Hiscox (LON:HSX - Get Free Report) had its target price raised by equities researchers at Berenberg Bank from GBX 1,450 ($19.37) to GBX 1,580 ($21.11) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential upside of 17.73% from the stock's previous close.
Several other research firms have also recently weighed in on HSX. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Hiscox in a research note on Friday, August 1st. Royal Bank Of Canada increased their price target on shares of Hiscox from GBX 1,125 ($15.03) to GBX 1,300 ($17.37) and gave the company a "sector perform" rating in a research note on Friday, July 18th. Finally, Peel Hunt reissued a "buy" rating and issued a GBX 1,460 ($19.50) price target on shares of Hiscox in a research note on Thursday, July 3rd.
Check Out Our Latest Stock Analysis on HSX
Hiscox Price Performance
Hiscox stock opened at GBX 1,342 ($17.93) on Thursday. The firm has a 50 day simple moving average of GBX 1,275.79 and a 200-day simple moving average of GBX 1,181.98. Hiscox has a 1-year low of GBX 1,008 ($13.47) and a 1-year high of GBX 1,454 ($19.42). The stock has a market cap of £5.78 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of -2.30 and a beta of 0.65.
Hiscox declared that its board has authorized a share buyback program on Wednesday, August 6th that authorizes the company to buyback $275.00 million in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
About Hiscox
(
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Hiscox Ltd, through its subsidiaries, provides insurance and reinsurance services in the United Kingdom, Europe, the United States, and internationally. The company operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re & ILS, and Corporate Centre. It offers commercial insurance for small-and medium-sized businesses; and personal lines cover, including high-value household, fine art, and luxury motor, as well as artwork, antiques, classic cars, jewelry, collectables, and other assets through brokers, partners, and direct-to-consumers.
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