Xd 25p this week. |
£9 imminent. Surely 10 at some point in 2025? Barring disasters of course.... |
Agree with the results - and appear to have been correspondingly well received by the market.
Am less impressed by the 500m buy-back when the shares are at an all-time high share price, and the insurance cycle appears to be turning... Would have preferred a special dividend like LRE did last year. |
Agree! 10 gbp in the cards now. Impressive incremental growth story ! |
Impressive numbers, I like the 137p EPS. I think a tenner is on the near horizon. |
Finals Tuesday. |
The sell recommendation from Questor in the Telegraph last week doesn’t seem to have had any effect. |
Well £8 didn't give much resistance , another ATH again today. |
Yes. Been having a go at £8 for a while. |
Not just strong gains... but an all time high at yesterday's close? |
Strong gains recently. |
4*
Beazley issued a positive trading update for the 9 months ended 30 September this morning. Insurance written premiums increased by another 7% to $4,625m (Q3 2023: $4,325m), net insurance written premiums increased by 7% to $3,792m (Q3 2023: $3,532m) while premium rates on renewal business were flat as expected. Investment income was up a solid 4.7% ytd or $513m. Meanwhile the Group’s initial view of exposure to Hurricanes Helene and Milton combined is between $125m-$175m. Combined ratio...
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/BEZ/950 |
https://www.tradingview.com/symbols/LSE-BEZ/forecast/15 analysts covering Beazley, average target of 855p. Overall Strong Buy. |
Yes, stand corrected my oversight. Missed the 325m was in USD, and agree equates to approx 255m GBP.Think cancelling these shares is a big step forward. At time I posted market cap was just over 4 billion at 638p.I'm happy with share buyback as helps with reduced shares in issue to increase their value.See this over 1000p over next couple of years. |
For the record:In March, the buy back programme was set at 325 million dollars which was estimated by the company to be worth approx 255 million pounds. |
Excellent results indeed and all shareholders should be pleased......however the company is nowhere near buying back 12% of shares this year. According to my calculations:Beginning of 2024 there were 662m shares outstanding.12% would be approx 80m.So far £200m out ot £255 programme has been used cancelling approx 30m shares.i.e approx 4.2%.I believe management need to look again at normal and special dividend policy as one way of raising the low p/e. This could be in tandem with buy backs.Does anyone else have any suggestions? |
Well now will be a good time I think. Seriously undervalued looking ar ROI 28%. Growing revenues.This should be over 1000p in my opinion. |
V impressive set of results.
onwards and upwards |
 IMHO Excellent Results.Only thing extra I would ask is how Board intend to get share price to reflect these opportunities. Obviously, buy back programme and taking 12% of shares out cancelling them will further demonstrate the case. PE Ratio now already falling to 4 which is far too low and shows how undervalued these are!Adrian Cox, CEO of Beazley, said:"I am pleased to report a record first half profit of $728.9m. Expertise in underwriting and active risk selection are key drivers of this strong result, even as the rating environment is moderating. Property grew 25% in the first half, demonstrating the success of our strategy to grow in this increasingly specialist class, focusing on the US E&S market. We continue to innovate in cyber, launching one of the market's most comprehensive, integrated cyber security and insurance offerings with Full Spectrum Cyber and Beazley Security. When faced with the world's largest ever IT outage, Beazley's approach to underwriting cyber risk was tested and proved to be highly resilient. We see opportunities in the remainder of the year and are confident in delivering on our high single digit growth guidance. We are also pleased to confirm that we have improved our undiscounted combined ratio guidance for the full year to around 80%." |
Beazley PLC Beazley plc results for period ended 30 June 2024Source: RNS Regulatory NewsRNS Number : 6353ZBeazley PLC08 August 2024 Press ReleaseBeazley delivers record first half year profit of $728.9m Beazley plc results for period ended 30 June 2024 Profit before tax increased to $728.9m (2023HY: $366.4m) Insurance written premiums increased to $3,123.3m (2023HY: $2,921.1m) Undiscounted combined ratio of 81% (2023HY: 88%) Discounted combined ratio of 77% (2023HY: 84%) Return on equity (annualised) of 28% (2023HY: 18%) Share buyback of up to $325m announced in March 2024 on track to complete by end of the year FY undiscounted COR guidance of around 80% FY premium growth of high single digits reiterated |
According to Tipranks, the average 12-month price target for Beazley (BEZ) is 887.14p, with a high of 975.00p and a low of 770.00p, based on 7 Wall Street analysts' price targets from the last three months. This average price target represents a 38.83% change from the last price of 639.00p. Tipranks also gives Beazley PLC a consensus rating of "Strong Buy" based on 7 buy ratings, 0 hold ratings, and 0 sell ratings. |
Share buyback in March 325m gbp will remove 12% of shares. |
As Beazley remind is from time to time "their business is cyclical". Ok so these are the good times. In my opinion, it would be sensible now to reward their long time holders with a special dividend.This buyback business seems to be only benefitting traders.Am I alone in thinking this way? |
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