UK's Lancashire Holdings falls after Peel Hunt downgrades to 'hold'

** Shares of British insurer Lancashire Holdings LRE.L fall ~2% to 616p

** Peel Hunt downgrades stock to "hold" from "add"

** Brokerage factors in a softening cycle and gradually declining premiums in the next four years

** Peel Hunt hikes PT to 645p from 630p

** On an avg, 15 analysts rate the stock "buy"; their median PT is 710p, as per LSEG data

** Stock is down about 3.2% YTD