Beazley (LON:BEZ) Hits New 12-Month High – Time to Buy?

Beazley plc (LON:BEZ)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 960 ($12.99) and last traded at GBX 958.50 ($12.97), with a volume of 2125005 shares traded. The stock had previously closed at GBX 947 ($12.81).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank initiated coverage on shares of Beazley in a research report on Thursday, May 29th. They issued a “buy” rating and a GBX 1,150 ($15.56) price target on the stock.

Beazley Stock Up 0.7%

The stock’s 50-day simple moving average is GBX 902.90 and its 200 day simple moving average is GBX 858.96. The firm has a market cap of £7.45 billion, a P/E ratio of 6.07, a PEG ratio of 1.57 and a beta of 0.68.

Beazley (LON:BEZ) last announced its quarterly earnings data on Tuesday, March 4th. The company reported GBX 137 ($1.85) earnings per share (EPS) for the quarter. Beazley had a return on equity of 32.60% and a net margin of 22.82%. On average, research analysts forecast that Beazley plc will post 101.6172507 earnings per share for the current fiscal year.

Beazley declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.