Beazley (LON:BEZ) Shares Down 12.3% - Here's Why

Key Points

• Beazley plc's shares plummeted by 12.3%, trading at GBX 800 ($10.86), with trading volume nearly doubling the average daily volume.
• Berenberg Bank maintained a "buy" rating and set a new price target of GBX 1,150 ($15.62) for Beazley shares.
• Beazley operates in the risk insurance and reinsurance sector, with distinct segments including Cyber Risks and Property Risks.

Beazley plc (LON:BEZ - Get Free Report)'s stock price was down 12.3% on Wednesday . The company traded as low as GBX 800 ($10.86) and last traded at GBX 800 ($10.86). Approximately 7,905,354 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 4,184,105 shares. The stock had previously closed at GBX 912 ($12.38).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 1,150 ($15.62) price target on shares of Beazley in a research report on Monday, July 14th.

Beazley Stock Down 12.3%

The business has a 50-day simple moving average of GBX 913.92 and a two-hundred day simple moving average of GBX 893.22. The company has a market cap of £6.15 billion, a price-to-earnings ratio of 5.01, a PEG 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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