Published On: Sun, Sep 18th, 2016

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.

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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.

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