JPMorgan Chase & Co. Cuts Hiscox (HSX) Price Target to GBX 1,725

Hiscox (LON:HSX) had its price objective reduced by JPMorgan Chase & Co. from GBX 1,815 ($23.72) to GBX 1,725 ($22.54) in a research note published on Tuesday, February 5th. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on HSX. Peel Hunt reaffirmed a reduce rating on shares of Hiscox in a research note on Thursday, November 29th. UBS Group reaffirmed a neutral rating on shares of Hiscox in a research note on Tuesday, November 20th. Shore Capital reaffirmed an under review rating on shares of Hiscox in a research note on Monday, November 5th. Barclays boosted their target price on shares of Hiscox from GBX 1,427 ($18.65) to GBX 1,435 ($18.75) and gave the stock an underweight rating in a research note on Thursday, December 13th. Finally, Royal Bank of Canada decreased their target price on shares of Hiscox from GBX 1,725 ($22.54) to GBX 1,650 ($21.56) and set a sector performer rating on the stock in a research note on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Hiscox has an average rating of Hold and an average target price of GBX 1,506.33 ($19.68).

LON:HSX traded up GBX 28 ($0.37) during mid-day trading on Tuesday, reaching GBX 1,627 ($21.26). The stock had a trading volume of 899,386 shares, compared to its average volume of 721,158. Hiscox has a 12 month low of GBX 1,069.50 ($13.97) and a 12 month high of GBX 1,526 ($19.94).

The firm also recently declared a dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.29 per share. This represents a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Hiscox’s previous dividend of $0.13.

In other news, insider Thomas Hürlimann bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average price of GBX 1,580 ($20.65) per share, for a total transaction of £79,000 ($103,227.49). Also, insider Colin D. Keogh bought 914 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average price of GBX 1,602 ($20.93) per share, for a total transaction of £14,642.28 ($19,132.73).

Hiscox Company Profile

Hiscox Ltd, together with its subsidiaries, provides insurance and reinsurance services. The company operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re & ILS, and Corporate Centre. It provides commercial insurance for small-and medium-sized businesses, including household, fine art and collectibles, and luxury motor via brokers, through a growing network of partnerships, and directly to consumers.

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Analyst Recommendations for Hiscox (LON:HSX)

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