Hippo (NYSE:HIPO) Now Covered by Analysts at B. Riley Financial

Investment analysts at B. Riley Financial initiated coverage on shares of Hippo (NYSE:HIPO) in a research note issued to investors on Friday. The firm set a “buy” rating and a $38.00 price target on the stock. B. Riley Financial’s target price would suggest a potential upside of 34.39% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research upgraded shares of Hippo to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Keefe, Bruyette & Woods reduced their price target on Hippo from $33.00 to $30.00 and set a “market perform” rating for the company in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Hippo Stock Up 2.2%

Shares of NYSE HIPO opened at $28.28 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50 day moving average price of $26.94 and a 200 day moving average price of $30.66. The stock has a market cap of $734.33 million, a P/E ratio of 13.02 and a beta of 1.61. Hippo has a 52-week low of $19.92 and a 52-week high of $38.98.

Insider Activity

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $26.05, for a total transaction of $130,250.00. Following the completion of the sale, the chief executive officer directly owned 610,650 shares in the company, valued at $15,907,432.50. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Torben Ostergaard sold 6,105 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total value of $174,419.85. Following the completion of the transaction, the chief executive officer directly owned 46,694 shares in the company, valued at $1,334,047.58. The trade was a 11.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,705 shares of company stock worth $597,934 over the last three months. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds have recently bought and sold shares of HIPO. Caitong International Asset Management Co. Ltd bought a new position in shares of Hippo during the fourth quarter worth approximately $26,000. Altshuler Shaham Ltd lifted its position in shares of Hippo by 270.4% during the 4th quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 730 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Hippo in the second quarter worth about $33,000. AlphaQuest LLC boosted its position in Hippo by 109.5% in the third quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock valued at $45,000 after buying an additional 654 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Hippo during the 4th quarter worth $55,000. 43.01% of the stock is owned by institutional investors.

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.