Hiscox (LON:HSX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Hiscox Ltd (LON:HSX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,278.33 and traded as high as GBX 1,404. Hiscox shares last traded at GBX 1,386, with a volume of 1,281,860 shares changing hands.

Analyst Upgrades and Downgrades

HSX has been the subject of several recent research reports. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,460 price objective on shares of Hiscox in a research note on Thursday, July 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 1,400 price objective on shares of Hiscox in a research note on Tuesday, September 2nd. Berenberg Bank upped their price objective on Hiscox from GBX 1,450 to GBX 1,580 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Hiscox in a research note on Friday, August 1st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 1,480.

Hiscox Trading Up 0.5%

The firm has a market cap of £4.63 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of -2.30 and a beta of 0.65. The business’s 50-day simple moving average is GBX 1,341.59 and its two-hundred day simple moving average is GBX 1,278.33.

Hiscox announced that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is 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.