Beazley (LON:BEZ) Stock Price Up 40.5% – Time to Buy?

Shares of Beazley plc (LON:BEZ) shot up 40.5% on Monday . The stock traded as high as GBX 1,195 and last traded at GBX 1,152.45. 15,440,655 shares changed hands during trading, an increase of 107% from the average session volume of 7,449,580 shares. The stock had previously closed at GBX 820.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEZ. Berenberg Bank reduced their price target on shares of Beazley from GBX 1,150 to GBX 1,100 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Peel Hunt reiterated an “add” rating and issued a GBX 900 target price on shares of Beazley in a report on Tuesday, November 25th. Jefferies Financial Group boosted their target price on Beazley from GBX 1,000 to GBX 1,040 and gave the company a “buy” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their price target on Beazley from GBX 1,050 to GBX 1,025 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Finally, Royal Bank Of Canada lifted their price objective on Beazley from GBX 1,000 to GBX 1,100 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 1,033.

Beazley Stock Up 2.3%

The business’s fifty day moving average is GBX 839.13 and its two-hundred day moving average is GBX 859.03. The stock has a market cap of £6.79 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.57 and a beta of 0.68.

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.