Lancashire Holdings Limited (LON:LRE)’s share price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as GBX 827 ($10.88) and last traded at GBX 807 ($10.62), with a volume of 310555 shares trading hands. The stock had previously closed at GBX 772 ($10.16).
The newly announced dividend which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 7th will be issued a dividend of $0.10 per share. This represents a yield of 0.97%. This is a positive change from Lancashire’s previous dividend of $0.05. The ex-dividend date is Thursday, May 7th. Lancashire’s payout ratio is presently 80.00%.
A number of equities research analysts have weighed in on LRE shares. Royal Bank of Canada boosted their target price on shares of Lancashire from GBX 800 ($10.52) to GBX 850 ($11.18) and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Peel Hunt reissued a “hold” rating on shares of Lancashire in a report on Monday, February 10th. Goldman Sachs Group started coverage on shares of Lancashire in a report on Monday, February 3rd. They set a “buy” rating and a GBX 860 ($11.31) target price on the stock. Investec raised shares of Lancashire to an “add” rating in a report on Wednesday, December 11th. Finally, Shore Capital reissued a “hold” rating on shares of Lancashire in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of GBX 733.83 ($9.65).
The company has a debt-to-equity ratio of 31.04, a quick ratio of 1.48 and a current ratio of 2.19. The stock has a market capitalization of $1.61 billion and a P/E ratio of 7,930.00. The stock’s fifty day simple moving average is GBX 763.33 and its two-hundred day simple moving average is GBX 724.74.
About Lancashire (LON:LRE)
Lancashire Holdings Limited provides specialty insurance and reinsurance products worldwide. The company operates through five segments: Property, Energy, Marine, Aviation, and Lloyd's. It offers aviation insurance solutions; coverage for upstream operational and construction all risks related to wind, earthquakes, and floods, as well as standalone business interruption coverage; and coverage in marine portfolio, including marine hull, total loss only, mortgagees interests insurance, mortgagees additional perils, excess protection and indemnity, marine war, and builder's risks to high-profile accounts, cruise vessels, and liquid natural gas carriers.
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