Hiscox (LON:HSX) Stock Price Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Hiscox shares rose 1.2%, trading as high as GBX 1,881 and closing at GBX 1,875, above the 50-day moving average of GBX 1,860.55 on volume of about 1.03 million shares.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy, while the consensus rating is “Moderate Buy” with an average price target of GBX 1,838.14.
• Hiscox has a market capitalization of approximately £5.93 billion, a P/E ratio of 9.90, and a 200-day moving average of GBX 1,702.88.

Hiscox Ltd (LON:HSX - Get Free Report) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of GBX 1,860.55 and traded as high as GBX 1,881. Hiscox shares last traded at GBX 1,875, with a volume of 1,031,390 shares changing hands.

Wall Street Analyst Weigh In

HSX has been the subject of several research reports. Berenberg Bank reissued a "buy" rating and issued a GBX 2,150 price objective on shares of Hiscox in a research report on Monday, August 24th. Citigroup raised their target price 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 set a GBX 2,000 price target on shares of Hiscox in a research note on Thursday, August 6th. Peel Hunt reiterated an "add" rating and issued a GBX 1,960 price target on shares of Hiscox in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on Hiscox from GBX 1,800 to GBX 2,050 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Hiscox has an average rating of "Moderate Buy" and a consensus price target of GBX 1,838.14.

Hiscox Stock Up 1.2%

The company has a market cap of £5.93 billion, a P/E ratio of 9.90, a P/E/G ratio of -2.30 and a beta of 0.40. The business's 50 day moving average is GBX 1,860.55 and its 200 day moving average is GBX 1,702.88.

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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