Lancashire Holdings Limited (LON:LRE)’s share price rose 4.8% on Thursday . The stock traded as high as GBX 625 ($8.17) and last traded at GBX 623.50 ($8.15). Approximately 424,039 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,020,000 shares. The stock had previously closed at GBX 595 ($7.77).
LRE has been the topic of several analyst reports. Berenberg Bank reissued a “buy” rating and issued a GBX 675 ($8.82) target price on shares of Lancashire in a research note on Monday, December 10th. Shore Capital reissued an “under review” rating on shares of Lancashire in a research note on Thursday, November 1st. Peel Hunt reissued an “add” rating on shares of Lancashire in a research note on Thursday, November 29th. Barclays cut their target price on Lancashire from GBX 636 ($8.31) to GBX 623 ($8.14) and set an “equal weight” rating on the stock in a research note on Thursday, December 13th. Finally, UBS Group reissued a “buy” rating and issued a GBX 655 ($8.56) target price (up previously from GBX 640 ($8.36)) on shares of Lancashire in a research note on Thursday, January 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Lancashire currently has a consensus rating of “Buy” and an average price target of GBX 650.33 ($8.50).
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Lancashire Holdings Limited provides specialty insurance and reinsurance products worldwide. The company operates through five segments: Property, Energy, Marine, Aviation, and Lloyd's. It offers aviation insurance solutions; coverage for upstream operational and construction all risks related to wind, earthquakes, and floods, as well as standalone business interruption coverage; and a range of coverages in marine portfolio, including marine hull, total loss only, mortgagees interests insurance, mortgagees additional perils, excess protection and indemnity, marine war, and builder's risks to high-profile accounts, cruise vessels, and liquid natural gas carriers.
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