Brokerages Set Hippo Holdings Inc. (NYSE:HIPO) PT at $38.33

Hippo Holdings Inc. (NYSE:HIPO) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.3333.

HIPO has been the topic of several research reports. Texas Capital upgraded Hippo to a “strong-buy” rating in a research note on Tuesday. Zacks Research upgraded Hippo to a “hold” rating in a research note on Tuesday, March 3rd. B. Riley Financial initiated coverage on Hippo in a research note on Friday, April 17th. They issued a “buy” rating and a $38.00 target price on the stock. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their target price on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th.

Hippo Stock Performance

Shares of HIPO opened at $25.52 on Wednesday. The firm has a market cap of $664.41 million, a PE ratio of 5.91 and a beta of 1.51. The stock’s fifty day moving average price is $26.58 and its two-hundred day moving average price is $28.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.99 and a quick ratio of 0.99. Hippo has a 1 year low of $24.08 and a 1 year high of $38.98.

Hippo (NYSE:HIPO) last issued its earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $120.40 million for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. On average, equities research analysts forecast that Hippo will post 1.03 EPS for the current year.

Insider Buying and Selling at Hippo

In other news, CEO Richard Mccathron sold 5,000 shares of Hippo 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 directly owned 604,212 shares in the company, valued at approximately $16,374,145.20. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.10, for a total value 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 18,667 shares of company stock valued at $486,459. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hippo

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Hippo by 149.6% in the third quarter. Principal Financial Group Inc. now owns 70,791 shares of the company’s stock valued at $2,560,000 after purchasing an additional 42,427 shares in the last quarter. Boothbay Fund Management LLC grew its position in shares of Hippo by 500.9% in the third quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company’s stock valued at $2,198,000 after purchasing an additional 50,677 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Hippo in the third quarter valued at $963,000. Gator Capital Management LLC purchased a new position in shares of Hippo in the third quarter valued at $239,000. Finally, AlphaQuest LLC grew its position in shares of Hippo by 109.5% in the third quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock valued at $45,000 after purchasing an additional 654 shares in the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

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.