Hippo (NYSE:HIPO) Rating Increased to Strong-Buy at Texas Capital

Hippo (NYSE:HIPO) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. B. Riley Financial assumed coverage on Hippo in a report on Friday, April 17th. They issued a “buy” rating and a $38.00 price target for the company. Weiss Ratings raised Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods raised their price objective on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised Hippo to a “hold” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Hippo Stock Up 3.9%

Hippo stock opened at $25.72 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $26.60 and a two-hundred day moving average of $28.41. The stock has a market capitalization of $669.72 million, a price-to-earnings ratio of 5.95 and a beta of 1.51. Hippo has a twelve month low of $24.08 and a twelve month high of $38.98.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.67 EPS for the quarter. The business had revenue of $120.40 million during the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, research analysts expect that Hippo will post 1.03 earnings per share for the current year.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Torben Ostergaard sold 3,667 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $95,708.70. Following the completion of the transaction, the chief executive officer owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $27.10, for a total value of $135,500.00. Following the transaction, the chief executive officer directly owned 604,212 shares of the company’s stock, valued at $16,374,145.20. The trade was a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,667 shares of company stock valued at $361,459 in the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hippo

Several hedge funds have recently made changes to their positions in HIPO. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hippo during the fourth quarter worth $26,000. Altshuler Shaham Ltd boosted its holdings in shares of Hippo by 270.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 730 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Hippo during the second quarter worth $33,000. AlphaQuest LLC boosted its holdings in shares of Hippo by 109.5% during the third quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock worth $45,000 after purchasing an additional 654 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Hippo during the fourth quarter worth $55,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.