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

Key Points

• Beazley plc shares plunged by 12.3% on Wednesday, trading as low as GBX 800 ($10.86), following a significant increase in trading volume.
• Despite the recent drop, Berenberg Bank reaffirmed a "buy" rating for Beazley, setting a price target of GBX 1,150 ($15.62).
• Beazley operates in various insurance segments including Cyber Risks and has a market cap of £6.08 billion with a price-to-earnings ratio of 4.95.

Beazley plc (LON:BEZ - Get Free Report) traded down 12.3% on Wednesday . The stock traded as low as GBX 800 ($10.85) and last traded at GBX 800 ($10.85). 7,905,354 shares traded hands during trading, an increase of 89% from the average session volume of 4,184,105 shares. The stock had previously closed at GBX 912 ($12.37).

Analyst Ratings Changes

A number of research firms recently issued reports on BEZ. Berenberg Bank restated a "buy" rating and set a GBX 1,150 ($15.60) price objective on shares of Beazley in a report on Wednesday, August 13th. Royal Bank Of Canada dropped their price objective on Beazley from GBX 1,125 ($15.26) to GBX 1,000 ($13.56) and set an "outperform" rating for the company in a report on Thursday.

Beazley Stock Performance

The company has a market cap of £6.07 billion, a PE ratio of 4.94, a PEG ratio of 1.57 and a beta of 0.68. The stock has a fifty day moving average of GBX 906.55 and a 200-day moving average of GBX 893.42.

Insider Activity

In related news, insider Carolyn Johnson acquired 22,800 shares of the stock in a transaction on 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 ($239,934.91). Also, insider John Reizenstein bought 5,089 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of GBX 786 ($10.66) per share, with a total value of £39,999.54 ($54,244.02). Over the last three months, insiders acquired 29,161 shares of company stock valued at $22,692,546. 2.31% of the stock is owned by corporate 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.