Hippo (NYSE:HIPO) Sets New 12-Month High – Time to Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $39.39 and last traded at $39.1940, with a volume of 44,939 shares trading hands. The stock had previously closed at $38.39.

Analyst Ratings Changes

Several research firms recently commented on HIPO. Keefe, Bruyette & Woods raised their target price on Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Zacks Research lowered Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $41.50 price objective (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.25.

Hippo Stock Performance

The business’s 50-day simple moving average is $32.90 and its two-hundred day simple moving average is $29.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 8.27 and a beta of 1.55.

Hippo (NYSE:HIPO) last posted its earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.96. Hippo had a return on equity of 10.68% and a net margin of 23.92%. The firm had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $137.44 million. As a group, sell-side analysts expect that Hippo Holdings Inc. will post 1.50 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Guy Zeltser sold 1,669 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total value of $51,705.62. Following the completion of the sale, the chief financial officer directly owned 120,563 shares in the company, valued at $3,735,041.74. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Torben Ostergaard sold 1,169 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $35.03, for a total value of $40,950.07. Following the completion of the sale, the chief executive officer owned 60,655 shares of the company’s stock, valued at $2,124,744.65. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,007 shares of company stock worth $623,283. 4.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC grew its stake in Hippo by 90.5% in the 2nd quarter. Citadel Advisors LLC now owns 140,734 shares of the company’s stock valued at $3,977,000 after acquiring an additional 66,863 shares during the period. State Street Corp increased its holdings in Hippo by 9.1% in the 2nd quarter. State Street Corp now owns 443,716 shares of the company’s stock worth $12,539,000 after acquiring an additional 37,097 shares in the last quarter. Sei Investments Co. increased its holdings in Hippo by 25.4% in the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after acquiring an additional 32,728 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Hippo during the second quarter worth $2,826,000. Finally, BlackRock Inc. raised its position in Hippo by 17.8% during the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock worth $42,342,000 after acquiring an additional 226,533 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo’s offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.