Hippo Holdings Inc. (NYSE:HIPO) Stock Has Consensus Target Price of $40.50

Hippo Holdings Inc. (NYSE:HIPO) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.25.

A number of analysts have recently commented on the company. Zacks Research downgraded Hippo from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. B. Riley Financial reiterated a “buy” rating and issued a $41.50 target price (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods upped their price target on Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th.

Insider Activity

In other news, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $34.18, for a total value of $170,900.00. Following the transaction, the chief executive officer directly owned 562,132 shares of the company’s stock, valued at $19,213,671.76. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Guy Zeltser sold 1,669 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total value of $51,705.62. Following the sale, the chief financial officer owned 120,563 shares of the company’s stock, valued at $3,735,041.74. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,838 shares of company stock valued at $582,333 in the last three months. Corporate insiders own 4.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Hippo by 17.8% in the 2nd quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock valued at $42,342,000 after acquiring an additional 226,533 shares during the period. AWM Investment Company Inc. acquired a new position in shares of Hippo during the second quarter worth about $2,826,000. Citadel Advisors LLC boosted its position in shares of Hippo by 90.5% in the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company’s stock worth $3,977,000 after buying an additional 66,863 shares during the period. State Street Corp boosted its position in shares of Hippo by 9.1% in the second quarter. State Street Corp now owns 443,716 shares of the company’s stock worth $12,539,000 after buying an additional 37,097 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Hippo by 25.4% in the first quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after buying an additional 32,728 shares during the period. 43.01% of the stock is owned by institutional investors and hedge funds.

Hippo Stock Performance

Shares of HIPO stock opened at $35.28 on Tuesday. Hippo has a one year low of $24.08 and a one year high of $38.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average price of $32.60 and a 200 day moving average price of $29.24. The firm has a market capitalization of $931.17 million, a price-to-earnings ratio of 7.59 and a beta of 1.55.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The company had revenue of $144.70 million for the quarter, compared to the consensus estimate of $137.44 million. Sell-side analysts anticipate that Hippo will post 1.50 EPS for the current year.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo’s offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.