Hippo (NYSE:HIPO) Rating Increased to Strong-Buy at Texas Capital

Hippo (NYSE:HIPO) was upgraded by analysts at Texas Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on HIPO. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Zacks Research upgraded Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods lifted their target price on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. Finally, B. Riley Financial started coverage on Hippo in a research report on Friday, April 17th. They issued a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Hippo Stock Performance

Shares of Hippo stock opened at $25.72 on Tuesday. Hippo has a one year low of $24.08 and a one year high of $38.98. The company has a market cap of $669.72 million, a price-to-earnings ratio of 5.95 and a beta of 1.51. 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 business’s 50 day moving average price is $26.60 and its 200 day moving average price is $28.41.

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

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 3,667 shares of Hippo 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 directly owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction on Monday, May 11th. The shares were sold at an average price of $27.10, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,667 shares of company stock valued at $361,459 over the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of institutional investors have recently modified their holdings of the company. Stoic Point Capital Management LLC grew its stake in shares of Hippo by 0.8% in the first quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock valued at $6,544,000 after buying an additional 2,100 shares in the last quarter. Quantinno Capital Management LP grew its stake in Hippo by 118.7% during the 1st quarter. Quantinno Capital Management LP now owns 17,529 shares of the company’s stock worth $457,000 after purchasing an additional 9,515 shares in the last quarter. Sei Investments Co. grew its stake in Hippo by 25.4% during the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after purchasing an additional 32,728 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Hippo by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock worth $10,291,000 after purchasing an additional 29,993 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Hippo during the 1st quarter worth $253,000. 43.01% of the stock is owned by institutional investors and hedge funds.

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.