Hiscox (HSX) Now Covered by Morgan Stanley

Morgan Stanley began coverage on shares of Hiscox (LON:HSX) in a research report sent to investors on Friday, ThisIsMoney.Co.Uk reports. The firm issued an equal weight rating and a GBX 1,619 ($21.16) price target on the stock.

HSX has been the topic of several other reports. Numis Securities restated an add rating and set a GBX 1,740 ($22.74) price objective on shares of Hiscox in a research note on Tuesday, February 19th. Berenberg Bank cut Hiscox to a hold rating and dropped their price objective for the company from GBX 1,711 ($22.36) to GBX 1,569 ($20.50) in a research note on Thursday, April 11th. Shore Capital restated a hold rating on shares of Hiscox in a research note on Wednesday, May 8th. Jefferies Financial Group dropped their price objective on Hiscox from GBX 1,638 ($21.40) to GBX 1,585 ($20.71) and set a hold rating on the stock in a research note on Tuesday, May 14th. Finally, HSBC dropped their price objective on Hiscox from GBX 1,571 ($20.53) to GBX 1,490 ($19.47) and set a hold rating on the stock in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of GBX 1,534.55 ($20.05).

Shares of HSX opened at GBX 1,659 ($21.68) on Friday. Hiscox has a 12-month low of GBX 1,411 ($18.44) and a 12-month high of GBX 1,727 ($22.57). The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $4.77 billion and a P/E ratio of 37.45.

The business also recently disclosed a dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 9th. This is a boost from Hiscox’s previous dividend of $0.13. This represents a yield of 1.37%. Hiscox’s dividend payout ratio (DPR) is 0.72%.

In other news, insider Roberts S. Childs sold 400 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of GBX 1,630 ($21.30), for a total transaction of £6,520 ($8,519.53). Also, insider Thomas Hürlimann bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average cost of GBX 1,580 ($20.65) per share, with a total value of £79,000 ($103,227.49).

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.

Further Reading: Derivative

Analyst Recommendations for Hiscox (LON:HSX)

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