Lancashire (LON:LRE) Reaches New 52-Week High - Here's Why

Key Points

• Lancashire shares reached a new 52-week high of GBX 694.50 and last traded at GBX 691, up 0.6%, giving the company a market capitalization of approximately £1.67 billion.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with an average price target of GBX 663.17. Targets range from GBX 560 and an “underperform” rating at RBC to GBX 700 and a “hold” rating at Berenberg.
• Insider Philip Broadley purchased 1,745 shares at GBX 630 each, while insiders collectively own 5.31% of Lancashire’s stock.

Lancashire Holdings Limited (LON:LRE - Get Free Report) hit a new 52-week high on Friday. The stock traded as high as GBX 694.50 and last traded at GBX 691, with a volume of 19,163 shares changing hands. The stock had previously closed at GBX 684.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LRE. Royal Bank Of Canada reduced their price objective on shares of Lancashire from GBX 580 to GBX 560 and set an "underperform" rating on the stock in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 691 target price on shares of Lancashire in a research report on Tuesday, October 13th. Finally, Berenberg Bank reissued a "hold" rating and issued a GBX 700 price target on shares of Lancashire in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of GBX 663.17.

Lancashire Stock Up 0.6%

The stock has a market cap of £1.67 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 0.21 and a beta of 0.46. The stock's fifty day moving average is GBX 644.12 and its 200-day moving average is GBX 624.48.

Insider Activity

In other news, insider Philip Broadley purchased 1,745 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of GBX 630 per share, with a total value of £10,993.50. 5.31% of the stock is owned by company insiders.

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. The company also provides Marine Builders Risk, marine hull, total loss and war, mortgagees interests insurance, mortgagees additional perils, excess protection and indemnity, marine war, and builder's risks; and energy insurance products covering upstream operational, downstream and onshore operational, and upstream construction all risks business.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.