Hiscox (LON:HSX) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Hiscox Ltd (LON:HSX) shares passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of GBX 1,860.55 and traded as high as GBX 1,881. Hiscox shares last traded at GBX 1,875, with a volume of 1,031,390 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HSX. JPMorgan Chase & Co. boosted their target price on shares of Hiscox from GBX 1,800 to GBX 2,050 and gave the stock an “overweight” rating in a report on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,000 price target on shares of Hiscox in a report on Thursday, August 6th. Peel Hunt restated an “add” rating and issued a GBX 1,960 price target on shares of Hiscox in a report on Wednesday, August 5th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,150 price objective on shares of Hiscox in a research report on Monday, August 24th. Finally, Citigroup boosted their price objective on shares of Hiscox from GBX 1,611 to GBX 1,846 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,838.14.

Hiscox Stock Up 1.2%

The company’s 50 day moving average price is GBX 1,860.55 and its 200 day moving average price is GBX 1,702.88. The firm has a market capitalization of £5.93 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of -2.30 and a beta of 0.40.

About Hiscox

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from
our roots as a niche Lloyd’s of London underwriter into a diversified international insurance group operating across direct‑to‑consumer, broker and partner‑distributed retail insurance; large and complex commercial insurance; reinsurance and insurance‑linked strategies.

We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.