Hippo Holdings Inc. (NYSE:HIPO) Receives Consensus Rating of “Buy” from Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has earned an average rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $40.50.

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their target price on Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. B. Riley Financial reaffirmed a “buy” rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Zacks Research raised shares of Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a report on Tuesday, June 9th.

Insider Buying and Selling

In related news, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $28.53, for a total value of $142,650.00. Following the completion of the transaction, the chief executive officer owned 585,433 shares in the company, valued at approximately $16,702,403.49. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Zeltser sold 1,669 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total value of $51,705.62. Following the sale, the chief financial officer directly owned 120,563 shares in the company, valued at $3,735,041.74. The trade was a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 17,838 shares of company stock worth $517,933. Corporate insiders own 4.48% of the company’s stock.

Institutional Trading of Hippo

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

Hippo Price Performance

NYSE:HIPO opened at $33.18 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $875.62 million, a P/E ratio of 7.14 and a beta of 1.47. Hippo has a 12 month low of $24.08 and a 12 month high of $38.98. The business’s 50-day moving average is $29.53 and its 200 day moving average is $27.82.

Hippo (NYSE:HIPO) last released its quarterly earnings results 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 return on equity of 10.68% and a net margin of 23.92%.The business had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $137.44 million. On average, equities research analysts forecast that Hippo will post 1.5 earnings per share for the current fiscal 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.