Lancashire (LON:LRE) Sets New 12-Month High After Dividend Announcement

Lancashire Holdings Limited (LON:LRE) shares hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as GBX 827 ($10.88) and last traded at GBX 807 ($10.62), with a volume of 310555 shares. The stock had previously closed at GBX 772 ($10.16).

The newly announced dividend which will be paid on Friday, June 5th. Investors of record on Thursday, May 7th will be given a $0.10 dividend. This represents a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 7th. This is an increase from Lancashire’s previous dividend of $0.05. Lancashire’s dividend payout ratio (DPR) is 80.00%.

A number of brokerages recently issued reports on LRE. JPMorgan Chase & Co. increased their price objective on Lancashire from GBX 695 ($9.14) to GBX 700 ($9.21) and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada increased their price objective on Lancashire from GBX 800 ($10.52) to GBX 850 ($11.18) and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. HSBC downgraded Lancashire to a “reduce” rating and lowered their price objective for the stock from GBX 694 ($9.13) to GBX 551 ($7.25) in a research report on Thursday, January 23rd. Peel Hunt reiterated a “hold” rating and issued a GBX 660 ($8.68) price objective on shares of Lancashire in a research report on Thursday, November 7th. Finally, Shore Capital reiterated a “hold” rating on shares of Lancashire in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Lancashire has an average rating of “Hold” and a consensus price target of GBX 733.83 ($9.65).

The stock has a 50-day simple moving average of GBX 763.33 and a two-hundred day simple moving average of GBX 724.74. The company has a quick ratio of 1.48, a current ratio of 2.19 and a debt-to-equity ratio of 31.04. The firm has a market cap of $1.61 billion and a PE ratio of 7,930.00.

Lancashire Company Profile (LON:LRE)

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 coverage 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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