Hiscox (LON:HSX) Shares Break Above Fifty Day Moving Average – Here’s Why

Shares of Hiscox Ltd (LON:HSX) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of GBX 1,860.55 and traded as high as GBX 1,881. Hiscox shares last traded at GBX 1,875, with a volume of 1,031,390 shares changing hands.

Analysts Set New Price Targets

HSX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Hiscox from GBX 1,800 to GBX 2,050 and gave the company an “overweight” rating in a research report on Friday, July 10th. Peel Hunt reissued an “add” rating and set a GBX 1,960 target price on shares of Hiscox in a research report on Wednesday, August 5th. Citigroup boosted their price objective on Hiscox from GBX 1,611 to GBX 1,846 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 2,000 price objective on shares of Hiscox in a research report on Thursday, August 6th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 2,150 price objective on shares of Hiscox in a research report on Monday, August 24th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 1,838.14.

Hiscox Price Performance

The firm has a market cap of £5.93 billion, a price-to-earnings ratio of 9.90, a PEG ratio of -2.30 and a beta of 0.40. The stock has a 50-day moving average price of GBX 1,860.55 and a 200 day moving average price of GBX 1,702.88.

Hiscox Company Profile

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.