Westhouse puts Beazley's rating under review on tough outlook
5th Feb 2015 09:27
Annual results from insurer Beazley were more or less in line with expectations, according to Westhouse Securities, though the broker has placed its 'neutral' rating under review after recent gains in the stock. Pre-tax profits fell 16% over the year to $261.9m, slightly short of the $264m consensus
Read moreBeazley profits hit by lower reserve releases and currency headwinds
5th Feb 2015 09:02
Lower reserve releases than its five-year average and currency headwinds saw specialist insurer Beazley report a 16% decline in pre-tax profit in 2014. The group said its pre-tax profit for year fell from $313.3m (£205.75m) to $261.9m, while revenue rose 4% to $1.77bn thanks to an increase in net ea
Read moreSector movers: Blue chips Admiral and RSA drag insurers lower
7th Nov 2014 13:27
The non-life insurance sector was the worst performer on Friday in London after a disappointing update from Admiral and a broker downgrade for RSA Insurance. Admiral was trading 3.1% lower after saying that its price-comparison website Confused.com is expected to see a fall in profits in the second
Read moreCompetition for catastrophe insurance business rises, says Beazley
6th Nov 2014 14:51
Competition is growing for catastrophe insurance business as the number of major disasters wanes, Lloyd's of London insurer Beazley said as it reported a slight fall in premium rates. Beazley said competition was intensifying in large risk and catastrophe-exposed businesses such as re-insurance and
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreTuesday broker round-up UPDATE
30th Sep 2014 09:50
Aberdeen: Goldman Sachs ups target price from 540p to 560pp retaining a buy recommendation. African Barrick Gold: Deutsche Bank moves target price from 270p to 280p and reiterates a hold recommendation. Investec lowers target price from 260p to 258p, while upgrading to buy. African Minerals: Invest
Read moreThursday broker round-up UPDATE
24th Jul 2014 08:59
Afren: JP Morgan shifts target price from 180p to 188p upgrading from underweight to overweight. Anglo American: Jefferies raises target price from 1550p to 1700p and reiterates a hold recommendation. Antofagasta: Jefferies increases target price from 825p to 1000p upgrading from hold to buy. ARM
Read moreWednesday broker round-up UPDATE
23rd Jul 2014 09:01
Abcam: Canaccord Genuity ups target price from 375p to 400p and upgrades from hold to buy. ARM Holdings: Deutsche Bank cuts target price from 975p to 950p and maintains a hold recommendation. Credit Suisse lowers target price from 1125p to 1100p and leaves its outperform rating unaltered. Beazley:
Read moreWednesday tips round-up: ARM Holdings, Beazley
23rd Jul 2014 07:43
The Questor column in The Telegraph recommends investors keep hold of shares of chip design ARM Holdings, saying that despite a 20% fall in the stock year-to-date "it's not the time to jump in just yet". Even though the company delivered a confident outlook on Tuesday after a stronger-than-expected
Read moreFTSE 250 movers: IG Group rises on increased divi payment
22nd Jul 2014 15:59
IG Group leapt following what broker Numis Securities termed a "substantial" increase in its dividend payment, up 28% to 22.4p. The financial spread betting firm reported a 2.4% rise in full-year trading revenue to £370.4m. Numis kept its 'add' rating on the stock with a target price of 665p. Secu
Read moreBeazley US strength ensures first half beats expectations
22nd Jul 2014 08:44
- Pre-tax profit up 62% - Gross written premiums up 1% - Interim dividend up 7% Premium growth and investment returns were both ahead of expectations at specialist insurer Beazley in the first half of the year, despite a more challenging market. The insurer, which leads some of the leading syndica
Read moreFTSE 250 movers: Tullet Prebon jumps on CEO speculation
3rd Jun 2014 14:23
London-based interdealer broker Tullett Prebon jumped on speculation it could soon announce a successor to long-running Chief Executive Officer Terry Smith. According to reports, Smith, a well-known financial executive in the City, is thought to be planning to work full time at Fundsmith, the asset
Read moreBerenberg upgrades Beazley to 'buy'
3rd Jun 2014 09:11
Broker Berenberg has begun advising its clients to 'buy' into Lloyd's of London insurer Beazley. Berenberg said it was raising Beazley to a 'buy' from 'hold' with a price target of 278p, up from 271p. The broker said Beazley had an impressive return-on-equity track record which had trumped that of
Read moreTuesday broker round-up UPDATE
3rd Jun 2014 08:31
Anglo American: Goldman Sachs reduces target price from 1240p to 1180p and keeps its sell recommendation. Balfour Beatty: UBS shifts target price from 225p to 230p maintaining its neutral rating. Barr (AG): N+1 Singer moves target price from 667p to 678p retaining its hold recommendation. Beazley
Read moreWife of Beazley CEO sells 200,000 shares
15th May 2014 15:57
The wife of David Horton, the Chief Executive Officer of Beazley, has sold 200,000 shares in the global specialist risk insurance and reinsurance business, thereby reducing his interest to 1.58m shares. Sophie Horton sold the shares at 244.50p a piece, giving the deal a trade value of £489,000.
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