Hippo Holdings Inc. (NYSE:HIPO) Receives Consensus Rating of “Buy” from Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $40.50.

Several research analysts have commented on the company. Zacks Research upgraded Hippo from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Texas Capital raised shares of Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their price target on shares of Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, B. Riley Financial reissued a “buy” rating and set a $41.50 price objective (up from $38.00) on shares of Hippo in a report on Monday, August 3rd.

Insider Buying and Selling

In related news, CEO Torben Ostergaard sold 1,169 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $33.00, for a total transaction of $38,577.00. Following the sale, the chief executive officer owned 61,824 shares of the company’s stock, valued at $2,040,192. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $32.23, for a total value of $161,150.00. Following the completion of the transaction, the chief executive officer owned 567,132 shares in the company, valued at $18,278,664.36. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,838 shares of company stock worth $554,083 in the last three months. 4.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

A number of hedge funds and other institutional investors have recently bought and sold shares of HIPO. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hippo during the fourth quarter worth $26,000. Caz Investments LP raised its stake in Hippo by 534.4% in the fourth quarter. Caz Investments LP now owns 4,441 shares of the company’s stock valued at $134,000 after buying an additional 3,741 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Hippo in the second quarter worth about $178,000. State of Wyoming boosted its stake in Hippo by 22.9% in the 2nd quarter. State of Wyoming now owns 8,666 shares of the company’s stock worth $245,000 after purchasing an additional 1,612 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Hippo during the 1st quarter worth approximately $253,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Stock Up 0.0%

Shares of HIPO opened at $31.89 on Friday. The firm has a market capitalization of $841.68 million, a P/E ratio of 6.86 and a beta of 1.55. Hippo has a 12-month low of $24.08 and a 12-month high of $38.72. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $31.69 and a 200-day moving average price of $28.39.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.96. The company had revenue of $144.70 million for the quarter, compared to the consensus estimate of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. Equities research analysts expect that Hippo will post 1.5 earnings per share for the current year.

About Hippo

Hippo Holdings Inc (NYSE:HIPO) is an insurance technology company focused on homeowners insurance in the United States. The company uses digital tools, data analytics and automation to simplify the process of obtaining and managing home insurance coverage.

Hippo’s offerings are designed to protect homes and personal property against covered risks such as damage from weather events, fire and theft. Its platform also emphasizes proactive home protection, including educational resources, monitoring tools and connected-home devices intended to help homeowners identify and address potential risks before they result in costly claims.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo expanded through a technology-driven, digitally distributed insurance model.