Hiscox (LON:HSX) Hits New 52-Week High – Still a Buy?

Hiscox Ltd (LON:HSX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,537 and last traded at GBX 1,536, with a volume of 389611 shares traded. The stock had previously closed at GBX 1,483.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HSX shares. 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. JPMorgan Chase & Co. raised their target price on Hiscox from GBX 1,400 to GBX 1,500 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group raised shares of Hiscox to a “buy” rating and dropped their price objective for the stock from GBX 1,500 to GBX 1,068 in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 1,453.50.

Hiscox Price Performance

The company has a market cap of £4.89 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of -2.30 and a beta of 0.65. The firm has a 50-day moving average price of GBX 1,420.24 and a 200 day moving average price of GBX 1,366.21.

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.