Lancashire (LON:LRE) Shares Down 9.3% on Analyst Downgrade

Lancashire Holdings Limited (LON:LRE) shares dropped 9.3% during mid-day trading on Thursday after Jefferies Financial Group lowered their price target on the stock from GBX 820 to GBX 736. Jefferies Financial Group currently has a buy rating on the stock. Lancashire traded as low as GBX 592 and last traded at GBX 593. Approximately 644,632 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 1,191,656 shares. The stock had previously closed at GBX 654.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Lancashire in a research report on Friday, July 18th. Peel Hunt restated a “hold” rating and set a GBX 645 target price on shares of Lancashire in a research report on Wednesday, November 5th. Royal Bank Of Canada increased their price target on shares of Lancashire from GBX 600 to GBX 625 and gave the company an “underperform” rating in a report on Thursday, November 6th. Citigroup upped their target price on shares of Lancashire from GBX 696 to GBX 725 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Berenberg Bank lifted their price target on shares of Lancashire from GBX 670 to GBX 700 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of GBX 686.20.

Insider Activity

In related news, insider Philip Broadley acquired 4,700 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were bought at an average cost of GBX 637 per share, with a total value of £29,939. Also, insider Bryan Joseph bought 1,200 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of GBX 609 per share, with a total value of £7,308. Insiders own 4.61% of the company’s stock.

Lancashire Price Performance

The business’s 50 day moving average price is GBX 651.78 and its 200-day moving average price is GBX 617.12. The company has a quick ratio of 1.18, a current ratio of 33.62 and a debt-to-equity ratio of 31.26. The company has a market cap of £1.44 billion, a PE ratio of 6.45, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62.

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.