Peel Hunt Reiterates Reduce Rating for Hiscox Ltd (LON:HSX)

Hiscox Ltd (LON:HSX)‘s stock had its “reduce” rating restated by research analysts at Peel Hunt in a research note issued on Monday, July 31st. They presently have a GBX 980 ($12.76) price objective on the stock. Peel Hunt’s price objective would suggest a potential downside of 25.76% from the stock’s previous close.

HSX has been the topic of a number of other research reports. Canaccord Genuity raised their price target on Hiscox from GBX 980 ($12.76) to GBX 1,100 ($14.32) and gave the stock a “sell” rating in a research report on Thursday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 1,250 ($16.28) price target on shares of Hiscox in a research report on Tuesday, July 11th. Macquarie restated an “outperform” rating and issued a GBX 1,200 ($15.63) price target on shares of Hiscox in a research report on Tuesday, April 4th. Stockdale Securities restated a “neutral” rating on shares of Hiscox in a research report on Tuesday, April 18th. Finally, Shore Capital restated a “buy” rating on shares of Hiscox in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of GBX 1,176.83 ($15.33).

Hiscox (LON HSX) opened at 1320.00 on Monday. Hiscox has a 1-year low of GBX 978.00 and a 1-year high of GBX 1,378.00. The firm’s 50-day moving average is GBX 1,324.18 and its 200-day moving average is GBX 1,182.34. The stock’s market cap is GBX 3.73 billion.

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In other Hiscox news, insider Colin D. Keogh purchased 2,216 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were purchased at an average cost of GBX 1,248 ($16.25) per share, with a total value of £27,655.68 ($36,014.69). Also, insider Bronek E. Masojada sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of GBX 1,236 ($16.10), for a total value of £618,000 ($804,792.29).

About Hiscox

Hiscox Limited is a Bermuda-based 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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