Hiscox (LON:HSX) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Hiscox Ltd (LON:HSX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,308.83 and traded as high as GBX 1,346.21. Hiscox shares last traded at GBX 1,342, with a volume of 602,005 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HSX. Jefferies Financial Group upgraded Hiscox to a “buy” rating and reduced their target price for the stock from GBX 1,500 to GBX 1,068 in a research report on Wednesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Berenberg Bank reiterated a “buy” rating and set a GBX 1,580 price objective on shares of Hiscox in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 1,400 target price on shares of Hiscox in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Hiscox currently has an average rating of “Moderate Buy” and an average target price of GBX 1,401.60.

Hiscox Stock Performance

The company has a market capitalization of £4.44 billion, a PE ratio of 7.87, a P/E/G ratio of -2.30 and a beta of 0.65. The business has a fifty day moving average price of GBX 1,362.60 and a 200 day moving average price of GBX 1,308.83.

Hiscox declared that its board has approved a stock buyback plan on Wednesday, August 6th that allows the company to repurchase $275.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is 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.