Hiscox (LON:HSX) Reaches New 1-Year High – Here’s Why

Hiscox Ltd (LON:HSX) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 1,556 and last traded at GBX 1,538, with a volume of 1600979 shares trading hands. The stock had previously closed at GBX 1,462.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HSX shares. The Goldman Sachs Group lifted their price objective on shares of Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Berenberg Bank restated a “buy” rating and set a GBX 1,580 price target on shares of Hiscox in a report on Thursday, November 6th. Jefferies Financial Group raised shares of Hiscox to a “buy” rating and reduced their price objective for the stock from GBX 1,500 to GBX 1,068 in a research report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hiscox from GBX 1,400 to GBX 1,500 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,453.50.

Hiscox Stock Performance

The stock has a 50 day moving average price of GBX 1,454.20 and a 200 day moving average price of GBX 1,382.20. The company has a market capitalization of £4.98 billion, a P/E ratio of 9.00, a PEG ratio of -2.30 and a beta of 0.65.

About Hiscox

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.