Hiscox (LON:HSX) Upgraded by Royal Bank Of Canada to "Outperform" Rating

Key Points

• Royal Bank of Canada upgraded Hiscox to “outperform” and lifted its price target to GBX 1,850 from GBX 1,710, implying about 13% upside from the current share price.
• Several other analysts also turned more bullish on the stock, including JPMorgan, Berenberg, and Goldman Sachs, while Jefferies kept an underperform rating. Overall, Hiscox now carries a Moderate Buy consensus with an average target price of GBX 1,645.17.
• Hiscox shares were up 0.7% to GBX 1,636 on Monday, near their 52-week high of GBX 1,647. The insurer has a market value of about £5.26 billion and is trading above both its 50-day and 200-day moving averages.

Hiscox (LON:HSX - Get Free Report) was upgraded by research analysts at Royal Bank Of Canada to an "outperform" rating in a research report issued on Monday,London Stock Exchange reports. The firm currently has a GBX 1,850 target price on the stock, up from their previous target price of GBX 1,710. Royal Bank Of Canada's price target would indicate a potential upside of 13.08% from the stock's current price.

A number of other equities analysts have also recently commented on HSX. JPMorgan Chase & Co. increased their target price on Hiscox from GBX 1,600 to GBX 1,800 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Berenberg Bank increased their target price on Hiscox from GBX 1,760 to GBX 1,900 and gave the company a "buy" rating in a report on Friday. The Goldman Sachs Group increased their target price on Hiscox from GBX 1,560 to GBX 1,713 and gave the company a "buy" rating in a report on Wednesday, January 21st. Finally, Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,148 target price on shares of Hiscox in a report on Thursday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hiscox presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,645.17.

Hiscox Stock Up 0.7%

HSX stock opened at GBX 1,636 on Monday. The stock has a market capitalization of £5.26 billion, a P/E ratio of 9.35, a P/E/G ratio of -2.30 and a beta of 0.37. Hiscox has a 52 week low of GBX 1,130 and a 52 week high of GBX 1,647. The firm has a 50-day simple moving average of GBX 1,540.12 and a 200-day simple moving average of GBX 1,452.60.

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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