Hippo (NYSE:HIPO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hippo (NYSE:HIPO) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a research note on Thursday. Zacks Research lowered Hippo from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Finally, B. Riley Financial reissued a “buy” rating and issued a $50.00 price objective (up from $41.50) on shares of Hippo in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Hippo has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Hippo Price Performance

Shares of HIPO opened at $35.81 on Friday. The stock has a market cap of $944.99 million, a P/E ratio of 29.60 and a beta of 1.55. Hippo has a 12-month low of $24.08 and a 12-month high of $39.39. 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 business’s fifty day moving average is $33.64 and its 200 day moving average is $29.48.

Insider Transactions at Hippo

In other news, CEO Torben Ostergaard sold 1,169 shares of the firm’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 transaction of $40,950.07. Following the completion of the transaction, the chief executive officer directly owned 60,655 shares of the company’s stock, valued at $2,124,744.65. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard McCathron sold 5,000 shares of the company’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $34.18, for a total value of $170,900.00. Following the sale, the chief executive officer owned 562,132 shares of the company’s stock, valued at $19,213,671.76. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 17,338 shares of company stock valued at $571,577. Corporate insiders own 4.48% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of hedge funds have recently added to or reduced their stakes in HIPO. State of Wyoming boosted its holdings in Hippo by 164.0% in the third quarter. State of Wyoming now owns 22,879 shares of the company’s stock worth $704,000 after purchasing an additional 14,213 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Hippo by 306.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company’s stock worth $120,000 after purchasing an additional 2,935 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Hippo during the 3rd quarter worth approximately $31,000. State Street Corp raised its holdings in shares of Hippo by 9.1% during the second 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 during the period. Finally, Citadel Advisors LLC boosted its stake in Hippo by 90.5% in the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company’s stock valued at $3,977,000 after buying an additional 66,863 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors.

About Hippo

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.