Hiscox Ltd (HSX) Given Reduce Rating at Peel Hunt
Hiscox Ltd (LON:HSX)‘s stock had its “reduce” rating reissued by investment analysts at Peel Hunt in a note issued to investors on Monday. They currently have a GBX 870 ($10.77) price objective on the stock. Peel Hunt’s price objective suggests a potential downside of 16.67% from the stock’s current price.
Several other brokerages have also recently issued reports on HSX. Barclays PLC lifted their target price on shares of Hiscox from GBX 714 ($8.84) to GBX 728 ($9.01) and gave the stock an “underweight” rating in a report on Thursday, July 21st. Shore Capital reaffirmed a “buy” rating on shares of Hiscox in a report on Monday, July 25th. Credit Suisse Group AG boosted their price objective on shares of Hiscox from GBX 1,160 ($14.36) to GBX 1,180 ($14.60) and gave the company an “outperform” rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 1,125 ($13.92) price objective on shares of Hiscox in a report on Tuesday, July 26th. Finally, Canaccord Genuity boosted their price objective on shares of Hiscox from GBX 865 ($10.71) to GBX 980 ($12.13) and gave the company a “sell” rating in a report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 993.69 ($12.30).
Shares of Hiscox (LON:HSX) traded up 0.39% on Monday, reaching GBX 1041.00. 249,810 shares of the company’s stock traded hands. Hiscox has a 52-week low of GBX 896.50 and a 52-week high of GBX 1,106.00. The stock’s market cap is GBX 2.93 billion. The firm’s 50-day moving average is GBX 1,060.49 and its 200-day moving average is GBX 1,007.27.
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In related news, insider Watson,Richard sold 96,234 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of GBX 1,084 ($13.42), for a total transaction of £1,043,176.56 ($1,291,060.10). Also, insider Anne MacDonald bought 2,823 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were bought at an average price of GBX 1,041 ($12.88) per share, with a total value of £29,387.43 ($36,370.58).
Hiscox Limited is a Bermuda-based specialist insurer company. The Company is a holding company for subsidiaries involved in the business of insurance and reinsurance in Bermuda, the United States, the United Kingdom, Guernsey, Europe and Asia. It operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re and Corporate Centre.
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