Beazley (LON:BEZ) Shares Down 11.5% - Time to Sell?

Key Points

• Beazley plc shares fell by 11.5% during trading, reaching a low of GBX 801 ($10.81), and saw a significant increase in trading volume at 17.3 million shares.
• Despite the drop, Berenberg Bank has maintained a "buy" rating with a price target of GBX 1,150 ($15.53).
• The company's market cap is approximately £6.15 billion, with a price-to-earnings ratio of 5.01.

Beazley plc (LON:BEZ - Get Free Report) fell 11.5% during trading on Wednesday . The company traded as low as GBX 801 ($10.81) and last traded at GBX 807 ($10.90). 17,261,000 shares traded hands during mid-day trading, an increase of 307% from the average session volume of 4,244,077 shares. The stock had previously closed at GBX 912 ($12.31).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 1,150 ($15.53) price objective on shares of Beazley in a report on Monday, July 14th.

Beazley Price Performance

The firm's fifty day moving average is GBX 917.09 and its two-hundred day moving average is GBX 893.87. The firm has a market cap of £6.15 billion, a price-to-earnings ratio of 5.01, a P/E/G ratio of 1.57 and a beta of 0.68.

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.

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