Hiscox (LON:HSX) Hits New 1-Year High Following Analyst Upgrade

Hiscox Ltd (LON:HSX) shares hit a new 52-week high during mid-day trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 2,150 to GBX 2,250. Berenberg Bank currently has a buy rating on the stock. Hiscox traded as high as GBX 1,971 and last traded at GBX 1,966, with a volume of 253,782 shares changing hands. The stock had previously closed at GBX 1,939.

HSX has been the topic of a number of other reports. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,148 target price on shares of Hiscox in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Hiscox from GBX 1,800 to GBX 2,050 and gave the company an “overweight” rating in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 2,000 price target on shares of Hiscox in a research note on Thursday, August 6th. Peel Hunt restated an “add” rating and set a GBX 1,960 price target on shares of Hiscox in a report on Wednesday, August 5th. Finally, Citigroup lifted their price target on shares of Hiscox from GBX 1,611 to GBX 1,846 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,852.43.

Key Hiscox News

Here are the key news stories impacting Hiscox this week:

• Positive Sentiment: Hiscox reported a 9.5% rise in nine-month premiums to $4.44 billion, with retail growth accelerating. The update points to solid demand across its retail business. Hiscox insurance premiums rise 9.5% to $4.44bn as retail growth accelerates
• Positive Sentiment: Berenberg raised its price target to GBX 2,250 from GBX 2,150 and reiterated a “buy” rating, signaling greater confidence in the shares’ potential. Berenberg Bank stock recommendations
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and GBX 1,148 price target, presenting a substantially more bearish view than Berenberg and a potential drag on sentiment. Jefferies Financial Group stock recommendations

Hiscox Price Performance

The company’s 50 day moving average price is GBX 1,864.45 and its 200 day moving average price is GBX 1,708.11. The firm has a market cap of £6.24 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of -2.30 and a beta of 0.40.

About Hiscox

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from
our roots as a niche Lloyd’s of London underwriter into a diversified international insurance group operating across direct‑to‑consumer, broker and partner‑distributed retail insurance; large and complex commercial insurance; reinsurance and insurance‑linked strategies.

We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.