Hiscox (LON:HSX) Sets New 52-Week High – Still a Buy?

Hiscox Ltd (LON:HSX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 1,481 and last traded at GBX 1,434, with a volume of 36714391 shares traded. The stock had previously closed at GBX 1,389.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a report on Thursday, November 6th. Jefferies Financial Group upgraded shares of Hiscox to a “buy” rating and lowered their price objective for the stock from GBX 1,500 to GBX 1,068 in a research report on Wednesday, November 12th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,580 target price on shares of Hiscox in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 1,401.60.

Hiscox Trading Up 3.2%

The firm has a market capitalization of £4.65 billion, a P/E ratio of 8.41, a P/E/G ratio of -2.30 and a beta of 0.65. The company’s fifty day moving average is GBX 1,372.78 and its 200-day moving average is GBX 1,341.51.

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.