JPMorgan Chase & Co. Reiterates Overweight Rating for Hiscox Ltd (HSX)
Hiscox Ltd (LON:HSX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a report released on Monday. They currently have a GBX 1,125 ($14.98) price target on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 5.34% from the company’s current price.
HSX has been the subject of several other reports. Barclays PLC lifted their target price on shares of Hiscox from GBX 684 ($9.11) to GBX 714 ($9.51) and gave the stock an “underweight” rating in a report on Wednesday, June 29th. Shore Capital reissued a “buy” rating on shares of Hiscox in a report on Monday, July 25th. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 1,150 ($15.32) price objective on shares of Hiscox in a report on Monday, July 4th. Canaccord Genuity boosted their price objective on shares of Hiscox from GBX 865 ($11.52) to GBX 980 ($13.05) and gave the company a “sell” rating in a report on Tuesday, July 26th. Finally, Peel Hunt decreased their price objective on shares of Hiscox from GBX 880 ($11.72) to GBX 870 ($11.59) and set a “reduce” rating for the company in a report on Friday, September 9th. 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 presently has a consensus rating of “Hold” and a consensus price target of GBX 993.69 ($13.24).
Shares of Hiscox (LON:HSX) traded up 0.09% during midday trading on Monday, hitting GBX 1068.00. The stock had a trading volume of 717,757 shares. The company’s market cap is GBX 3.01 billion. The stock’s 50-day moving average price is GBX 1,064.57 and its 200 day moving average price is GBX 996.47. Hiscox has a 52 week low of GBX 896.50 and a 52 week high of GBX 1,099.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/17/jpmorgan-chase-co-reiterates-overweight-rating-for-hiscox-ltd-hsx.html
The company also recently declared a dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 4th were given a GBX 8.50 ($0.11) dividend. The ex-dividend date was Thursday, August 4th. This represents a dividend yield of 0.8%.
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 ($14.44), for a total transaction of £1,043,176.56 ($1,389,420.03). Also, insider Keogh,Colin D bought 41 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average price of GBX 1,036 ($13.80) per share, with a total value of £424.76 ($565.74).
Hiscox Company Profile
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.
Receive News & Ratings for Hiscox Ltd Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hiscox Ltd and related companies with MarketBeat.com’s FREE daily email newsletter.