Broker tips: Lancashire Holdings, Grafton Group, Gym Group
1st Sep 2016 12:35
(ShareCast News) - RBC Capital Markets upgraded Lancashire Holdings to 'sector perform' from 'underperform' and lifted the price target to 625p from 500p. "Whilst we had always seen Lancashire as a high quality underwriting operation, company-specific issues at the end of 2015 led to our 'underperfo
Read moreRBC upgrades Lancashire Holdings to 'sector perform'
1st Sep 2016 10:46
(ShareCast News) - RBC Capital Markets upgraded Lancashire Holdings to 'sector perform' from 'underperform' and lifted the price target to 625p from 500p. "Whilst we had always seen Lancashire as a high quality underwriting operation, company-specific issues at the end of 2015 led to our 'underperfo
Read moreBroker tips: Cairn Energy, Lancashire, Countrywide
28th Jul 2016 13:34
(ShareCast News) - Cairn Energy shares rose on Thursday as RBC Capital Markets raised its rating on the stock to 'outperform' from 'sector perform' and reiterated a target price of 260p. "We view the recent share price weakness as an opportunity to take a position in Cairn ahead of the first half re
Read moreLancashire Holdings left at 'hold' by Canaccord
28th Jul 2016 10:55
(ShareCast News) - Lancashire Holdings was left at a 'hold' rating by Canaccord Genuity on Thursday but its target price was lifted to 600p from 550p after better-than-feared first half profits. The Bermuda-based insurance company on Wednesday reported profit before tax fell sharply to $56.6m in the
Read moreLancashire's interim profits beat forecast, capital return eyed in second half
27th Jul 2016 08:50
(ShareCast News) - Bermuda-based insurance company Lancashire Holdings' profits fell less than feared in the first half as it skirted most of the significant industry losses in recent months. Profit before tax in the second half of the year fell sharply to $56.6m in the six months ended 30 June, ahe
Read moreJon Barnes joins Cathedral Underwriting at Lancashire
15th Jun 2016 07:37
(ShareCast News) - Lancashire Holdings announced on Wednesday that Jon Barnes will be joining its Cathedral Underwriting business, to lead the underwriting of property treaty reinsurance business for Syndicate 2010. The FTSE 250 firm said Barnes has over 25 years experience in the Lloyd's market, mo
Read moreCommercial insurers face more claims, slimmer margins from August - Fitch
14th Jun 2016 09:34
(ShareCast News) - Insurers are likely to face more more claims, more intense price competition and slimmer margins, Fitch Ratings said, due to changes to UK laws on disputing commercial insurance claims and timing of payments due to come into force in August and next year. Coming into force on 12 A
Read moreThursday broker round-up
9th Jun 2016 16:34
(ShareCast News) - Fevertree Drinks: Berenberg upgrades to buy with a target price of 810p. AO World: JP Morgan keeps at neutral with a 200p target. WH Smith: JP Morgan stays at overweight with a target price of 1850p. Lancashire Holdings: UBS keeps at neutral with a target of 610p. Admiral Group
Read moreLancashire Holdings Q1 profit down, gross written premiums drop
5th May 2016 09:23
(ShareCast News) - Lancashire Holdings posted a drop in first-quarter pre-tax profit as gross premiums written fell. In the three months to the end of March, pre-tax profit fell to $26.5m from $51.5m, while gross premiums written declined 5.5% to $230.8m. Lancashire said an increase in property pre
Read moreWednesday broker round-up
27th Apr 2016 15:32
(ShareCast News) - BP: Barclays reiterates overweight with a 550p target, Credit Suisse keeps at underperform with a target of 330p, Cannacord stays at buy with a 420p target and Exane BNP Paribas reiterates neutral with a target of 350p. Cambian Group: Canaccord downgrades to hold with a 91p target
Read moreLancashire Holdings secures $300m lending facility
29th Mar 2016 07:50
(ShareCast News) - Lancashire Holdings' fully-owned subsidiary Lancashire Insurance Co Ltd has entered into a new $300m (£211m) five-year letter of credit and credit facility with Lloyds and Barclays Bank as joint bookrunners. The letters of credit will be used to support obligations under reinsuran
Read moreFTSE 250 movers: Three senior underwriters jump ship at Lancashire Holdings
1st Mar 2016 17:06
(ShareCast News) - Shares in Lancashire Holdings dropped to the bottom of the pile on Tuesday. After the close of trading in the previous session, the company said three more senior underwriters had jumped ship, close on the heels of the announced departure of John Hamblin, the CUO at Cathedral, in
Read moreLancashire's wings clipped in 2015 results
18th Feb 2016 09:38
(ShareCast News) - Lancashire's wings were clipped significantly as it flew through a rather rough 2015, with the company reporting some significantly depressed returns and earnings for the year on Thursday, the same day its chairman announced his intention to step down. The FTSE 250 insurer's fully
Read moreMartin Thomas steps down as Lancashire chairman
18th Feb 2016 08:54
(ShareCast News) - Lancashire prepared to bid farewell to its chairman of almost a decade on Thursday, with the announcement that Martin Thomas was to step down after the annual general meeting, having been in the role since 2007. The FTSE 250 company - which also released its annual results - said
Read moreLancashire lifts special dividend after low losses from Hurricane Patricia
5th Nov 2015 10:09
(ShareCast News) - Third quarter profits at Lancashire were ahead of market forecasts as tropical storm Patricia did little damage in Mexico, with the non-life insurer declaring a larger special dividend than expected due to a lighter resinsurance outlook. Although gross premiums were down for the q
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