Hippo Holdings Inc. (NYSE:HIPO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Hippo Holdings Inc. (NYSE:HIPO) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $38.6667.

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

Insider Activity at Hippo

In related news, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total value of $95,708.70. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Mccathron sold 5,000 shares of the 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 completion of the transaction, the chief executive officer owned 604,212 shares of the company’s stock, valued at approximately $16,374,145.20. This trade represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,667 shares of company stock valued at $498,859 in the last three months. Corporate insiders own 4.48% of the company’s stock.

Institutional Trading of Hippo

A number of hedge funds and other institutional investors have recently modified their holdings of HIPO. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hippo in the 4th quarter worth about $26,000. Altshuler Shaham Ltd lifted its position in Hippo by 270.4% during the 4th quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 730 shares during the period. Quantbot Technologies LP bought a new stake in Hippo during the second quarter worth about $33,000. Torren Management LLC bought a new stake in Hippo during the fourth quarter worth about $55,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Hippo in the fourth quarter worth about $56,000. 43.01% of the stock is owned by hedge funds and other institutional investors.

Hippo Stock Performance

Shares of HIPO stock opened at $29.99 on Thursday. The firm has a market capitalization of $780.99 million, a price-to-earnings ratio of 6.94 and a beta of 1.49. The stock has a fifty day moving average of $27.08 and a 200 day moving average of $27.58. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.11.

Hippo (NYSE:HIPO) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.59. Hippo had a net margin of 23.45% and a return on equity of 12.17%. The business had revenue of $144.70 million for the quarter, compared to the consensus estimate of $137.44 million. As a group, research analysts expect 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.