Hippo Holdings Inc. (NYSE:HIPO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Hippo Holdings Inc. (NYSE:HIPO) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $38.3333.

HIPO has been the topic of several recent analyst reports. B. Riley Financial began coverage on shares of Hippo in a research note on Friday, April 17th. They issued a “buy” rating and a $38.00 price target on the stock. Weiss Ratings raised shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Hippo from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th.

Hippo Stock Performance

Shares of Hippo stock opened at $28.95 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $26.52 and its two-hundred day moving average is $27.86. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98. The company has a market capitalization of $753.96 million, a PE ratio of 6.70 and a beta of 1.49.

Hippo (NYSE:HIPO) last released its earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share for the quarter. The business had revenue of $120.40 million during the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, analysts expect that Hippo will post 0.95 earnings per share for the current year.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction on Monday, May 11th. The stock was sold at an average price of $27.10, for a total transaction of $135,500.00. Following the completion of the sale, the chief executive officer directly owned 604,212 shares of the company’s stock, valued at $16,374,145.20. The trade was a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 65,673 shares of the company’s stock, valued at $1,714,065.30. This represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,667 shares of company stock worth $486,459 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Hippo by 8.3% during the 1st 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. boosted its stake in shares of Hippo by 30.5% during 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 in the last quarter. American Century Companies Inc. increased its holdings in Hippo by 6.3% during the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock valued at $1,213,000 after buying an additional 2,588 shares during the period. Quantbot Technologies LP purchased a new position in Hippo during the second quarter valued at approximately $33,000. Finally, Walleye Capital LLC bought a new position in Hippo in the second quarter worth approximately $358,000. 43.01% of the stock is currently owned by institutional investors.

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.