Lancashire Holdings Limited (LRE)

Sector:

Insurance

Index:

FTSE 250

619.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 689.00
  • 52 Week Low: 538.00
  • Currency: UK Pounds
  • Shares Issued: 244.01m
  • Volume: 532,638
  • Market Cap: £1,510.42m
  • RiskGrade: 167

Berenberg raises target price on Lancashire Holdings

By Iain Gilbert

Date: Monday 13 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on insurance firm Lancashire Holdings from 645.0p to 770.0p on Monday, stating the group was entering 2023 from "a position of strength".
Berenberg said the key message from Lancashire's recent earnings call was "more margin in underwriting, more margin in investment income in 2023".

Lancashire has "clearly had room" to further expand its property catastrophe footprint given its 300% Bermuda solvency capital requirement at January renewals, said Berenberg.

However, the analysts noted that management was "adamant" about not materially changing the shape, balance and improved business mix of the portfolio it has "painstakingly built" over the past few years.

The German bank highlighted that the broader business mix and growth in non-catastrophe exposed lines helped Lancashire absorb the impact of a $125.0bn natural catastrophe year and losses stemming from the Ukraine war.

"We believe Lancashire enters 2023 from a position a strength and the expected profitability of the business is now higher. We roll forward our estimates and raise our price target to 770p. The shares trade on 5.8x FY 2024E EPS and 1.23x FY 2023 P/B," said Berenberg, which reiterated its 'buy' rating on the stock.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LRE Market Data

Currency UK Pounds
Share Price 619.00p
Change Today -5.00p
% Change -0.80 %
52 Week High 689.00
52 Week Low 538.00
Volume 532,638
Shares Issued 244.01m
Market Cap £1,510.42m
RiskGrade 167

LRE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.49% above the market average97.49% above the market average97.49% above the market average97.49% above the market average97.49% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
72.23% above the market average72.23% above the market average72.23% above the market average72.23% above the market average72.23% above the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Income
94.96% above the market average94.96% above the market average94.96% above the market average94.96% above the market average94.96% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Growth
13.54% above the market average13.54% above the market average13.54% above the market average13.54% above the market average13.54% above the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average

What The Brokers Say

Strong Buy 5
Buy 5
Neutral 7
Sell 0
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LRE Dividends

  Latest Previous
  Final Special
Ex-Div 09-May-24 14-Mar-24
Paid 07-Jun-24 12-Apr-24
Amount 15.00¢ 50.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 401,643 @ 619.00p
16:35 285 @ 619.00p
16:35 1,009 @ 619.00p
16:35 31 @ 619.00p
16:35 1,290 @ 619.00p

LRE Key Personnel

CEO Alex Maloney
CFO Natalie Kershaw

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