Hiscox (LON:HSX) Sets New 1-Year High - What's Next?

Key Points

• 52-week high: Shares of Hiscox reached a new 52-week high of GBX 1,573 (last traded GBX 1,568.13) on Tuesday with a volume of 389,966 shares and were trading up about 1.3%.
• Analyst outlook: Goldman Sachs raised its price target to GBX 1,713 and gave a "buy" rating; overall consensus is a Moderate Buy with an average price target of GBX 1,466.83 (four Buys, one Hold, one Sell).
• Company fundamentals show a market capitalization of £5.09 billion, a P/E of 9.02 and bullish technicals (50-day MA GBX 1,498.63 vs. 200-day MA GBX 1,421.47), with a low beta of 0.37 indicating lower volatility.

Shares of Hiscox Ltd (LON:HSX - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as GBX 1,573 and last traded at GBX 1,568.13, with a volume of 389966 shares. The stock had previously closed at GBX 1,558.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HSX shares. The Goldman Sachs Group raised their price objective on shares of Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Jefferies Financial Group raised their price objective on shares of Hiscox from GBX 1,068 to GBX 1,148 and gave the stock an "underperform" rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,466.83.

Hiscox Trading Up 1.3%

The firm has a market capitalization of £5.09 billion, a PE ratio of 9.02, a P/E/G ratio of -2.30 and a beta of 0.37. The company has a fifty day moving average price of GBX 1,498.63 and a two-hundred day moving average price of GBX 1,421.47.

About Hiscox

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from our roots as a niche Lloyd's of London underwriter into a diversified international insurance group operating across direct‑to‑consumer, broker and partner‑distributed retail insurance; large and complex commercial insurance; reinsurance and insurance‑linked strategies. We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.

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