Hiscox (LON:HSX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Hiscox Ltd (LON:HSX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,302.13 and traded as high as GBX 1,347. Hiscox shares last traded at GBX 1,329, with a volume of 1,445,116 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HSX shares. Jefferies Financial Group raised shares of Hiscox to a “buy” rating and dropped their price target for the stock from GBX 1,500 to GBX 1,068 in a research note on Wednesday, November 12th. JPMorgan Chase & Co. increased their price target 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. Berenberg Bank restated a “buy” rating and issued a GBX 1,580 price target on shares of Hiscox in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 1,400 price objective on shares of Hiscox in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Hiscox presently has an average rating of “Moderate Buy” and an average price target of GBX 1,401.60.

Hiscox Trading Up 0.7%

The company has a fifty day moving average price of GBX 1,359.50 and a two-hundred day moving average price of GBX 1,302.13. The firm has a market cap of £4.43 billion, a P/E ratio of 7.85, a PEG ratio of -2.30 and a beta of 0.65.

Hiscox declared that its board has initiated a share buyback program on Wednesday, August 6th that permits the company to buyback $275.00 million in shares. This buyback authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.