Hippo (NYSE:HIPO) Price Target Raised to $33.00

Hippo (NYSE:HIPO) had its price objective increased by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other research analysts have also recently issued reports about the stock. Texas Capital raised shares of Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. B. Riley Financial began coverage on Hippo in a research report on Friday, April 17th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Weiss Ratings raised Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Hippo Stock Down 0.2%

NYSE HIPO opened at $28.84 on Wednesday. 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 firm has a market cap of $30.00 million, a PE ratio of 6.68 and a beta of 1.49. The business’s fifty day simple moving average is $26.52 and its 200-day simple moving average is $27.78. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98.

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

Insider Transactions at Hippo

In related news, CEO Torben Ostergaard sold 3,667 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were 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 in the company, valued at $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 available at this link. Also, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $27.10, for a total transaction of $135,500.00. Following the sale, the chief executive officer owned 604,212 shares of the company’s stock, valued at approximately $16,374,145.20. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,667 shares of company stock valued at $356,209 in the last quarter. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boothbay Fund Management LLC raised its stake in shares of Hippo by 500.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company’s stock worth $2,198,000 after buying an additional 50,677 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Hippo in the 3rd quarter valued at about $963,000. Gator Capital Management LLC purchased a new position in Hippo during the 3rd quarter valued at about $239,000. Caitong International Asset Management Co. Ltd purchased a new position in Hippo during the 4th quarter valued at about $26,000. Finally, State of Wyoming raised its position in Hippo by 164.4% during the fourth quarter. State of Wyoming now owns 11,061 shares of the company’s stock worth $333,000 after acquiring an additional 6,877 shares during the last quarter. 43.01% of the stock is owned by institutional investors and hedge funds.

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.