Lancashire (LON:LRE) Shares Cross Below Fifty Day Moving Average – Here’s Why

Lancashire Holdings Limited (LON:LRE)’s share price passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of GBX 660.08 and traded as low as GBX 639. Lancashire shares last traded at GBX 646.50, with a volume of 677,144 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on LRE. Berenberg Bank reiterated a “hold” rating and issued a GBX 700 price objective on shares of Lancashire in a research report on Thursday, July 30th. Royal Bank Of Canada dropped their target price on Lancashire from GBX 580 to GBX 560 and set an “underperform” rating on the stock in a research report on Thursday, July 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 691 price target on shares of Lancashire in a research note on Wednesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 652.25.

Lancashire Price Performance

The stock has a market cap of £1.60 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 0.21 and a beta of 0.46. The firm has a fifty day moving average of GBX 660.08 and a 200 day moving average of GBX 628.42.

Insider Activity

In other news, insider Philip Broadley purchased 1,745 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were bought 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.

About Lancashire

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.