Lancashire (LON:LRE) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Lancashire Holdings Limited (LON:LRE)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 606.15 ($8.10) and traded as high as GBX 642 ($8.58). Lancashire shares last traded at GBX 642 ($8.58), with a volume of 269,671 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LRE. Citigroup lifted their price target on Lancashire from GBX 656 to GBX 696 and gave the company a “buy” rating in a report on Wednesday, August 13th. Peel Hunt lowered Lancashire to a “hold” rating and lifted their price objective for the stock from GBX 630 to GBX 645 in a research report on Thursday, August 21st. Berenberg Bank reiterated a “hold” rating and issued a GBX 670 price objective on shares of Lancashire in a research report on Thursday, August 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Lancashire in a research report on Friday, July 18th. Finally, Royal Bank Of Canada lowered Lancashire to an “underperform” rating and lowered their price objective for the stock from GBX 750 to GBX 600 in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 652.75.

Lancashire Price Performance

The company has a market capitalization of £1.56 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62. The company has a 50-day moving average price of GBX 635.50 and a 200-day moving average price of GBX 606.15. The company has a debt-to-equity ratio of 31.26, a quick ratio of 1.18 and a current ratio of 33.62.

Insider Activity at Lancashire

In other news, insider Bryan Joseph bought 1,200 shares of the business’s stock in a transaction on Friday, August 15th. The shares were purchased at an average price of GBX 609 per share, for a total transaction of £7,308. Also, insider Philip Broadley bought 4,700 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was purchased at an average price of GBX 637 per share, for a total transaction of £29,939. 4.61% of the stock is owned by corporate insiders.

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.