Keefe, Bruyette & Woods Raises Hippo (NYSE:HIPO) Price Target to $32.00

Hippo (NYSE:HIPO) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a report released on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 17.11% from the company’s current price.

Several other equities research analysts have also commented on the company. B. Riley Financial initiated coverage on Hippo in a research note on Friday, April 17th. They set a “buy” rating and a $38.00 price objective for the company. Zacks Research raised Hippo to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Hippo Stock Performance

HIPO opened at $27.32 on Thursday. The firm’s fifty day simple moving average is $26.89 and its two-hundred day simple moving average is $29.93. Hippo has a 52-week low of $19.92 and a 52-week high of $38.98. The company has a market cap of $709.63 million, a price-to-earnings ratio of 6.33 and a beta of 1.53. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 0.11.

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

Insider Activity at Hippo

In other Hippo news, CEO Torben Ostergaard sold 6,105 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total value of $174,419.85. Following the completion of the sale, the chief executive officer directly owned 46,694 shares in the company, valued at $1,334,047.58. This represents a 11.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $26.05, for a total value of $130,250.00. Following the completion of the sale, the chief executive officer directly owned 610,650 shares of the company’s stock, valued at $15,907,432.50. This trade represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,705 shares of company stock valued at $597,934. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

A number of hedge funds have recently modified their holdings of HIPO. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 55,394 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 108,359 shares during the period. Westerly Capital Management LLC increased its holdings in shares of Hippo by 24.3% during the 4th quarter. Westerly Capital Management LLC now owns 420,000 shares of the company’s stock worth $12,634,000 after buying an additional 82,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hippo by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock valued at $10,291,000 after buying an additional 29,993 shares during the period. Finally, Stoic Point Capital Management LLC purchased a new stake in shares of Hippo during the 4th quarter valued at approximately $7,490,000. 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.