Beazley (LON:BEZ) Trading Down 12.3% - Here's What Happened

Key Points

• Beazley plc's stock decreased by 12.3%, closing at GBX 800 ($10.80), with a trading volume significantly higher than the average.
• Berenberg Bank maintained a "buy" rating for Beazley, setting a price target of GBX 1,150 ($15.53).
• The company operates in various segments including Cyber Risks, providing specialized risk insurance and reinsurance solutions internationally.

Beazley plc (LON:BEZ - Get Free Report)'s stock price traded down 12.3% during mid-day trading on Wednesday . The company traded as low as GBX 800 ($10.81) and last traded at GBX 800 ($10.81). 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 ($12.32).

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Berenberg Bank restated a "buy" rating and set a GBX 1,150 ($15.53) price objective on shares of Beazley in a research note on Wednesday, August 13th. Royal Bank Of Canada decreased their price target on Beazley from GBX 1,125 ($15.20) to GBX 1,000 ($13.51) and set an "outperform" rating on the stock in a research report on Thursday.

Beazley Stock Performance

The stock's fifty day moving average price is GBX 902.83 and its two-hundred day moving average price is GBX 893.07. The company has a market cap of £6.07 billion, a P/E 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 other Beazley news, insider Carolyn Johnson acquired 22,800 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of GBX 776 ($10.48) per share, for a total transaction of £176,928 ($238,995.00). Also, insider Robert A. Stuchbery acquired 6,400 shares of Beazley stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average cost of GBX 785 ($10.60) per share, for a total transaction of £50,240 ($67,864.38). Insiders bought a total of 35,561 shares of company stock worth $27,716,546 over the last three months. Corporate insiders own 2.31% of the company's stock.

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.