Hippo (NYSE:HIPO) Reaches New 12-Month High – Should You Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $39.39 and last traded at $39.1940, with a volume of 44,939 shares trading hands. The stock had previously closed at $38.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research lowered Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. Finally, B. Riley Financial restated a “buy” rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.25.

Hippo Stock Performance

The stock has a fifty day simple moving average of $33.12 and a 200-day simple moving average of $29.69. The stock has a market cap of $1.01 billion, a P/E ratio of 8.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.96. The company had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. On average, equities analysts expect that Hippo Holdings Inc. will post 1.50 earnings per share for the current year.

Insider Activity at Hippo

In other Hippo news, CFO Guy Zeltser sold 1,669 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,735,041.74. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Torben Ostergaard sold 1,169 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $35.03, for a total value of $40,950.07. Following the transaction, the chief executive officer directly owned 60,655 shares of the company’s stock, valued at approximately $2,124,744.65. This trade represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,007 shares of company stock valued at $623,283. 4.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hippo during the 4th quarter worth about $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Hippo in the third quarter valued at about $31,000. Nisa Investment Advisors LLC increased its position in shares of Hippo by 306.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company’s stock valued at $120,000 after acquiring an additional 2,935 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Hippo during the second quarter worth about $178,000. Finally, State of Wyoming raised its holdings in Hippo by 22.9% during the second quarter. State of Wyoming now owns 8,666 shares of the company’s stock worth $245,000 after acquiring an additional 1,612 shares in the last quarter. Institutional investors own 43.01% of the company’s stock.

About Hippo

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo’s offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.