Hiscox
Hiscox Ltd, together with its subsidiaries, provides insurance and reinsurance services. The last earnings update was 45 days ago. More info.
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HSX Share Price and Events
7 Day Returns
1 Year Returns
HSX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Hiscox (HSX) | 1.2% | 5.2% | 7.4% | 10.6% | 81.6% | 104.4% |
| GB Insurance | 3.5% | 7.8% | 9.9% | -5% | 14.9% | 23.7% |
| GB Market | 0.6% | 3.6% | 6.9% | 1.1% | 15.6% | 6.2% |
1 Year Return vs Industry and Market
- HSX outperformed the Insurance industry which returned -5% over the past year.
- HSX outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
HSX Value
Is Hiscox undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Hiscox
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Hiscox.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity = $9.65 * 13.5% |
$1.30 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 8 analysts. | $9.65 |
| Discount Rate (Cost of Equity) | See below | 6.3% |
| Perpetual Growth Rate | 10-Year GB Government Bond Rate | 1.2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year GB Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 6% |
| Insurance Unlevered Beta | Simply Wall St/ S&P Global | 0.72 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 21%) (11.37%)) |
0.859 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.86 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.859 * 5.96%) |
6.35% |
Discounted Cash Flow Calculation for LSE:HSX using Excess Returns Model Model
The calculations below outline how an intrinsic value for Hiscox is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (13.5% – 6.35%) * $9.65) |
$0.69 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $0.69 / (6.35% - 1.23%) |
$13.39 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $9.65 + $13.39 |
$23.04 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/GBP
(Reporting currency to currency of LSE:HSX) |
0.77 |
| Value per Share (GBP) |
= Value per Share in USD x Exchange Rate (USD/GBP)
= $23.04 x 0.77 |
£17.75 |
| Value per share (GBP) | From above. | £17.75 |
| Current discount | Discount to share price of
£16.49
= -1 x (£16.49 - £17.75) / £17.75 |
7.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Hiscox's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Hiscox's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Hiscox's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Hiscox's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.45 |
| LSE:HSX Share Price ** | LSE (2019-04-18) in GBP | £16.49 |
| LSE:HSX Share Price converted to USD reporting currency | Exchange rate (GBP/ USD) 1.298 | $21.41 |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio | Median Figure of 19 Publicly-Listed Insurance Companies | 16.26x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 797 Publicly-Listed Companies | 16.29x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Hiscox.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:HSX Share Price ÷ EPS (both in USD) = 21.41 ÷ 0.45 |
47.42x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hiscox is overvalued based on earnings compared to the GB Insurance industry average.
- Hiscox is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Hiscox's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 47.42x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
27.2%per year |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio | Median Figure of 16 Publicly-Listed Insurance Companies | 1.54x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 564 Publicly-Listed Companies | 1.48x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 47.42x ÷ 27.2% |
1.74x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hiscox is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Hiscox's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $8.05 |
| LSE:HSX Share Price * | LSE (2019-04-18) in GBP | £16.49 |
| LSE:HSX Share Price converted to USD reporting currency | Exchange rate (GBP/ USD) 1.298 | $21.41 |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio | Median Figure of 24 Publicly-Listed Insurance Companies | 2.12x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,367 Publicly-Listed Companies | 1.51x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:HSX Share Price ÷ Book Value per Share (both in USD) = 21.41 ÷ 8.05 |
2.66x |
* Primary Listing of Hiscox.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hiscox is overvalued based on assets compared to the GB Insurance industry average.
Value checks
We assess Hiscox's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check) Hiscox has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
HSX Future Performance
How is Hiscox expected to perform in the next 1 to 3 years based on estimates from 9 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Hiscox's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Hiscox's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
- Hiscox's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:HSX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 27.2% |
| LSE:HSX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 16.3% |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate | Market Cap Weighted Average | 11.8% |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate | Market Cap Weighted Average | 18.3% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 11% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 4,570 | 392 | 7 | |
| 2020-12-31 | 4,281 | 350 | 9 | |
| 2019-12-31 | 3,993 | 314 | 8 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 2,659 | 300 | 128 |
| 2018-09-30 | 2,645 | 344 | 96 |
| 2018-06-30 | 2,693 | 383 | 65 |
| 2018-03-31 | 2,833 | 243 | 52 |
| 2017-12-31 | 2,575 | 95 | 34 |
| 2017-09-30 | 2,655 | 159 | 177 |
| 2017-06-30 | 2,508 | 218 | 304 |
| 2017-03-31 | 2,348 | 145 | 360 |
| 2016-12-31 | 2,202 | 70 | 416 |
| 2016-09-30 | 2,184 | -89 | 400 |
| 2016-06-30 | 2,090 | -257 | 370 |
| 2016-03-31 | 2,203 | -88 | 351 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Hiscox Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 1.42 | 1.78 | 1.26 | 7.00 |
| 2020-12-31 | 1.26 | 1.45 | 1.19 | 8.00 |
| 2019-12-31 | 1.14 | 1.27 | 1.02 | 8.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.45 |
| 2018-09-30 | 0.34 |
| 2018-06-30 | 0.23 |
| 2018-03-31 | 0.18 |
| 2017-12-31 | 0.12 |
| 2017-09-30 | 0.63 |
| 2017-06-30 | 1.08 |
| 2017-03-31 | 1.28 |
| 2016-12-31 | 1.48 |
| 2016-09-30 | 1.43 |
| 2016-06-30 | 1.32 |
| 2016-03-31 | 1.24 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Hiscox's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Hiscox has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
HSX Past Performance
How has Hiscox performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Hiscox's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Hiscox's 1-year earnings growth exceeds its 5-year average (277.5% vs -21.8%)
- Hiscox's earnings growth has exceeded the GB Insurance industry average in the past year (277.5% vs 5.3%).
Earnings and Revenue History
All data from Hiscox Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 2,658.53 | 128.00 | 605.72 | |
| 2018-09-30 | 2,645.42 | 95.90 | 594.04 | |
| 2018-06-30 | 2,693.26 | 64.62 | 594.83 | |
| 2018-03-31 | 2,832.63 | 51.88 | 601.55 | |
| 2017-12-31 | 2,575.04 | 33.90 | 527.02 | |
| 2017-09-30 | 2,654.60 | 176.69 | 564.22 | |
| 2017-06-30 | 2,507.64 | 304.16 | 550.72 | |
| 2017-03-31 | 2,348.15 | 359.84 | 523.65 | |
| 2016-12-31 | 2,201.74 | 416.07 | 500.06 | |
| 2016-09-30 | 2,184.41 | 400.49 | 507.71 | |
| 2016-06-30 | 2,089.69 | 369.77 | 498.28 | |
| 2016-03-31 | 2,203.23 | 351.46 | 528.15 | |
| 2015-12-31 | 2,193.71 | 309.53 | 528.80 | |
| 2015-09-30 | 2,224.32 | 329.56 | 520.68 | |
| 2015-06-30 | 2,283.91 | 354.91 | 518.32 | |
| 2015-03-31 | 2,113.15 | 328.21 | 475.74 | |
| 2014-12-31 | 2,170.07 | 336.87 | 484.46 | |
| 2014-09-30 | 2,250.36 | 337.14 | 485.84 | |
| 2014-06-30 | 2,363.89 | 341.23 | 492.84 | |
| 2014-03-31 | 2,288.58 | 364.41 | 470.91 | |
| 2013-12-31 | 2,259.63 | 393.87 | 458.71 | |
| 2013-09-30 | 2,196.42 | 387.70 | 424.45 | |
| 2013-06-30 | 2,050.62 | 366.55 | 376.05 | |
| 2013-03-31 | 2,015.17 | 341.05 | 366.49 | |
| 2012-12-31 | 2,121.05 | 338.12 | 382.42 | |
| 2012-09-30 | 2,034.32 | 355.74 | 367.56 | |
| 2012-06-30 | 1,911.37 | 365.89 | 346.14 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Hiscox has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Hiscox used its assets more efficiently than the GB Insurance industry average last year based on Return on Assets.
- Hiscox's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Hiscox's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Hiscox has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
HSX Health
How is Hiscox's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Hiscox's finances.
The net worth of a company is the difference between its assets and liabilities.
- Hiscox's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Hiscox's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Hiscox Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 2,317.12 | 699.95 | 2,795.68 |
| 2018-09-30 | 2,317.12 | 699.95 | 2,795.68 |
| 2018-06-30 | 2,419.70 | 735.24 | 1,295.48 |
| 2018-03-31 | 2,419.70 | 735.24 | 1,295.48 |
| 2017-12-31 | 2,368.38 | 390.95 | 2,251.79 |
| 2017-09-30 | 2,352.22 | 388.27 | 2,434.96 |
| 2017-06-30 | 2,414.14 | 369.13 | 765.70 |
| 2017-03-31 | 2,327.80 | 355.93 | 738.31 |
| 2016-12-31 | 2,245.16 | 340.68 | 2,158.59 |
| 2016-09-30 | 2,367.82 | 359.29 | 2,276.52 |
| 2016-06-30 | 2,217.12 | 377.72 | 594.54 |
| 2016-03-31 | 2,401.99 | 409.21 | 644.11 |
| 2015-12-31 | 2,254.58 | 406.52 | 2,421.97 |
| 2015-09-30 | 2,313.43 | 417.13 | 2,485.19 |
| 2015-06-30 | 2,224.69 | 0.00 | 1,173.72 |
| 2015-03-31 | 2,101.71 | 0.00 | 1,108.84 |
| 2014-12-31 | 2,266.35 | 0.00 | 2,445.07 |
| 2014-09-30 | 2,359.00 | 0.00 | 2,545.02 |
| 2014-06-30 | 2,279.06 | 0.00 | 774.32 |
| 2014-03-31 | 2,220.94 | 0.00 | 754.58 |
| 2013-12-31 | 2,334.90 | 0.00 | 5,217.24 |
| 2013-09-30 | 2,281.97 | 0.00 | 5,098.98 |
| 2013-06-30 | 2,112.23 | 0.00 | 846.49 |
| 2013-03-31 | 2,110.31 | 0.00 | 845.72 |
| 2012-12-31 | 2,219.21 | 0.00 | 1,068.93 |
| 2012-09-30 | 2,201.32 | 0.00 | 1,060.32 |
| 2012-06-30 | 2,089.55 | 0.00 | 1,066.95 |
- Hiscox's level of debt (30.2%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (0% vs 30.2% today).
- Debt is well covered by operating cash flow (42.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
Financial health checks
We assess Hiscox's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Hiscox has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
HSX Dividends
What is Hiscox's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
£2,000 of
Hiscox
shares you are expected to receive
£39
in your first year as a dividend.
Dividend Amount
- Hiscox's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
- Hiscox's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment
Purchase Hiscox before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield | Market Cap Weighted Average of 21 Stocks | 4.5% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 Stocks | 4.2% |
| United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield | 10th Percentile | 1% |
| United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield | 25th Percentile | 2% |
| United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield | 75th Percentile | 5.2% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.63 | 1.00 |
| 2022-12-31 | 0.57 | 1.00 |
| 2021-12-31 | 0.53 | 8.00 |
| 2020-12-31 | 0.49 | 11.00 |
| 2019-12-31 | 0.47 | 9.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-25 | 0.419 | 1.998 |
| 2018-03-13 | 0.363 | 1.859 |
| 2018-02-26 | 0.398 | 2.032 |
| 2017-03-14 | 0.334 | 2.126 |
| 2017-02-27 | 0.334 | 2.536 |
| 2016-03-15 | 0.482 | 3.934 |
| 2016-02-29 | 0.557 | 4.165 |
| 2015-03-17 | 1.064 | 8.305 |
| 2015-03-02 | 1.130 | 8.387 |
| 2014-07-28 | 0.981 | 8.384 |
| 2014-03-11 | 1.200 | 9.134 |
| 2014-02-24 | 1.210 | 8.770 |
| 2013-07-29 | 0.368 | 2.894 |
| 2013-02-25 | 0.383 | 3.519 |
| 2012-02-27 | 0.368 | 3.849 |
| 2011-02-28 | 0.362 | 4.269 |
| 2010-03-01 | 0.309 | 4.222 |
| 2009-08-25 | 0.279 | 3.941 |
| 2009-04-23 | 0.267 | 4.089 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Hiscox's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Hiscox afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Hiscox has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
HSX Management
CEO
| COMPENSATION | $1,862,710 |
| AGE | 57 |
| TENURE AS CEO | 19.3 years |
CEO Bio
Mr. Bronislaw Edmund Masojada, also known as Bronek, serves at Augmentum Capital LLP. He serves as the Chief Executive Officer of Hiscox, Ltd since 2000 and has been its Executive Director since December 12, 2006. Mr. Masojada serves as the Chief Executive Officer at Hiscox plc. He joined Hiscox Group in 1993. From 1989 to 1993, he was employed by McKinsey and Co. He served as Chairman of the Lloyd’s Tercentenary Research Foundation from 2008 to 2014. He served as Chairman of the Lloyd’s Underwriting Agents Association from 1998 to 2001. He served as Deputy Chairman of Lloyd’s from 2001 to 2007. He serves as a Director at Hiscox plc. Mr. Masojada serves as Director of Hiscox Holdings Ltd. and Hiscox Syndicates Limited. He served as a Non Executive Director of Ins-sure Holdings Limited from 2002 to 2006. He served as Member of Council at Society of Lloyd's. He was the President of The Insurance Institute of London. He was the Master of The Worshipful Company of Insurers. He is a member of the Board of the Association of British Insurers. Mr. Masojada holds a M.Phil. in Management Studies from University of Oxford from 1985 to 1987 and Bachelors of Science in Civil Engineering from The University of KwaZulu-Natal from 1979 to 1982
CEO Compensation
- Bronek's compensation has been consistent with company performance over the past year.
- Bronek's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the Hiscox management team in years:
- The average tenure for the Hiscox management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Bronek Masojada
CEO & Executive Director
$2M
57
19.3 yrs
Aki Hussain
CFO & Executive Director
$1M
45
3 yrs
Richard Watson
Chief Underwriting Officer & Executive Director
$1M
54
13.5 yrs
Ian Penny
Chief Information Officer
2 yrs
Kylie O'Connor
Head of Group Communications
Jason Jones
Group Compliance & Audit Director
Marc Wetherhill
Group Company Secretary & General Counsel
Steve Langan
CEO of USA & Chief Marketing Officer
57
Amanda Brown
Group Human Resources Director
49
13.3 yrs
Jeremy Pinchin
Chairman of Hiscox Special Risks & Chairman of Hiscox Pension Trustees
63
0.2 yrs
Board of Directors Tenure
Average tenure and age of the Hiscox board of directors in years:
- The tenure for the Hiscox board of directors is about average.
Board of Directors
Rob Childs
Non-Executive Chairman of the Board
$301K
67
6.2 yrs
Bronek Masojada
CEO & Executive Director
$2M
57
12.5 yrs
Aki Hussain
CFO & Executive Director
$1M
45
2.6 yrs
Richard Watson
Chief Underwriting Officer & Executive Director
$1M
54
5.9 yrs
Caroline Foulger
Independent Non Executive Director
$188K
57
6.3 yrs
Lynn Pike
Independent Non Executive Director
$98K
61
3.9 yrs
Colin Keogh
Independent Non Executive Director
$126K
64
3.4 yrs
Bob McMillan
Independent Non Executive Director
$156K
65
8.3 yrs
Anne MacDonald
Independent Non Executive Director
$92K
62
3.9 yrs
Costas Miranthis
Independent Non-Executive Director
$112K
54
1.4 yrs
Who owns this company?
Recent Insider Trading
- Hiscox insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11. Apr 19 | Sell | Steve Langan | Individual | 08. Apr 19 | 08. Apr 19 | -32,121 | £15.52 | £-498,370 | ||
| 05. Apr 19 | Buy | Hamayou Hussain | Individual | 03. Apr 19 | 03. Apr 19 | 3,000 | £15.71 | £47,130 | ||
| 01. Apr 19 | Buy | Colin Keogh | Individual | 29. Mar 19 | 29. Mar 19 | 901 | £15.58 | £14,033 | ||
| 01. Apr 19 | Buy | Anne MacDonald | Individual | 29. Mar 19 | 29. Mar 19 | 1,502 | £15.58 | £23,394 | ||
| 08. Mar 19 | Sell | Robert Childs | Individual | 07. Mar 19 | 07. Mar 19 | -800 | £16.30 | £-13,040 | ||
| 27. Feb 19 | Buy | Thomas Hürlimann | Individual | 27. Feb 19 | 27. Feb 19 | 5,000 | £15.80 | £78,979 | ||
| 27. Feb 19 | Sell | Richard Watson | Individual | 25. Feb 19 | 25. Feb 19 | -20,000 | £16.41 | £-328,102 | ||
| 14. Dec 18 | Buy | Colin Keogh | Individual | 14. Dec 18 | 14. Dec 18 | 914 | £16.02 | £14,638 | ||
| 14. Dec 18 | Sell | Robert Childs | Individual | 13. Dec 18 | 13. Dec 18 | -25,000 | £16.35 | £-408,775 | ||
| 14. Dec 18 | Buy | Constantinos Miranthis | Individual | 12. Dec 18 | 12. Dec 18 | 4,525 | £16.53 | £74,798 | ||
| 14. Dec 18 | Buy | Anne MacDonald | Individual | 14. Dec 18 | 14. Dec 18 | 1,525 | £16.02 | £24,424 | ||
| 02. Oct 18 | Buy | Colin Keogh | Individual | 28. Sep 18 | 28. Sep 18 | 854 | £16.50 | £14,094 | ||
| 02. Oct 18 | Buy | Anne MacDonald | Individual | 28. Sep 18 | 28. Sep 18 | 1,424 | £16.50 | £23,501 | ||
| 05. Sep 18 | Sell | Bronislaw Masojada | Individual | 31. Aug 18 | 31. Aug 18 | -50,000 | £16.95 | £-847,500 | ||
| 19. Jun 18 | Buy | Steve Langan | Individual | 14. Jun 18 | 14. Jun 18 | 1,362 | £14.96 | £20,376 | ||
| 14. Jun 18 | Buy | Anne MacDonald | Individual | 14. Jun 18 | 14. Jun 18 | 1,518 | £15.04 | £22,825 | ||
| 11. May 18 | Buy | Thomas Hürlimann | Individual | 09. May 18 | 09. May 18 | 3,660 | £15.07 | £55,156 | ||
Management checks
We assess Hiscox's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Hiscox has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
HSX News
Simply Wall St News
Does The Data Make Hiscox Ltd (LON:HSX) An Attractive Investment?
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Hiscox Ltd (LON:HSX) due to its excellent fundamentals in more than one area.
Simply Wall St - – Full articleIs Hiscox Ltd's (LON:HSX) ROE Of 5.5% Concerning?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Hiscox has a return on equity of 5.5% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Be Tempted To Sell Hiscox Ltd (LON:HSX) Because Of Its P/E Ratio?
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 47.36 = $21.38 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.45
Simply Wall St - – Full articleDid Hiscox's Share Price Deserve to Gain 96%?
One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price. … Hiscox's earnings per share are down 20% per year, despite strong share price performance over five years. … In that case, the company may be sacrificing current earnings per share to drive growth
Simply Wall St - – Full articleConsider This Before Buying Hiscox Ltd (LON:HSX) For The 1.9% Dividend
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, Hiscox Ltd (LON:HSX) has been paying a dividend to shareholders. … Let's take a look at Hiscox in more detail.
Simply Wall St - – Full articleShould We Be Cautious About Hiscox Ltd's (LON:HSX) ROE Of 2.7%?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every £1 worth of shareholders' equity, it generated £0.027 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHave Insiders Been Selling Hiscox Ltd (LON:HSX) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Hiscox Ltd (LON:HSX). … Hiscox Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Hiscox shares, than buying.
Simply Wall St - – Full articleConsider This Before Buying Hiscox Ltd (LON:HSX) For The 1.8% Dividend
Historically, Hiscox Ltd (LON:HSX) has paid a dividend to shareholders. … Does Hiscox tick all the boxes of a great dividend stock? … 5 questions to ask before buying a dividend stock
Simply Wall St - – Full articleIs Hiscox Ltd (LON:HSX) Expensive For A Reason? A Look At The Intrinsic Value
Pricing insurance stocks such as HSX is particularly challenging. … Given that these companies adhere to a different set of rules relative to other companies, their cash flows should also be valued differently. … For example, insurance firms don’t have gross profits as such, but gross written premiums play a huge part in forecasting cash flows.
Simply Wall St - – Full articleIs It Too Late To Buy Hiscox Ltd (LON:HSX)?
Hiscox Ltd (LON:HSX), a insurance company based in Bermuda,. … saw its share price hover around a small range of £14.32 to £15.32 over the last few weeks? … Let’s take a look at Hiscox’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleHSX Company Info
Description
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. The company also offers property insurance; marine and energy insurance; casualty insurance; specialty and international employees and officers’ insurance; kidnap and ransom insurance; auto physical damage insurance; and other specialty insurance, such as aviation, contingency, terrorism, personal accident, and product recall. In addition, it provides healthcare and casualty reinsurance services, as well as investment services. The company operates in Bermuda, the United Kingdom, Ireland, the United States, Guernsey, France, Germany, Belgium, the Netherlands, Spain, Portugal, Singapore, and Thailand. Hiscox Ltd is headquartered in Hamilton, Bermuda.
Details
| Name: | Hiscox Ltd |
| HSX | |
| Exchange: | LSE |
| Founded: | |
| £4,743,349,077 | |
| 287,650,035 | |
| Website: | http://www.hiscoxgroup.com |
| Address: |
Hiscox Ltd Wessex House, 4th Floor, Hamilton, HM 12, Bermuda |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | HSX | Ordinary Shares | London Stock Exchange | GB | GBP | 17. Nov 1994 | |
| OTCPK | HCXL.F | Ordinary Shares | Pink Sheets LLC | US | USD | 17. Nov 1994 | |
| DB | H2X3 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 17. Nov 1994 | |
| BATS-CHIXE | HSXL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 17. Nov 1994 |
Number of employees
Current staff
Industry
| Property and Casualty Insurance | |
| Insurance |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/22 21:07 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/20 |
| Last earnings filing: | 2019/03/08 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
