Lancashire (LON:LRE) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Lancashire Holdings stock recently crossed above its 200-day moving average of GBX 594.67, trading at GBX 652 ($8.70) with significant trading volume.
• Analysts have mixed views on the stock, with Citigroup upgrading it to a "buy" rating and a price target of GBX 696, while Peel Hunt and others maintain a "hold" rating with lower targets.
• Insiders have shown confidence in the company by purchasing shares, with notable transactions including a purchase at GBX 637 per share, indicating positive sentiment among company leadership.

Lancashire Holdings Limited (LON:LRE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 594.67 ($7.94) and traded as high as GBX 662 ($8.83). Lancashire shares last traded at GBX 652 ($8.70), with a volume of 568,246 shares traded.

Wall Street Analysts Forecast Growth

LRE has been the subject of a number of recent analyst reports. Peel Hunt cut shares of Lancashire to a "hold" rating and lifted their price target for the company from GBX 630 to GBX 645 in a research report on Thursday, August 21st. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Lancashire in a research report on Friday, July 18th. Citigroup lifted their price target on shares of Lancashire from GBX 656 to GBX 696 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Berenberg Bank reiterated a "hold" rating and set a GBX 670 price target on shares of Lancashire in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 750 price target on shares of Lancashire in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Lancashire has a consensus rating of "Hold" and an average target price of GBX 690.25.

Lancashire Stock Up 0.5%

The company has a current ratio of 33.62, a quick ratio of 1.18 and a debt-to-equity ratio of 31.26. The company has a market capitalization of £1.58 billion, a price-to-earnings ratio of 708.70, a PEG ratio of 0.21 and a beta of 0.62. The firm's 50 day simple moving average is GBX 620.84 and its 200-day simple moving average is GBX 594.67.

Insider Buying and Selling at Lancashire

In related news, insider Philip Broadley purchased 4,700 shares of the stock in a transaction dated Thursday, September 18th. The shares were acquired at an average cost of GBX 637 per share, with a total value of £29,939. Also, insider Bryan Joseph purchased 1,200 shares of the stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of GBX 609 per share, for a total transaction of £7,308. Insiders own 4.61% of the company's stock.

Lancashire Company Profile

Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, Australia, and the United States. The company operates through two segments, Reinsurance and Insurance. It offers property direct and facultative, property political risk and sovereign risk, and property terrorism and political violence insurance products; and aviation AV52, aviation consortium, airline hull and liability, and satellite insurance products.

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