Analysts Set Hippo Holdings Inc. (NYSE:HIPO) Target Price at $38.67

Hippo Holdings Inc. (NYSE:HIPO) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $39.8333.

A number of brokerages recently commented on HIPO. Texas Capital raised Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research report on Friday. Keefe, Bruyette & Woods upped their price objective on Hippo from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday.

Insider Activity at Hippo

In other news, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $95,708.70. Following the sale, the chief executive officer directly owned 65,673 shares in the company, valued at $1,714,065.30. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Guy Zeltser sold 1,669 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.98, for a total transaction of $51,705.62. Following the completion of the sale, the chief financial officer directly owned 120,563 shares of the company’s stock, valued at $3,735,041.74. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 20,336 shares of company stock worth $550,564. Company insiders own 4.48% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in shares of Hippo by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock valued at $414,000 after purchasing an additional 1,236 shares during the period. JPMorgan Chase & Co. raised its holdings in Hippo by 30.5% in the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock worth $5,823,000 after purchasing an additional 48,677 shares in the last quarter. American Century Companies Inc. lifted its position in Hippo by 6.3% during the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock valued at $1,213,000 after buying an additional 2,588 shares during the period. Quantbot Technologies LP purchased a new position in Hippo during the second quarter valued at $33,000. Finally, Walleye Capital LLC bought a new stake in shares of Hippo during the 2nd quarter valued at $358,000. Institutional investors own 43.01% of the company’s stock.

Hippo Trading Up 2.7%

HIPO opened at $32.31 on Thursday. Hippo has a twelve month low of $24.08 and a twelve month high of $38.98. The company has a fifty day moving average of $27.42 and a 200-day moving average of $27.60. The stock has a market cap of $33.60 million, a PE ratio of 6.95 and a beta of 1.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

Hippo (NYSE:HIPO) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The firm had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. On average, sell-side analysts predict that Hippo will post 0.95 EPS for the current year.

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.