Canaccord Genuity Lowers Hiscox (HSX) to Hold

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Canaccord Genuity cut shares of Hiscox (LON:HSX) to a hold rating in a research report report published on Tuesday morning. They currently have GBX 1,470 ($19.21) price objective on the stock, down from their previous price objective of GBX 1,875 ($24.50).

A number of other analysts have also recently commented on the stock. Berenberg Bank boosted their target price on shares of Hiscox from GBX 1,630 ($21.30) to GBX 1,790 ($23.39) and gave the stock a buy rating in a research note on Monday, September 3rd. Peel Hunt reissued a reduce rating on shares of Hiscox in a research note on Tuesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Hiscox from GBX 1,575 ($20.58) to GBX 1,725 ($22.54) and gave the stock a sector performer rating in a research note on Tuesday, August 28th. Barclays boosted their target price on shares of Hiscox from GBX 1,314 ($17.17) to GBX 1,427 ($18.65) and gave the stock an underweight rating in a research note on Friday, September 7th. Finally, Shore Capital reissued an under review rating on shares of Hiscox in a research note on Monday, November 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Hiscox currently has an average rating of Hold and a consensus target price of GBX 1,501.92 ($19.63).

Shares of HSX stock traded up GBX 18 ($0.24) on Tuesday, reaching GBX 1,570 ($20.51). 1,038,413 shares of the company were exchanged, compared to its average volume of 721,158. Hiscox has a 1 year low of GBX 1,069.50 ($13.97) and a 1 year high of GBX 1,526 ($19.94).

In related news, insider Hamayou Akbar Hussain sold 40,255 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of GBX 1,667 ($21.78), for a total transaction of £671,050.85 ($876,846.79). Also, insider Bronek E. Masojada sold 50,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of GBX 1,695 ($22.15), for a total transaction of £847,500 ($1,107,408.86).

About Hiscox

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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