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

Shares of Hippo Holdings Inc. (NYSE:HIPO) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $38.3333.

A number of brokerages have commented on HIPO. 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. B. Riley Financial began 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. Zacks Research upgraded Hippo to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th.

Hippo Stock Up 0.6%

Hippo stock opened at $25.97 on Friday. The firm has a market cap of $27.04 million, a PE ratio of 6.01 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $26.68 and its two-hundred day moving average price is $29.31. Hippo has a twelve month low of $21.80 and a twelve month high of $38.98.

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

Insider Buying and Selling at Hippo

In other news, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $27.10, for a total transaction of $135,500.00. Following the transaction, the chief executive officer owned 604,212 shares in the company, valued at $16,374,145.20. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Torben Ostergaard sold 3,667 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $95,708.70. Following the transaction, the chief executive officer owned 65,673 shares in the company, valued at approximately $1,714,065.30. This trade represents a 5.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,267 shares of company stock worth $509,023. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HIPO. Stoic Point Capital Management LLC acquired a new position in shares of Hippo during the 4th quarter worth $7,490,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo during the 3rd quarter worth $5,842,000. Geode Capital Management LLC boosted its holdings in shares of Hippo by 24.1% during the 4th quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock worth $16,760,000 after buying an additional 108,359 shares during the period. Sei Investments Co. bought a new stake in shares of Hippo during the 2nd quarter worth $2,810,000. Finally, Nuveen LLC boosted its holdings in shares of Hippo by 238.6% during the 4th quarter. Nuveen LLC now owns 140,527 shares of the company’s stock worth $4,227,000 after buying an additional 99,020 shares during the period. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Company Profile

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.