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The latest update is out from Hiscox ( (GB:HSX) ).
Hiscox Ltd has announced an increase in its share repurchase program from $175 million to $275 million to return additional capital to shareholders. This move reflects the company’s strong performance and capital formation, allowing it to enhance shareholder returns while maintaining a robust balance sheet. The increased buyback is part of Hiscox’s strategy to capitalize on growth opportunities, particularly in its retail sector, and to improve balance sheet efficiency.
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 financial prospects and strategic initiatives are offset by cash flow challenges and mixed technical indicators. The company’s undervaluation and positive corporate actions contribute positively to the stock’s attractiveness. While opportunities for growth exist, investors should monitor the company’s ability to manage cash flow and maintain profitability.
To see Spark’s full report on GB:HSX stock, click here.
More about Hiscox
Hiscox is a global specialist insurer headquartered in Bermuda and listed on the London Stock Exchange. The company offers a diverse portfolio of insurance products across commercial and personal lines through its retail businesses in the USA, UK, and Europe. Hiscox also underwrites internationally traded, larger-ticket business and reinsurance through Hiscox London Market and Hiscox Re & ILS. The company employs over 3,000 people in 13 countries and focuses on balancing catastrophe-exposed and less volatile specialty business for profitable growth.
Average Trading Volume: 1,151,009
Technical Sentiment Signal: Strong Buy
Current Market Cap: £4.26B
Find detailed analytics on HSX stock on TipRanks’ Stock Analysis page.