Hiscox (LON:HSX) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Hiscox Ltd (LON:HSX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,370.07 and traded as high as GBX 1,459. Hiscox shares last traded at GBX 1,437, with a volume of 1,318,738 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HSX shares. JPMorgan Chase & Co. increased their price objective on Hiscox from GBX 1,400 to GBX 1,500 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group raised shares of Hiscox to a “buy” rating and reduced their price target for the stock from GBX 1,500 to GBX 1,068 in a research report on Wednesday, November 12th. The Goldman Sachs Group raised their price target 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. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,580 price objective on shares of Hiscox in a research note on Thursday, November 6th. Five 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 target price of GBX 1,453.50.

Hiscox Trading Up 0.9%

The firm has a 50-day simple moving average of GBX 1,428.89 and a two-hundred day simple moving average of GBX 1,370.07. The company has a market capitalization of £4.69 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of -2.30 and a beta of 0.65.

Hiscox Company Profile

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.