Lancashire (LON:LRE) Hits New 1-Year High After Dividend Announcement

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Lancashire Holdings Limited (LON:LRE) hit a new 52-week high during mid-day trading 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 trading hands. 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 issued a dividend of $0.10 per share. This is an increase from Lancashire’s previous dividend of $0.05. The ex-dividend date is Thursday, May 7th. This represents a dividend yield of 0.97%. Lancashire’s payout ratio is presently 80.00%.

LRE has been the subject of several research analyst reports. HSBC downgraded shares of Lancashire to a “reduce” rating and reduced their target price for the stock from GBX 694 ($9.13) to GBX 551 ($7.25) in a report on Thursday, January 23rd. Peel Hunt reaffirmed a “hold” rating and set a GBX 660 ($8.68) target price on shares of Lancashire in a report on Thursday, November 7th. Canaccord Genuity reaffirmed a “hold” rating and set a GBX 735 ($9.67) target price on shares of Lancashire in a report on Monday, November 11th. Peel Hunt reiterated a “hold” rating on shares of Lancashire in a research note on Monday, February 10th. Finally, Investec upgraded shares of Lancashire to an “add” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Lancashire currently has an average rating of “Hold” and a consensus price target of GBX 733.83 ($9.65).

The company has a current ratio of 2.19, a quick ratio of 1.48 and a debt-to-equity ratio of 31.04. The firm’s 50 day simple moving average is GBX 763.33 and its two-hundred day simple moving average is GBX 724.74. The firm has a market cap of $1.61 billion and a price-to-earnings 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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