Royal Bank Of Canada Lowers Beazley (LON:BEZ) Price Target to GBX 1,000

Key Points

• Royal Bank of Canada lowered its price target for Beazley from GBX 1,125 to GBX 1,000, while maintaining an "outperform" rating on the stock.
• Beazley shares traded down GBX 21.04 during Thursday's trading, closing at GBX 778.96, signaling underperformance in comparison to its 52-week high of GBX 983.50.
• Insider John Reizenstein purchased over 5,000 shares at an average price of GBX 786, reflecting confidence in the company despite the recent price target reduction.

Beazley (LON:BEZ - Get Free Report) had its price target decreased by analysts at Royal Bank Of Canada from GBX 1,125 ($15.28) to GBX 1,000 ($13.58) in a report released on Thursday,Digital Look reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 28.38% from the company's current price.

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 1,150 ($15.62) target price on shares of Beazley in a report on Monday, July 14th.

Beazley Stock Performance

Shares of LON:BEZ traded down GBX 21.04 ($0.29) during trading hours on Thursday, hitting GBX 778.96 ($10.58). 5,764,542 shares of the company's stock traded hands, compared to its average volume of 4,194,171. Beazley has a 52 week low of GBX 727.50 ($9.88) and a 52 week high of GBX 983.50 ($13.36). The company's fifty day simple moving average is GBX 913.92 and its two-hundred day simple moving average is GBX 893.22. The company has a market cap of £5.99 billion, a price-to-earnings ratio of 4.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68.

Insider Activity at Beazley

In other news, insider John Reizenstein purchased 5,089 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of GBX 786 ($10.67) per share, with a total value of £39,999.54 ($54,317.68). 2.31% of the stock is currently owned by corporate insiders.

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.

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