Hippo Holdings Inc. (NYSE:HIPO) Stock Has Average Target Price of $40.50

Shares of Hippo Holdings Inc. (NYSE:HIPO) have received an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $40.50.

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

Hippo Stock Performance

Shares of HIPO opened at $30.22 on Friday. Hippo has a 1 year low of $24.08 and a 1 year high of $38.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average price is $31.88 and its two-hundred day moving average price is $28.51. The firm has a market cap of $797.51 million, a PE ratio of 6.50 and a beta of 1.55.

Hippo (NYSE:HIPO) last posted 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. Hippo had a return on equity of 10.68% and a net margin of 23.92%.The company had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. On average, equities research analysts forecast that Hippo will post 1.5 EPS for the current year.

Insider Activity at Hippo

In other Hippo news, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $32.23, for a total transaction of $161,150.00. Following the completion of the transaction, the chief executive officer owned 567,132 shares of the company’s stock, valued at $18,278,664.36. The trade was a 0.87% decrease in their position. 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 company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $33.00, for a total value of $38,577.00. Following the sale, the chief executive officer owned 61,824 shares in the company, valued at approximately $2,040,192. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 17,838 shares of company stock worth $554,083. 4.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hippo

A number of large investors have recently modified their holdings of HIPO. BlackRock Inc. increased its holdings in Hippo by 17.8% during the 2nd 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. State Street Corp lifted its stake 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 purchasing an additional 37,097 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Hippo by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock valued at $10,291,000 after purchasing an additional 29,993 shares during the period. Stoic Point Capital Management LLC boosted its holdings in Hippo by 0.8% in the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock valued at $6,544,000 after purchasing an additional 2,100 shares during the period. Finally, Sei Investments Co. grew its position in shares of Hippo by 25.4% during the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock valued at $4,207,000 after purchasing an additional 32,728 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors.

About Hippo

Hippo Holdings Inc (NYSE:HIPO) is an insurance technology company focused on homeowners insurance in the United States. The company uses digital tools, data analytics and automation to simplify the process of obtaining and managing home insurance coverage.

Hippo’s offerings are designed to protect homes and personal property against covered risks such as damage from weather events, fire and theft. Its platform also emphasizes proactive home protection, including educational resources, monitoring tools and connected-home devices intended to help homeowners identify and address potential risks before they result in costly claims.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo expanded through a technology-driven, digitally distributed insurance model.