Hiscox (LON:HSX) Hits New 12-Month High – Here’s Why

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Berenberg Bank restated a “buy” rating and issued a GBX 1,580 target price on shares of Hiscox in a research note on Thursday, November 6th. Jefferies Financial Group upgraded shares of Hiscox to a “buy” rating and cut their price objective for the stock from GBX 1,500 to GBX 1,068 in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. raised their target price on Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,453.50.

Hiscox Stock Performance

The firm has a market cap of £4.99 billion, a price-to-earnings ratio of 9.03, a PEG ratio of -2.30 and a beta of 0.65. The business has a fifty day simple moving average of GBX 1,449.40 and a 200-day simple moving average of GBX 1,379.99.

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.