Hippo Holdings Inc. (NYSE:HIPO) Receives $40.50 Consensus PT from Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $40.50.

HIPO has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Zacks Research upgraded Hippo from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Texas Capital raised Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. B. Riley Financial restated 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th.

Hippo Price Performance

HIPO stock opened at $33.13 on Monday. 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 has a 52 week low of $24.08 and a 52 week high of $38.98. The firm’s fifty day moving average is $30.28 and its 200 day moving average is $27.96. The firm has a market cap of $874.30 million, a P/E ratio of 7.12 and a beta of 1.47.

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 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 business had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. Research analysts predict that Hippo will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In other Hippo news, CEO Torben Ostergaard sold 1,169 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $33.00, for a total value of $38,577.00. Following the transaction, the chief executive officer owned 61,824 shares in the company, valued at approximately $2,040,192. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $32.00, for a total transaction of $160,000.00. Following the transaction, the chief executive officer directly owned 580,433 shares of the company’s stock, valued at approximately $18,573,856. This trade represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,838 shares of company stock valued at $517,933 in the last quarter. Insiders own 4.48% of the company’s stock.

Institutional Investors Weigh In On Hippo

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in Hippo during the 4th quarter valued at about $26,000. Altshuler Shaham Ltd grew its holdings in shares of Hippo by 270.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 730 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Hippo during the second quarter valued at approximately $33,000. Torren Management LLC bought a new stake in shares of Hippo during the fourth quarter valued at approximately $55,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Hippo in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.