Hiscox Ltd (LON:HSX - Get Free Report) shares traded up 9.4% on Wednesday . The stock traded as high as GBX 1,454 ($19.42) and last traded at GBX 1,379 ($18.42). 3,353,292 shares were traded during trading, an increase of 70% from the average session volume of 1,972,280 shares. The stock had previously closed at GBX 1,260 ($16.83).
Analyst Ratings Changes
Several analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Hiscox in a report on Friday, August 1st. Peel Hunt reaffirmed a "buy" rating and set a GBX 1,460 ($19.50) price target on shares of Hiscox in a report on Thursday, July 3rd. Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,450 ($19.37) price target on shares of Hiscox in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price objective 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 report on Friday, July 18th.
View Our Latest Report on HSX
Hiscox Stock Performance
The firm has a market cap of £5.94 billion, a price-to-earnings ratio of 8.46, a PEG ratio of -2.30 and a beta of 0.65. The business has a fifty day moving average of GBX 1,275.79 and a two-hundred day moving average of GBX 1,181.98.
Hiscox announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 6th that authorizes the company to buyback $275.00 million in shares. This buyback authorization authorizes the company to reacquire 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.
Hiscox Company Profile
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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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