||ORD 6.5P (DI)
||EPS - Basic
||Market Cap (m)
|Hiscox Daily Update: Hiscox is listed in the Nonlife Insurance sector of the London Stock Exchange with ticker HSX. The last closing price for Hiscox was 1,103p.|
Hiscox has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 285,590,484 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Hiscox is £3,147,207,133.68.
|ganthorpe: Are HSX pulling off a version of the three card trick?
They seem to be paying out 60p per share and consolidating with 88 shares for 100 now held.
Based on 1000 shares we get £600 cash capital return
and lose 120 shares worth £950, if the share price stays the same after the consolidation as HSX expect.
A similar thing seems to have happened last year.
What point have I missed?
|b1ggles: Thanks for that, deadly, I guessed it must need to; I had been making the assumption that, as with most of these consolidations/returns of capital, it had been calculated to resume on the same share price; not in this case, clearly.|
|deadly: You are missing the fact that after the ex-rights date the share price should increase to around 676p to reflect the increased value/share. The value/share will not drop, because there are fewer shares.|
|b1ggles: I'm completely bemused about the return of capital.
1000 shares at current share price = £6,520.
After consolidation/dividend = 890 shares @ 652p + dividend 1000 x 50p = £6,300
Surely the value must drop after 18 Mar, due to their use of the NTA as a basis for the consolidation, so why would a holder not sell now and buy after that date?
Or am I missing something???|
|king rat: andrew.shaw
The following table shows NTA as a %of share price. NTA is based on Numis's estimates following the WTC disaster (Cox and BRIT further reduced by me to reflect WTC reserve increases post the Numis note).
Yes, you can make a case for Hiscox having above average management, but that is already reflected to some extent in the price. Also, a lot of their business comes from the unexciting retail insurance sector.
Of the above, I like BRIT best. In my opinion, it offers the best combination of prospects and value.
|andrew.shaw: I believe that the Chubb are still sniffing around the heal's of this company.
It has very tight and focused management.
Their response, and the share price response to the over selling post 11th Sept shows it is a very robust organisation.
I would expect an offer in the £2.50 region to hit the headlines before too long.
If you were wise enough to spot this bargain at £0.70 in September, you will already be whooping with joy, if you are still to buy, there is plenty room for improvement.
Hiscox share price data is direct from the London Stock Exchange