Hiscox (LON:HSX) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• Hiscox shares reached a new 52-week high after Berenberg raised its price target from GBX 2,150 to GBX 2,250 and reiterated a buy rating. The shares traded as high as GBX 1,971, up from the prior close of GBX 1,939.
• Broker views differ: Jefferies maintained an underperform rating and GBX 1,148 target, while five analysts rate Hiscox a buy, one a hold, and one a sell. MarketBeat’s consensus is “Moderate Buy,” with an average target of GBX 1,852.43.
• Hiscox reported a 9.5% increase in nine-month premiums to $4.44 billion, with retail growth accelerating.

Hiscox Ltd (LON:HSX - Get Free Report)'s stock price reached a new 52-week high on Wednesday after Berenberg Bank raised their price target on the stock from GBX 2,150 to GBX 2,250. Berenberg Bank currently has a buy rating on the stock. Hiscox traded as high as GBX 1,971 and last traded at GBX 1,966, with a volume of 253,782 shares. The stock had previously closed at GBX 1,939.

Several other brokerages have also issued reports on HSX. Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,148 target price on shares of Hiscox in a research note on Tuesday. Citigroup upped their price target on shares of Hiscox from GBX 1,611 to GBX 1,846 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 2,000 price target on shares of Hiscox in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Hiscox from GBX 1,800 to GBX 2,050 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Peel Hunt reiterated an "add" rating and issued a GBX 1,960 price objective on shares of Hiscox in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 1,852.43.

Hiscox News Roundup

Here are the key news stories impacting Hiscox this week:

• Positive Sentiment: Hiscox reported a 9.5% rise in nine-month premiums to $4.44 billion, with retail growth accelerating. The update points to solid demand across its retail business. Hiscox insurance premiums rise 9.5% to $4.44bn as retail growth accelerates
• Positive Sentiment: Berenberg raised its price target to GBX 2,250 from GBX 2,150 and reiterated a “buy” rating, signaling greater confidence in the shares’ potential. Berenberg Bank stock recommendations
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and GBX 1,148 price target, presenting a substantially more bearish view than Berenberg and a potential drag on sentiment. Jefferies Financial Group stock recommendations

Hiscox Price Performance

The stock has a 50 day simple moving average of GBX 1,864.45 and a two-hundred day simple moving average of GBX 1,708.11. The company has a market cap of £6.24 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of -2.30 and a beta of 0.40.

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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