Hippo (NYSE:HIPO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Hippo (NYSE:HIPO) from a buy rating to a hold rating in a research report report published on Saturday.

Other equities research analysts have also recently issued research reports about the company. B. Riley increased their price objective on Hippo from $35.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JMP Securities boosted their price objective on shares of Hippo from $35.00 to $40.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hippo in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Hippo from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.25.

Hippo Trading Down 1.2%

Shares of HIPO stock opened at $34.14 on Friday. The stock has a market capitalization of $854.51 million, a PE ratio of -69.68 and a beta of 1.56. Hippo has a 1-year low of $17.56 and a 1-year high of $38.98. The business has a 50-day moving average of $34.05 and a 200 day moving average of $28.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91.

Hippo (NYSE:HIPO) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.65) by $1.30. Hippo had a negative return on equity of 12.13% and a negative net margin of 2.52%.The company had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $116.00 million. As a group, sell-side analysts anticipate that Hippo will post -3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Hippo news, CFO Guy Zeltser sold 5,177 shares of Hippo stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $37.48, for a total transaction of $194,033.96. Following the completion of the transaction, the chief financial officer owned 74,861 shares in the company, valued at approximately $2,805,790.28. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 2,725 shares of Hippo stock in a transaction on Monday, September 8th. The stock was sold at an average price of $34.12, for a total value of $92,977.00. Following the completion of the sale, the chief executive officer directly owned 470,388 shares of the company’s stock, valued at approximately $16,049,638.56. The trade was a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,177 shares of company stock valued at $364,361 in the last quarter. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hippo

Several institutional investors and hedge funds have recently bought and sold shares of HIPO. GAMMA Investing LLC lifted its position in Hippo by 4,916.3% during the first quarter. GAMMA Investing LLC now owns 8,026 shares of the company’s stock valued at $2,050,000 after purchasing an additional 7,866 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of Hippo in the first quarter valued at about $304,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Hippo in the first quarter valued at about $1,427,000. Vanguard Group Inc. lifted its position in shares of Hippo by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company’s stock valued at $26,697,000 after acquiring an additional 24,253 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Hippo by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 154,130 shares of the company’s stock valued at $3,940,000 after acquiring an additional 1,466 shares in the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.