Lancashire (LON:LRE) Trading Down 9.3% Following Analyst Downgrade

Lancashire Holdings Limited (LON:LRE) dropped 9.3% during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from GBX 820 to GBX 736. Jefferies Financial Group currently has a buy rating on the stock. Lancashire traded as low as GBX 592 and last traded at GBX 593. Approximately 637,644 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,191,625 shares. The stock had previously closed at GBX 654.

A number of other analysts have also weighed in on the stock. Berenberg Bank increased their price objective on shares of Lancashire from GBX 670 to GBX 700 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Lancashire in a research report on Friday, July 18th. Peel Hunt restated a “hold” rating and issued a GBX 645 price objective on shares of Lancashire in a research report on Wednesday, November 5th. Royal Bank Of Canada increased their target price on shares of Lancashire from GBX 600 to GBX 625 and gave the stock an “underperform” rating in a research note on Thursday, November 6th. Finally, Citigroup increased their target price on Lancashire from GBX 696 to GBX 725 and gave the company a “buy” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 686.20.

Insiders Place Their Bets

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

Lancashire Stock Performance

The firm has a market capitalization of £1.44 billion, a price-to-earnings ratio of 6.45, a PEG ratio of 0.21 and a beta of 0.62. The firm has a 50 day moving average price of GBX 651.78 and a 200-day moving average price of GBX 617.12. The company has a debt-to-equity ratio of 31.26, a current ratio of 33.62 and a quick ratio of 1.18.

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.