Hippo (NYSE:HIPO) Given New $33.00 Price Target at Keefe, Bruyette & Woods

Hippo (NYSE:HIPO) had its target price hoisted by equities researchers at Keefe, Bruyette & Woods from $32.00 to $33.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 16.59% from the company’s current price.

Several other brokerages have also commented on HIPO. B. Riley Financial began coverage on Hippo in a research note on Friday, April 17th. They issued a “buy” rating and a $38.00 price target on the stock. Texas Capital upgraded Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Hippo Price Performance

NYSE:HIPO traded down $0.12 during mid-day trading on Wednesday, hitting $28.30. The company’s stock had a trading volume of 10,320 shares, compared to its average volume of 132,562. The company has a market capitalization of $29.44 million, a price-to-earnings ratio of 6.55 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $38.98. The stock has a fifty day moving average of $26.50 and a 200-day moving average of $27.81.

Hippo (NYSE:HIPO) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.67 earnings per share for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%.The company had revenue of $120.40 million for the quarter. As a group, equities analysts forecast that Hippo will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total value of $95,708.70. Following the completion of the transaction, the chief executive officer owned 65,673 shares in the company, valued at approximately $1,714,065.30. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction 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 $16,374,145.20. The trade was a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 18,667 shares of company stock valued at $486,459. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several large investors have recently made changes to their positions in HIPO. Vanguard Group Inc. increased its position in Hippo by 5.3% in the third quarter. Vanguard Group Inc. now owns 1,108,547 shares of the company’s stock worth $40,085,000 after purchasing an additional 55,394 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 108,359 shares during the last quarter. Westerly Capital Management LLC boosted its stake in shares of 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 purchasing an additional 82,000 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $10,291,000 after buying an additional 29,993 shares during the period. Finally, Stoic Point Capital Management LLC raised its stake in shares of Hippo by 0.8% during the first quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds 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.