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 Wednesday . The company traded as high as GBX 1,556 and last traded at GBX 1,538, with a volume of 1600979 shares traded. The stock had previously closed at GBX 1,462.

Wall Street Analysts Forecast Growth

HSX has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Hiscox from GBX 1,560 to GBX 1,713 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Jefferies Financial Group upgraded Hiscox to a “buy” rating and reduced their target price for the stock from GBX 1,500 to GBX 1,068 in a research report on Wednesday, November 12th. Berenberg Bank restated a “buy” rating and issued a GBX 1,580 price target on shares of Hiscox in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Hiscox presently has an average rating of “Moderate Buy” and an average target price of GBX 1,453.50.

Hiscox Stock Up 5.3%

The firm’s 50 day simple moving average is GBX 1,449.40 and its 200-day simple moving average is GBX 1,379.99. The company has a market capitalization of £4.99 billion, a PE ratio of 9.03, a P/E/G ratio of -2.30 and a beta of 0.65.

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.