Beazley (LON:BEZ) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Beazley plc (LON:BEZ) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 870.20 ($11.70) and traded as high as GBX 941 ($12.65). Beazley shares last traded at GBX 934.50 ($12.57), with a volume of 3,669,205 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank initiated coverage on Beazley in a report on Thursday, May 29th. They set a “buy” rating and a GBX 1,150 ($15.47) price objective for the company.

Beazley Stock Up 1.0%

The stock has a market capitalization of £7.18 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 1.57 and a beta of 0.68. The company has a 50 day moving average of GBX 916.02 and a 200 day moving average of GBX 870.20.

Beazley announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Beazley Company Profile

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.