Hippo Holdings Inc. (NYSE:HIPO) Given Average Rating of “Buy” by Analysts

Hippo Holdings Inc. (NYSE:HIPO) has received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.50.

Several research firms recently weighed in on HIPO. B. Riley Financial reiterated a “buy” rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Texas Capital raised Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Zacks Research upgraded Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th.

Hippo Stock Up 0.2%

Shares of HIPO stock opened at $33.18 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. Hippo has a 12 month low of $24.08 and a 12 month high of $38.98. The stock has a market cap of $875.62 million, a P/E ratio of 7.14 and a beta of 1.47. The company has a 50 day simple moving average of $29.53 and a two-hundred day simple moving average of $27.82.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.96. The business had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. On average, research analysts expect that Hippo will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 1,169 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.00, for a total transaction of $38,577.00. Following the sale, the chief executive officer directly owned 61,824 shares in the company, valued at $2,040,192. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $28.53, for a total transaction of $142,650.00. Following the transaction, the chief executive officer owned 585,433 shares in the company, valued at approximately $16,702,403.49. This trade represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,838 shares of company stock worth $517,933 over the last three months. 4.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hippo

A number of institutional investors have recently bought and sold shares of the business. Sei Investments Co. lifted 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 purchasing an additional 32,728 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Hippo during the fourth quarter valued at approximately $620,000. Russell Investments Group Ltd. raised its position in shares of Hippo by 151.8% during the second quarter. Russell Investments Group Ltd. now owns 38,830 shares of the company’s stock valued at $1,097,000 after buying an additional 23,408 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hippo by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock worth $10,291,000 after buying an additional 29,993 shares in the last quarter. Finally, Stoic Point Capital Management LLC lifted its holdings in shares of Hippo by 0.8% in the first quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other 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.