Hiscox (LON:HSX) Shares Up 9.4% - Time to Buy?

Key Points

• Hiscox shares rose by 9.4% on Wednesday, closing at GBX 1,379 ($18.34), with trading volume increasing by 70% compared to the average daily volume.
• Analysts have set various price targets for Hiscox, with Royal Bank of Canada raising its target to GBX 1,300 ($17.28) and Berenberg Bank providing a buy rating with a target of GBX 1,450 ($19.28).
• The company boasts a market cap of £5.94 billion and offers a range of insurance services across different segments including retail and reinsurance, primarily in the UK and internationally.

Hiscox Ltd (LON:HSX - Get Free Report) shares were up 9.4% during trading on Wednesday . The stock traded as high as GBX 1,454 ($19.33) and last traded at GBX 1,379 ($18.34). Approximately 3,353,292 shares traded hands during trading, an increase of 70% from the average daily volume of 1,972,280 shares. The stock had previously closed at GBX 1,260 ($16.75).

Analysts Set New Price Targets

A number of analysts have commented on HSX shares. Royal Bank Of Canada increased their price target on shares of Hiscox from GBX 1,125 ($14.96) to GBX 1,300 ($17.28) and gave the company a "sector perform" rating in a research note on Friday, July 18th. Berenberg Bank reissued a "buy" rating and issued a GBX 1,450 ($19.28) price objective on shares of Hiscox in a research report on Friday, July 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Hiscox in a research report on Friday, August 1st. Finally, Peel Hunt reissued a "buy" rating and issued a GBX 1,460 ($19.41) target price on shares of Hiscox in a report on Thursday, July 3rd.

Hiscox Price Performance

The company has a market cap of £5.94 billion, a PE ratio of 8.46, a P/E/G ratio of -2.30 and a beta of 0.65. The company's fifty day moving average price is GBX 1,275.79 and its 200 day moving average price is GBX 1,181.98.

Hiscox Company Profile

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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