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The latest update is out from Hiscox ( (GB:HSX) ).
Hiscox Ltd announced the purchase of 40,000 of its own ordinary shares as part of its ongoing share buyback programme. The shares were bought at a volume-weighted average price of 1,255.75 GBp and will be cancelled, which is expected to positively impact the company’s stock value and shareholder returns.
The most recent analyst rating on (GB:HSX) stock is a Hold with a £13.30 price target. To see the full list of analyst forecasts on Hiscox stock, see the GB:HSX Stock Forecast page.
Spark’s Take on GB:HSX Stock
According to Spark, TipRanks’ AI Analyst, GB:HSX is a Outperform.
Hiscox’s strong earnings performance and strategic initiatives drive a positive outlook, despite technical neutrality and cash flow concerns. The low valuation and capital returns are attractive, but attention to cash flow and expense management is advised.
To see Spark’s full report on GB:HSX stock, click here.
More about Hiscox
Hiscox Ltd operates in the insurance industry, offering a range of insurance products and services. The company focuses on providing specialty insurance coverage, catering to a diverse market that includes businesses and high-net-worth individuals.
Average Trading Volume: 1,274,612
Technical Sentiment Signal: Strong Buy
Current Market Cap: £4.21B
Learn more about HSX stock on TipRanks’ Stock Analysis page.