Hiscox (LON:HSX) Trading 9.4% Higher – Here’s What Happened

Hiscox Ltd (LON:HSX) was up 9.4% during mid-day trading on Friday . The stock traded as high as GBX 1,794 and last traded at GBX 1,793. Approximately 19,090,760 shares were traded during trading, an increase of 37% from the average daily volume of 13,984,290 shares. The stock had previously closed at GBX 1,639.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HSX shares. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,148 price objective on shares of Hiscox in a report on Thursday, May 7th. Berenberg Bank increased their target price on Hiscox from GBX 1,760 to GBX 1,900 and gave the company a “buy” rating in a report on Friday, May 8th. The Goldman Sachs Group raised their price target on Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada raised Hiscox to an “outperform” rating and lifted their price target for the stock from GBX 1,710 to GBX 1,850 in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Hiscox from GBX 1,600 to GBX 1,800 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hiscox presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,645.17.

Hiscox Trading Up 9.4%

The business’s fifty day simple moving average is GBX 1,549.88 and its 200-day simple moving average is GBX 1,461.84. The firm has a market cap of £5.76 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of -2.30 and a beta of 0.37.

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.