Lancashire (LON:LRE) Reaches New 52-Week High – Here’s Why

Lancashire Holdings Limited (LON:LRE)’s stock price hit a new 52-week high on Thursday. The company traded as high as GBX 690.25 and last traded at GBX 689, with a volume of 667,532 shares. The stock had previously closed at GBX 673.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LRE. Royal Bank Of Canada reduced their price target on shares of Lancashire from GBX 580 to GBX 560 and set an “underperform” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 691 price objective on shares of Lancashire in a research report on Tuesday. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 700 price objective on shares of Lancashire in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 663.17.

Lancashire Trading Up 2.3%

The business has a 50-day moving average price of GBX 625.36 and a two-hundred day moving average price of GBX 620.37. The firm has a market capitalization of £1.67 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 0.21 and a beta of 0.46.

Insider Transactions at Lancashire

In related news, insider Philip Broadley acquired 1,745 shares of Lancashire stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average price of GBX 630 per share, for a total transaction of £10,993.50. 5.31% of the stock is owned by corporate insiders.

About Lancashire

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. The company also provides Marine Builders Risk, marine hull, total loss and war, mortgagees interests insurance, mortgagees additional perils, excess protection and indemnity, marine war, and builder's risks; and energy insurance products covering upstream operational, downstream and onshore operational, and upstream construction all risks business.