Hippo Holdings Inc. (NYSE:HIPO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Hippo Holdings Inc. (NYSE:HIPO) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.6667.

HIPO has been the topic of a number of recent research reports. B. Riley Financial initiated coverage on Hippo in a research note on Friday, April 17th. They set a “buy” rating and a $38.00 price objective on the stock. Texas Capital upgraded Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods lifted their price target on Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th.

Insider Activity at Hippo

In related news, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $27.10, for a total transaction of $135,500.00. Following the completion of the sale, the chief executive officer directly owned 604,212 shares in the company, valued at $16,374,145.20. This represents a 0.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.10, for a total transaction of $95,708.70. Following the sale, the chief executive officer owned 65,673 shares of the company’s stock, valued at $1,714,065.30. This represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,667 shares of company stock worth $498,859 in the last 90 days. Company insiders own 4.48% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds have recently modified their holdings of HIPO. Stoic Point Capital Management LLC bought a new position in shares of Hippo during the fourth quarter valued at about $7,490,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo in the third quarter worth about $5,842,000. Geode Capital Management LLC grew its stake in shares of Hippo by 24.1% in the fourth quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock worth $16,760,000 after purchasing an additional 108,359 shares during the last quarter. Sei Investments Co. purchased a new position in Hippo during the 2nd quarter valued at about $2,810,000. Finally, Nuveen LLC increased its holdings in Hippo by 238.6% during the 4th quarter. Nuveen LLC now owns 140,527 shares of the company’s stock valued at $4,227,000 after purchasing an additional 99,020 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Trading Down 1.0%

Shares of HIPO opened at $29.99 on Thursday. The firm has a market cap of $780.99 million, a price-to-earnings ratio of 6.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 0.99. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $38.98. The firm has a 50 day moving average price of $27.08 and a 200-day moving average price of $27.58.

Hippo (NYSE:HIPO) last released its earnings results on Wednesday, July 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.20 by $0.59. The company had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. Hippo had a net margin of 23.45% and a return on equity of 12.17%. As a group, equities research analysts forecast that Hippo will post 0.95 earnings per share for the current year.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.