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Berenberg raises Beazley to Buy
New article with a Buy recommendation
https://www.investorschronicle.co.uk/news/2021/07/23/beazley-starts-to-rebuild/
Thanks Nick was expecting them to revise upwards after the good results.
Raised again today by JP Morgan. Now 473p.
Yes excellent results as expected. Will fully digest later v pre covid figures when the share price was £6.
May revise my 450p target from 295p entry.
Great results. BEZ is pushing through some huge rate increases which is great to see.
If that 1st HY performance can be repeated in the 2nd Half, then we are on target for an annual profit of around £250m-£300m.
Excellent results IMHO with dividend considered to ge reintroduced at year end.
Beazley plc results for period ended 30 June 2021
-- Profit before tax of $167.3m (30 June 2020: Loss before tax of $13.8m)
-- Return on equity (annualised) of 15% (30 June 2020: (1%))
-- Gross premiums written increased by 22% to $2,035.3 (30 June 2020: $1,663.9m)
-- Combined ratio of 94% (30 June 2020: 107%) -- Rate increase on renewal portfolio of 20% (30 June 2020: increase of 11%)
-- Prior year reserve releases of $95.7m (30 June 2020: $58.6m)
-- Net investment income of $83.6m (30 June 2020: $83.2m)
-- No interim dividend (30 June 2020: nil)
they will be good.
If the last trading update was an indicator they should be good.
Tomorrow
JP Morgan raises target price to 452p from 425p -
CITI initiates coverage of Beasley 15/7/21 with a Buy rating
https://www.beazley.com/news/2021/troy_dehmann_joins_beazley_as_chief_operating_officer.html
Come rain or shine, for months the end of day UT is 380,000 shares or multiples of this and never do we see any accumulation RNS's. I wish I knew what was happening here as this has now been going on for months.
Its gone above my trading range as well now so need to watch it for a while unless it drops again, its the problem with short term trading I guess, but probably should have used some of the profits to tuck some away as it will eventually get back to where it was. IMO.
Agree Ian have loaded up in my pension last few months. Will gradually rise and as you say £6 is my person target as well. Sure, wont be immediate but can see a push to £3.80, £4 and then £4.50 which will all act as temporary resistance levels.
Slowly trending up. 340 broken and will now be support imo though I’m not a massive chartist.
One to buy tuck away and wait for the £6 days to return.
JP Morgan raises target price to 452p from 425p
£3.40 proving to be a bit of a resistance. Lets see if we can hold and clear this week.
There has been something afoot for ages. These large buys and sells at the end of each day, £2m each day, sometimes £5m sometimes £1M, last Friday £15m.
These have been going on for months so who is the buyer and who the seller and why is thee never any large holding RNS's?
I think AFB is way undervalued, looks at Lemonade etc, their valuations are a joke compared to this.
Iv'e just been day /month trading AFB knowing the long term trend has to go up, so my last bets have been sitting around for a while when is dropped further than I thought it would, but today 40,000 hit their limit and sold so I am nearly out now and my last one is set for 345, so I am going to delete that and let it run.
However these profits are all well and good but I need to tuck a few away for the long term, or maybe more likely the short term as the price needs to double or they will be a hot aquisition target, IMO.
See LRE is going up too. I've £70k invested so always good to see a rise.
Its just undervalued. Bez issued a Great trading update but price held. All bots controlled, they have switched the rise button at last.
Insurance always wins.
hoping for another Morrisons
there is something afoot perhaps.