Hippo’s (HIPO) “Buy” Rating Reaffirmed at B. Riley Financial

Hippo (NYSE:HIPO)‘s stock had its “buy” rating restated by equities research analysts at B. Riley Financial in a report issued on Friday, Benzinga reports. They presently have a $50.00 target price on the stock, up from their prior target price of $41.50. B. Riley Financial‘s price objective points to a potential upside of 36.48% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Zacks Research cut Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hippo currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Hippo Trading Down 1.4%

Shares of HIPO opened at $36.63 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $39.39. The firm has a 50 day moving average price of $33.51 and a 200-day moving average price of $29.43. The firm has a market cap of $966.80 million, a price-to-earnings ratio of 8.09 and a beta of 1.55.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $137.44 million. As a group, equities research analysts forecast that Hippo will post 1.68 earnings per share for the current year.

Insider Activity

In related news, CEO Torben Ostergaard sold 1,169 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $35.03, for a total transaction of $40,950.07. Following the completion of the transaction, the chief executive officer owned 60,655 shares in the company, valued at $2,124,744.65. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $34.18, for a total transaction of $170,900.00. Following the completion of the sale, the chief executive officer owned 562,132 shares of the company’s stock, valued at $19,213,671.76. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 17,338 shares of company stock valued at $571,577. Insiders own 4.48% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently added to or reduced their stakes in HIPO. State of Alaska Department of Revenue purchased a new position in Hippo during the third quarter worth about $31,000. Nisa Investment Advisors LLC raised its holdings in Hippo by 306.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company’s stock valued at $120,000 after acquiring an additional 2,935 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Hippo during the 2nd quarter worth about $178,000. State of Wyoming raised its position in shares of Hippo by 22.9% during the 2nd quarter. State of Wyoming now owns 8,666 shares of the company’s stock worth $245,000 after acquiring an additional 1,612 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Hippo in the first quarter valued at approximately $253,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Hippo

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo’s offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.