Lancashire Holdings Limited (LON:LRE – Get Free Report) shares dropped 8.2% during trading on Monday . The stock traded as low as GBX 621 ($8.13) and last traded at GBX 628 ($8.22). Approximately 575,550 shares traded hands during trading, a decline of 24% from the average daily volume of 755,950 shares. The stock had previously closed at GBX 684 ($8.95).
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank reissued a “buy” rating and set a GBX 800 ($10.47) price target on shares of Lancashire in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Lancashire has an average rating of “Moderate Buy” and an average target price of GBX 781 ($10.22).
Check Out Our Latest Report on Lancashire
Lancashire Trading Up 1.1 %
Lancashire Cuts Dividend
The business also recently declared a dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 0.98%. Lancashire’s dividend payout ratio is currently 1,621.62%.
Insider Buying and Selling
In other news, insider Michael George Dawson acquired 10,000 shares of Lancashire stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of GBX 610 ($7.98) per share, for a total transaction of £61,000 ($79,832.48). 0.64% of the stock is owned by company insiders.
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.
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