Beazley (LON:BEZ) Stock Price Down 9% - Here's What Happened

Key Points

• Beazley plc's share price dropped by 9% on Wednesday, with the stock trading as low as GBX 829.50 and showing significant trading volume increases.
• Despite this decline, Berenberg Bank maintained a "buy" rating and set a target price of GBX 1,150 for Beazley shares.
• Beazley specializes in risk insurance and reinsurance solutions across multiple regions, including the US and Europe, with various operational segments like Cyber Risks and Specialty Risks.

Beazley plc (LON:BEZ - Get Free Report)'s share price was down 9% during mid-day trading on Wednesday . The company traded as low as GBX 829.50 ($11.24) and last traded at GBX 830.05 ($11.25). Approximately 14,231,480 shares were traded during trading, an increase of 237% from the average daily volume of 4,224,657 shares. The stock had previously closed at GBX 912 ($12.36).

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank Of Canada cut their price target on Beazley from GBX 1,125 ($15.25) to GBX 1,000 ($13.55) and set an "outperform" rating for the company in a research note on Thursday. Berenberg Bank reissued a "buy" rating and issued a GBX 1,150 ($15.59) target price on shares of Beazley in a research note on Wednesday.

Beazley Price Performance

The firm has a market capitalization of £6.03 billion, a PE ratio of 4.91, a P/E/G ratio of 1.57 and a beta of 0.68. The firm has a fifty day moving average price of GBX 906.55 and a 200 day moving average price of GBX 892.66.

Insider Activity

In other Beazley news, insider Carolyn Johnson acquired 22,800 shares of Beazley 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 ($239,804.83). Also, insider John Reizenstein bought 5,089 shares of the company's stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of GBX 786 ($10.65) per share, for a total transaction of £39,999.54 ($54,214.61). Over the last three months, insiders purchased 29,161 shares of company stock valued at $22,692,546. Company 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.