Hippo Holdings Inc. (NYSE:HIPO) Receives $38.33 Average Target Price from Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.3333.

A number of equities research analysts recently weighed in on the company. B. Riley Financial started coverage on Hippo in a report on Friday, April 17th. They issued a “buy” rating and a $38.00 price target on the stock. Texas Capital upgraded Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Zacks Research upgraded Hippo to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods increased their target price on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Thursday, May 7th.

Hippo Stock Performance

HIPO opened at $25.83 on Wednesday. The stock has a market cap of $672.61 million, a P/E ratio of 5.98 and a beta of 1.51. 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 stock’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $28.21. Hippo has a 1-year low of $24.08 and a 1-year high of $38.98.

Hippo (NYSE:HIPO) last released its quarterly 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 for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, equities analysts anticipate that Hippo will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hippo news, 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 sale, the chief executive officer owned 65,673 shares in the company, valued at approximately $1,714,065.30. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 590,433 shares in the company, valued at approximately $14,760,825. This trade represents a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 18,667 shares of company stock worth $486,459. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hippo during the 4th quarter worth $26,000. Altshuler Shaham Ltd lifted its stake in shares of Hippo by 270.4% during the 4th quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 730 shares during the period. Quantbot Technologies LP purchased a new position in shares of Hippo in the 2nd quarter worth $33,000. AlphaQuest LLC raised its position in shares of Hippo by 109.5% in the 3rd quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock worth $45,000 after buying an additional 654 shares during the period. Finally, Torren Management LLC purchased a new position in shares of Hippo in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Hippo

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.