Hiscox price target raised as Mirador Capital trims Goldman Sachs stake

Analysts at Citigroup lifted their price target for insurer Hiscox Ltd. to GBX 1,846 from GBX 1,611, maintaining a neutral rating. Other research houses also adjusted targets – Peel Hunt to GBX 1,960, Jefferies to GBX 1,148, RBC to GBX 1,850, JPMorgan to GBX 2,050 and Berenberg to GBX 1,900 – resulting in a consensus moderate‑buy rating and an average target of GBX 1,802.43. Hiscox shares opened at GBX 1,810, with a market capitalisation of £5.81 billion and a P/E of 10.34.

Mirador Capital Partners LP reduced its holding in The Goldman Sachs Group Inc. by 24.6% in the second quarter, selling 1,495 shares and ending the period with 4,591 shares valued at about $4.64 million. The move follows a series of position changes by other hedge funds in Goldman Sachs. The bank’s stock opened at $1,062.20, trading with a market capitalisation of $313.36 billion and a P/E of 16.39.