Hippo (NYSE:HIPO) Stock Rating Upgraded by Texas Capital

Hippo (NYSE:HIPO) was upgraded by analysts at Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

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

Hippo Trading Up 3.9%

NYSE HIPO opened at $25.72 on Tuesday. The stock has a market capitalization of $669.72 million, a price-to-earnings ratio of 5.95 and a beta of 1.51. The stock’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $28.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 0.99. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98.

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

Insider Buying and Selling

In other news, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction that occurred on 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 owned 65,673 shares in the company, valued at $1,714,065.30. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $27.10, for a total value of $135,500.00. Following the sale, the chief executive officer owned 604,212 shares in the company, valued at approximately $16,374,145.20. This represents a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,667 shares of company stock worth $361,459. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Hippo by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,108,547 shares of the company’s stock valued at $40,085,000 after acquiring an additional 55,394 shares during the period. Geode Capital Management LLC raised its stake in Hippo by 24.1% in the 4th quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock valued at $16,760,000 after acquiring an additional 108,359 shares during the period. Westerly Capital Management LLC raised its stake in Hippo by 24.3% in the 4th quarter. Westerly Capital Management LLC now owns 420,000 shares of the company’s stock valued at $12,634,000 after acquiring an additional 82,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Hippo by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock valued at $10,291,000 after acquiring an additional 29,993 shares during the period. Finally, Stoic Point Capital Management LLC raised its stake in Hippo by 0.8% in the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock valued at $6,544,000 after acquiring an additional 2,100 shares during the period. 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.