Lancashire (LON:LRE) Reaches New 12-Month High – Should You Buy?

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

Wall Street Analysts Forecast Growth

LRE has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 691 price target on shares of Lancashire in a report on Tuesday. 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. Finally, Royal Bank Of Canada decreased their price objective on shares of Lancashire from GBX 580 to GBX 560 and set an “underperform” rating for the company in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 663.17.

Lancashire Stock Performance

The business has a fifty day simple moving average of GBX 625.36 and a 200 day simple moving average of GBX 620.37. The company has a market cap of £1.67 billion, a P/E ratio of 5.34, a P/E/G ratio of 0.21 and a beta of 0.46.

Insider Buying and Selling at Lancashire

In other news, insider Philip Broadley purchased 1,745 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of GBX 630 per share, for a total transaction of £10,993.50. Company insiders own 5.31% of the company’s stock.

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. 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.