Hippo (NYSE:HIPO) Price Target Raised to $32.00

Hippo (NYSE:HIPO) had its price objective increased by Keefe, Bruyette & Woods from $30.00 to $32.00 in a research report sent to investors on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other equities analysts have also issued reports about the company. Zacks Research raised Hippo to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings raised shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, B. Riley Financial initiated coverage on shares of Hippo in a research note on Friday, April 17th. They issued a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Hippo Stock Performance

Shares of HIPO opened at $27.32 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $26.89 and its two-hundred day simple moving average is $29.93. Hippo has a 12 month low of $19.92 and a 12 month high of $38.98. The stock has a market capitalization of $709.60 million, a P/E ratio of 6.33 and a beta of 1.53.

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

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $26.05, for a total value of $130,250.00. Following the transaction, the chief executive officer owned 610,650 shares in the company, valued at approximately $15,907,432.50. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Torben Ostergaard sold 6,105 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total value of $174,419.85. Following the completion of the sale, the chief executive officer directly owned 46,694 shares of the company’s stock, valued at $1,334,047.58. This trade represents a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,705 shares of company stock worth $597,934. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Hippo

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