,125 ($15.25) to GBX 1,000 ($13.55) and set an "outperform" rating for the company in a research report on Thursday. Berenberg Bank restated a "buy" rating and set a GBX 1,150 ($15.59) price objective on shares of Beazley in a research report on Wednesday.

Beazley Stock Performance

The company's 50 day moving average price is GBX 906.55 and its 200 day moving average price is GBX 892.66. The company has a market cap of £6.03 billion, a price-to-earnings ratio of 4.91, a P/E/G ratio of 1.57 and a beta of 0.68.

Insider Transactions at Beazley

In related news, insider Carolyn Johnson purchased 22,800 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of GBX 776 ($10.52) per share, with a total value of £176,928 ($239,804.83). Also, insider John Reizenstein purchased 5,089 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of GBX 786 ($10.65) per share, with a total value of £39,999.54 ($54,214.61). Insiders purchased 29,161 shares of company stock valued at $22,692,546 over the last ninety days. 2.31% of the stock is currently owned by company insiders.

Beazley Company Profile

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.