Beazley (LON:BEZ) Stock Price Down 12.3% - Should You Sell?

Key Points

• Beazley's stock price dropped by 12.3% during mid-day trading, reaching a low of GBX 800 ($10.80), significantly down from a previous close of GBX 912 ($12.31).
• Despite the decline, Berenberg Bank has reiterated a "buy" rating for Beazley, setting a price target of GBX 1,150 ($15.53).
• The company's market capitalization stands at £6.15 billion, with a P/E ratio of 5.01, indicating potential value amidst the recent stock price drop.

Beazley plc (LON:BEZ - Get Free Report) was down 12.3% during trading on Wednesday . The company traded as low as GBX 800 ($10.85) and last traded at GBX 800 ($10.85). 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 ($12.37).

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BEZ. Berenberg Bank reiterated a "buy" rating and set a GBX 1,150 ($15.60) price target on shares of Beazley in a research note 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 on the stock in a report on Thursday.

Beazley Trading Up 0.6%

The business has a 50 day moving average price of GBX 906.55 and a 200-day moving average price of GBX 893.42. The firm has a market capitalization of £6.07 billion, a PE ratio of 4.94, a P/E/G ratio of 1.57 and a beta of 0.68.

Insider Buying and Selling at Beazley

In related news, insider Robert A. Stuchbery purchased 6,400 shares of the business's stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of GBX 785 ($10.65) per share, with a total value of £50,240 ($68,131.27). Also, insider Carolyn Johnson bought 22,800 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of GBX 776 ($10.52) per share, with a total value of £176,928 ($239,934.91). Over the last 90 days, insiders have bought 35,561 shares of company stock valued at $27,716,546. Insiders own 2.31% of the company's stock.

About Beazley

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.