Beazley (LON:BEZ) Cut to Neutral at Citigroup

Beazley (LON:BEZ) was downgraded by investment analysts at Citigroup to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports. They currently have a GBX 1,280 target price on the stock, up from their prior target price of GBX 1,025. Citigroup’s price objective indicates a potential upside of 13.17% from the company’s previous close.

Several other analysts have also issued reports on the stock. Jefferies Financial Group upped their target price on shares of Beazley from GBX 1,000 to GBX 1,040 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada lifted their target price on shares of Beazley from GBX 1,000 to GBX 1,100 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. cut their price target on shares of Beazley from GBX 1,050 to GBX 1,025 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Peel Hunt restated an “add” rating and set a GBX 900 price target on shares of Beazley in a research report on Tuesday, November 25th. Finally, Berenberg Bank lowered their price objective on 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. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Beazley has an average rating of “Moderate Buy” and a consensus price target of GBX 1,074.17.

Beazley Price Performance

LON BEZ opened at GBX 1,131 on Thursday. The stock has a market capitalization of £6.67 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.57 and a beta of 0.68. Beazley has a one year low of GBX 750 and a one year high of GBX 1,199. The business has a 50 day simple moving average of GBX 844.03 and a 200 day simple moving average of GBX 861.06.

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.