Beazley (LON:BEZ) Shares Up 40.5% – Still a Buy?

Beazley plc (LON:BEZ)’s stock price rose 40.5% on Monday . The company traded as high as GBX 1,195 and last traded at GBX 1,152.45. Approximately 15,440,655 shares changed hands during trading, an increase of 107% from the average daily volume of 7,449,580 shares. The stock had previously closed at GBX 820.

Key Stories Impacting Beazley

Here are the key news stories impacting Beazley this week:

• Positive Sentiment: Takeover interest raises chance of a takeover premium or renewed, improved offers, which could push BEZ’s valuation above current trading levels. Beazley Rejects Initial Zurich Approach as Takeover Talks Loom
• Neutral Sentiment: Announcement increases near?term volume and volatility; the move may attract activist or rival bidders but also could simply be preliminary talk that does not lead to a deal. Beazley Rejects Initial Zurich Approach as Takeover Talks Loom
• Negative Sentiment: Rejection of the initial bid signals the offer was too low; until a firm, attractive proposal emerges there is uncertainty that could weigh on the stock and prompt short?term trading swings. Beazley Rejects Initial Zurich Approach as Takeover Talks Loom

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Beazley from GBX 1,050 to GBX 1,025 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Peel Hunt reissued an “add” rating and set a GBX 900 price target on shares of Beazley in a research report on Tuesday, November 25th. Royal Bank Of Canada lifted their price objective on shares of Beazley from GBX 1,000 to GBX 1,100 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Berenberg Bank cut their target price on shares of Beazley from GBX 1,150 to GBX 1,100 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group increased their target price on shares of Beazley from GBX 1,000 to GBX 1,040 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 1,033.

Beazley Stock Up 40.5%

The company’s fifty day moving average is GBX 834.24 and its two-hundred day moving average is GBX 857.33. The stock has a market cap of £6.79 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.57 and a beta of 0.68.

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. The Digital segment underwrites various marine, contingency, and SME liability risks through digital channels, such as e-trading platforms and broker portals. The MAP Risks segment underwrites marine, portfolio underwriting and political, and contingency business.