Beazley (LON:BEZ) Trading 40.5% Higher – Here’s What Happened

Beazley plc (LON:BEZ) was up 40.5% during mid-day trading on Monday . The company traded as high as GBX 1,195 and last traded at GBX 1,152.45. Approximately 15,440,655 shares were traded 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 Beazley News

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

Analyst Upgrades and Downgrades

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

Beazley Stock Performance

The company has a fifty day moving average price of GBX 834.24 and a two-hundred day moving average price of GBX 857.33. The company has a market cap of £6.79 billion, a P/E 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.