Hiscox Ltd (LON:HSX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,195.25 ($16.04) and traded as high as GBX 1,340 ($17.98). Hiscox shares last traded at GBX 1,320 ($17.71), with a volume of 1,046,560 shares traded.
Analyst Ratings Changes
Several research firms have commented on HSX. JPMorgan Chase & Co. restated an "overweight" rating on shares of Hiscox in a research report on Friday, August 1st. Berenberg Bank upped their price objective on Hiscox from GBX 1,450 to GBX 1,580 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on Hiscox from GBX 1,300 to GBX 1,400 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 1,460 target price on shares of Hiscox in a research note on Thursday, July 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Hiscox currently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,480.
Get Our Latest Analysis on HSX
Hiscox Stock Performance
The firm has a market capitalization of £5.78 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of -2.30 and a beta of 0.65. The company has a 50 day moving average price of GBX 1,285.41 and a two-hundred day moving average price of GBX 1,201.94.
Hiscox declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 6th that allows the company to buyback $275.00 million in shares. This buyback authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors 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.
Further Reading
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