Beazley (LON:BEZ) Shares Down 7.1% - Here's Why

Key Points

• Beazley plc's shares experienced a significant decline of 7.1% during mid-day trading, dropping to as low as GBX 833.50 ($11.25) before closing at GBX 847 ($11.44).
• Berenberg Bank has reaffirmed a "buy" rating for Beazley, setting a new target price of GBX 1,150 ($15.53) for the stock.
• Beazley operates in various segments including Cyber Risks and Specialty Risks and has a market capitalization of £6.24 billion with a P/E ratio of 5.08.

Beazley plc (LON:BEZ - Get Free Report)'s share price fell 7.1% during mid-day trading on Wednesday . The stock traded as low as GBX 833.50 ($11.30) and last traded at GBX 847 ($11.48). 13,514,597 shares changed hands during mid-day trading, an increase of 220% from the average session volume of 4,220,062 shares. The stock had previously closed at GBX 912 ($12.36).

Analyst Ratings Changes

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

Beazley Stock Performance

The firm has a market cap of £6.03 billion, a P/E ratio of 4.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. The firm's fifty day moving average price is GBX 906.55 and its 200 day moving average price is GBX 892.66.

Insider Activity

In other 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 price of GBX 776 ($10.52) per share, for a total transaction of £176,928 ($239,804.83). Also, insider John Reizenstein acquired 5,089 shares of Beazley stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of GBX 786 ($10.65) per share, with a total value of £39,999.54 ($54,214.61). In the last 90 days, insiders bought 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.