Hiscox (LON:HSX) Price Target Raised to GBX 1,500 at JPMorgan Chase & Co.

Hiscox (LON:HSX) had its price target lifted by stock analysts at JPMorgan Chase & Co. from GBX 1,400 to GBX 1,500 in a note issued to investors on Thursday,Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.94% from the stock’s previous close.

Several other equities analysts also recently commented on HSX. Berenberg Bank boosted their target price on shares of Hiscox from GBX 1,450 to GBX 1,580 and gave the stock a “buy” rating in a report on Thursday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 1,400 price target on shares of Hiscox in a report on Tuesday, September 2nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,485.

Hiscox Stock Performance

HSX stock opened at GBX 1,340 on Thursday. Hiscox has a fifty-two week low of GBX 1,008 and a fifty-two week high of GBX 1,454. The business’s 50 day moving average price is GBX 1,345.61 and its two-hundred day moving average price is GBX 1,285.78. The company has a market capitalization of £4.44 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of -2.30 and a beta of 0.65.

Hiscox declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 6th that permits the company to repurchase $275.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.