Hippo (NYSE:HIPO) Posts Earnings Results, Beats Expectations By $0.59 EPS

Hippo (NYSE:HIPO) issued its quarterly earnings data on Wednesday. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.59, FiscalAI reports. Hippo had a return on equity of 12.17% and a net margin of 23.45%.The company had revenue of $144.70 million for the quarter, compared to the consensus estimate of $137.44 million.

Hippo Stock Up 6.9%

Shares of HIPO stock traded up $2.04 during trading hours on Thursday, reaching $31.88. 340,320 shares of the company’s stock were exchanged, compared to its average volume of 134,789. Hippo has a 1 year low of $24.08 and a 1 year high of $38.98. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11. The stock has a market cap of $830.02 million, a PE ratio of 7.38 and a beta of 1.49. The stock’s fifty day moving average price is $27.08 and its two-hundred day moving average price is $27.58.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HIPO. Weiss Ratings raised shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods lifted their price target on shares of Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Texas Capital raised Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, B. Riley Financial initiated coverage on Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Insider Activity at Hippo

In related news, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.10, for a total value of $95,708.70. Following the completion of the sale, the chief executive officer directly owned 65,673 shares in the company, valued at $1,714,065.30. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $51,705.62. Following the sale, the chief financial officer directly owned 120,563 shares in the company, valued at approximately $3,735,041.74. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,336 shares of company stock valued at $550,564 in the last three months. 4.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

A number of large investors have recently made changes to their positions in HIPO. Intech Investment Management LLC lifted its position in Hippo by 14.2% during the 4th quarter. Intech Investment Management LLC now owns 9,097 shares of the company’s stock worth $274,000 after acquiring an additional 1,129 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Hippo in the fourth quarter worth about $262,000. Two Sigma Investments LP acquired a new stake in shares of Hippo during the third quarter worth about $234,000. EntryPoint Capital LLC acquired a new stake in shares of Hippo during the fourth quarter worth about $225,000. Finally, Creative Planning purchased a new stake in Hippo in the third quarter valued at approximately $224,000. 43.01% of the stock is owned by hedge funds and other institutional investors.

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.