Hippo (NYSE:HIPO) Trading Up 1% After Analyst Upgrade

Hippo Holdings Inc. (NYSE:HIPO)’s stock price rose 1% during mid-day trading on Tuesday after Texas Capital upgraded the stock to a strong-buy rating. The company traded as high as $25.39 and last traded at $24.7760. Approximately 102,260 shares changed hands during trading, a decline of 12% from the average daily volume of 116,736 shares. The stock had previously closed at $24.54.

Several other analysts have also recently weighed in on the company. Zacks Research raised Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings raised Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods lifted their price objective on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. Finally, B. Riley Financial initiated coverage on Hippo in a research report on Friday, April 17th. They set a “buy” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.33.

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer directly owned 590,433 shares of the company’s stock, valued at approximately $14,760,825. The trade was a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.10, for a total transaction of $95,708.70. Following the transaction, the chief executive officer owned 65,673 shares of the company’s stock, valued at $1,714,065.30. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,667 shares of company stock worth $486,459. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several large investors have recently made changes to their positions in HIPO. Stoic Point Capital Management LLC purchased a new position in shares of Hippo during the fourth quarter valued at approximately $7,490,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hippo during the third quarter valued at approximately $5,842,000. Geode Capital Management LLC lifted its holdings in shares of Hippo by 24.1% during the fourth quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock valued at $16,760,000 after purchasing an additional 108,359 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Hippo during the second quarter valued at approximately $2,810,000. Finally, Nuveen LLC lifted its holdings in shares of Hippo by 238.6% during the fourth quarter. Nuveen LLC now owns 140,527 shares of the company’s stock valued at $4,227,000 after purchasing an additional 99,020 shares during the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Stock Down 1.2%

The company’s fifty day moving average price is $26.58 and its 200-day moving average price is $28.37. The stock has a market capitalization of $661.39 million, a PE ratio of 5.88 and a beta of 1.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.11.

Hippo (NYSE:HIPO) last released its earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share (EPS) for the quarter. Hippo had a net margin of 23.45% and a return on equity of 12.17%. The firm had revenue of $120.40 million during the quarter. Analysts forecast that Hippo Holdings Inc. will post 1.03 earnings per share for the current year.

Hippo Company Profile

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.