JPMorgan Chase & Co. Upgrades Lancashire (LRE) to Neutral
Several other brokerages have also recently weighed in on LRE. raised shares of Lancashire to a buy rating and increased their price target for the company from GBX 683 ($9.26) to GBX 863 ($11.70) in a research report on Monday, November 6th. Royal Bank of Canada restated a sector performer rating on shares of Lancashire in a report on Tuesday, November 28th. Morgan Stanley upped their price objective on shares of Lancashire from GBX 630 ($8.54) to GBX 716 ($9.71) and gave the stock an equal weight rating in a report on Wednesday, November 8th. HSBC restated a buy rating and issued a GBX 863 ($11.70) price objective on shares of Lancashire in a report on Thursday, November 23rd. Finally, Shore Capital restated a buy rating on shares of Lancashire in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Lancashire has a consensus rating of Hold and an average target price of GBX 689.57 ($9.35).
Shares of Lancashire (LON:LRE) opened at GBX 670 ($9.09) on Friday. The firm has a market cap of $1,350.00 and a price-to-earnings ratio of -11,166.67. Lancashire has a 12-month low of GBX 608 ($8.25) and a 12-month high of GBX 773.50 ($10.49).
In other Lancashire news, insider Peter Clarke acquired 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were bought at an average price of GBX 746 ($10.12) per share, with a total value of £223,800 ($303,498.78).
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Lancashire Company Profile
Lancashire Holdings Limited is a holding company. The Company’s principal activity, through its subsidiaries, is the provision of global specialty insurance and reinsurance products. The Company operates through five segments: Property, Energy, Marine, Aviation and Lloyd’s. It underwrites worldwide, insurance and reinsurance contracts that transfer insurance risk, including risks exposed to both natural and man-made catastrophes.
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