Hippo (NYSE:HIPO) Trading 1% Higher After Analyst Upgrade

Hippo Holdings Inc. (NYSE:HIPO) rose 1% on Tuesday after Texas Capital upgraded the stock to a strong-buy rating. The company traded as high as $25.39 and last traded at $24.7760. Approximately 102,260 shares changed hands during trading, a decline of 12% from the average daily volume of 116,736 shares. The stock had previously closed at $24.54.

HIPO has been the topic of several other reports. B. Riley Financial assumed coverage on Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Hippo from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Weiss Ratings raised Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Zacks Research raised Hippo to a “hold” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 3,667 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.10, for a total value of $95,708.70. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the chief executive officer directly owned 590,433 shares in the company, valued at approximately $14,760,825. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,667 shares of company stock worth $486,459. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Hippo

Several institutional investors have recently bought and sold shares of HIPO. AQR Capital Management LLC grew its holdings in Hippo by 8.3% in the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock valued at $414,000 after purchasing an additional 1,236 shares during the period. JPMorgan Chase & Co. grew its holdings in Hippo by 30.5% in the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock valued at $5,823,000 after purchasing an additional 48,677 shares during the period. American Century Companies Inc. grew its holdings in Hippo by 6.3% in the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock valued at $1,213,000 after purchasing an additional 2,588 shares during the period. Quantbot Technologies LP acquired a new stake in Hippo in the second quarter valued at approximately $33,000. Finally, Walleye Capital LLC acquired a new stake in Hippo in the second quarter valued at approximately $358,000. 43.01% of the stock is owned by institutional investors and hedge funds.

Hippo Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day simple moving average of $26.58 and a 200 day simple moving average of $28.37. The company has a market capitalization of $661.39 million, a price-to-earnings ratio of 5.88 and a beta of 1.51.

Hippo (NYSE:HIPO) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.67 EPS for the quarter. The company 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, analysts anticipate that Hippo Holdings Inc. will post 1.03 earnings per share for the current fiscal year.

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.