Hiscox (LON:HSX) Price Target Cut to GBX 1,487 by Analysts at Berenberg Bank

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Hiscox (LON:HSX) had its price objective reduced by Berenberg Bank from GBX 1,581 ($20.66) to GBX 1,487 ($19.43) in a report issued on Tuesday, Digital Look reports. The firm presently has a “hold” rating on the stock. Berenberg Bank’s price objective would indicate a potential downside of 7.70% from the company’s previous close.

A number of other analysts have also issued reports on HSX. Peel Hunt restated a “reduce” rating on shares of Hiscox in a report on Tuesday. Morgan Stanley began coverage on Hiscox in a report on Friday, May 17th. They issued an “equal weight” rating and a GBX 1,619 ($21.16) target price for the company. Canaccord Genuity upped their price target on shares of Hiscox from GBX 1,580 ($20.65) to GBX 1,600 ($20.91) and gave the stock a “sell” rating in a research note on Tuesday, July 30th. UBS Group reaffirmed a “neutral” rating on shares of Hiscox in a research note on Monday, July 29th. Finally, Royal Bank of Canada upped their price target on shares of Hiscox from GBX 1,675 ($21.89) to GBX 1,700 ($22.21) and gave the stock a “sector performer” rating in a research note on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of GBX 1,565.73 ($20.46).

HSX opened at GBX 1,611 ($21.05) on Tuesday. The stock has a fifty day moving average of GBX 1,626.90 and a 200-day moving average of GBX 1,638.67. The firm has a market capitalization of $4.61 billion and a P/E ratio of 37.12. Hiscox has a 12-month low of GBX 1,411 ($18.44) and a 12-month high of GBX 1,795 ($23.45). The company has a quick ratio of 0.10, a current ratio of 0.44 and a debt-to-equity ratio of 30.74.

In other Hiscox news, insider Richard Watson sold 10,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of GBX 1,585 ($20.71), for a total transaction of £158,500 ($207,108.32). Also, insider Bronek E. Masojada sold 37,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of GBX 1,575 ($20.58), for a total transaction of £590,625 ($771,756.17).

Hiscox Company Profile

Hiscox Ltd, together with its subsidiaries, provides insurance and reinsurance services. The company operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re & ILS, and Corporate Centre. It provides commercial insurance for small-and medium-sized businesses, including household, fine art and collectibles, and luxury motor via brokers, through a growing network of partnerships, and directly to consumers.

See Also: Price to Earnings Ratio (PE)

Analyst Recommendations for Hiscox (LON:HSX)

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