Hiscox (LON:HSX) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Hiscox (LON:HSX) to a buy rating in a report released on Wednesday morning, Marketbeat.com reports. Jefferies Financial Group currently has GBX 1,068 target price on the stock, down from their previous target price of GBX 1,500.

HSX has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price objective on Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,580 price objective on shares of Hiscox in a report on Thursday, November 6th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 1,400 price target on shares of Hiscox in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Hiscox currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,401.60.

Hiscox Trading Up 1.5%

LON HSX opened at GBX 1,377 on Wednesday. The stock has a market cap of £4.56 billion, a price-to-earnings ratio of 8.08, a PEG ratio of -2.30 and a beta of 0.65. Hiscox has a 12 month low of GBX 1,008 and a 12 month high of GBX 1,454. The company’s 50 day moving average is GBX 1,353.20 and its two-hundred day moving average is GBX 1,293.56.

Hiscox declared that its board has approved a share repurchase plan on Wednesday, August 6th that allows the company to buyback $275.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

About Hiscox

Hiscox Ltd, through its subsidiaries, provides insurance and reinsurance services in the United Kingdom, Europe, the United States, and internationally. The company operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re & ILS, and Corporate Centre. It offers commercial insurance for small-and medium-sized businesses; and personal lines cover, including high-value household, fine art, and luxury motor, as well as artwork, antiques, classic cars, jewelry, collectables, and other assets through brokers, partners, and direct-to-consumers.