Beazley (LON:BEZ) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Shares of Beazley plc (LON:BEZ - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 864 ($11.72) and traded as high as GBX 939.50 ($12.75). Beazley shares last traded at GBX 920.50 ($12.49), with a volume of 1,802,097 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank started coverage on Beazley in a report on Thursday, May 29th. They issued a "buy" rating and a GBX 1,150 ($15.60) price objective on the stock.

Beazley Stock Performance

The stock has a market capitalization of £7.06 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 1.57 and a beta of 0.68. The business has a 50-day moving average of GBX 909.03 and a 200-day moving average of GBX 864.93.

Beazley declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.