Peel Hunt Reaffirms Reduce Rating for Hiscox Ltd (HSX)
Hiscox Ltd (LON:HSX)‘s stock had its “reduce” rating reissued by equities research analysts at Peel Hunt in a report issued on Monday. They currently have a GBX 870 ($11.36) price target on the stock. Peel Hunt’s price objective would suggest a potential downside of 16.67% from the company’s previous close.
A number of other research analysts have also recently weighed in on the stock. Credit Suisse Group AG reiterated an “outperform” rating and set a GBX 1,180 ($15.40) price objective on shares of Hiscox in a research report on Friday. Shore Capital reissued a “buy” rating on shares of Hiscox in a research note on Wednesday, October 5th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 1,125 ($14.68) target price on shares of Hiscox in a research note on Monday, September 12th. Citigroup Inc. reissued a “neutral” rating and set a GBX 1,045 ($13.64) target price on shares of Hiscox in a research note on Wednesday, August 24th. Finally, Barclays PLC reissued an “underweight” rating on shares of Hiscox in a research note on Monday, August 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of GBX 993.69 ($12.97).
Hiscox (LON:HSX) opened at 1044.00 on Monday. The company has a 50 day moving average of GBX 1,060.49 and a 200 day moving average of GBX 1,007.27. The company’s market capitalization is GBX 2.94 billion. Hiscox has a 52 week low of GBX 896.50 and a 52 week high of GBX 1,106.00.
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In other news, insider Keogh,Colin D bought 41 shares of Hiscox stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of GBX 1,036 ($13.52) per share, for a total transaction of £424.76 ($554.44). Also, insider Watson,Richard sold 96,234 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of GBX 1,084 ($14.15), for a total transaction of £1,043,176.56 ($1,361,671.53).
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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