Beazley (LON:BEZ - Get Free Report) declared that its board has initiated a stock buyback program on Tuesday, March 4th, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.
Shares of LON BEZ traded down GBX 7.50 ($0.10) during mid-day trading on Friday, hitting GBX 887 ($11.46). 95,900,352 shares of the stock were exchanged, compared to its average volume of 5,778,785. The company has a market cap of £6.82 billion, a P/E ratio of 5.55, a PEG ratio of 1.57 and a beta of 0.68. The stock's fifty day simple moving average is GBX 835.25 and its two-hundred day simple moving average is GBX 797.34. Beazley has a twelve month low of GBX 611 ($7.90) and a twelve month high of GBX 925 ($11.96).
Beazley (LON:BEZ - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported GBX 137 ($1.77) earnings per share for the quarter. Beazley had a net margin of 22.82% and a return on equity of 32.60%. As a group, equities research analysts predict that Beazley will post 101.6172507 earnings per share for the current fiscal year.
In other news, insider Adrian Cox sold 27,772 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of GBX 902 ($11.66), for a total transaction of £250,503.44 ($323,773.35). Company insiders own 2.31% of the company's stock.
Beazley plc provides risk insurance and reinsurance solutions in the United States, the United Kingdom, rest of Europe, and internationally. It operates through Cyber Risks, Digital, MAP Risks, Property Risks, and Specialty Risks segments. The Cyber Risk segment underwrites cyber and technology risks.
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