Hippo (NYSE:HIPO) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Hippo (NYSE:HIPO) from a hold rating to a buy rating in a report released on Sunday morning.

Several other analysts have also recently commented on HIPO. Keefe, Bruyette & Woods boosted their price target on shares of Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 22nd. JMP Securities boosted their target price on Hippo from $35.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, B. Riley raised their price target on Hippo from $35.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Hippo has an average rating of “Moderate Buy” and a consensus price target of $34.25.

Hippo Stock Down 0.1%

Shares of HIPO opened at $30.88 on Friday. The business’s 50 day moving average is $27.84 and its 200 day moving average is $26.44. The company has a market capitalization of $772.93 million, a PE ratio of -63.02 and a beta of 1.53. Hippo has a 12-month low of $15.74 and a 12-month high of $35.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.

Hippo (NYSE:HIPO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $1.30. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. The firm had revenue of $117.30 million for the quarter, compared to analysts’ expectations of $116.00 million. Research analysts expect that Hippo will post -3.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Torben Ostergaard sold 2,444 shares of Hippo stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $29.95, for a total value of $73,197.80. Following the completion of the transaction, the chief executive officer owned 64,349 shares in the company, valued at approximately $1,927,252.55. This trade represents a 3.66% 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, major shareholder Len Fw Investor, Llc sold 514,309 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total value of $14,488,084.53. Following the sale, the insider owned 2,476,418 shares in the company, valued at approximately $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 521,642 shares of company stock worth $14,681,601 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Hippo in the 2nd quarter worth about $33,000. BNP Paribas Financial Markets bought a new stake in Hippo in the fourth quarter worth about $118,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Hippo by 12.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock valued at $125,000 after buying an additional 489 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Hippo by 418.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,402 shares of the company’s stock valued at $179,000 after buying an additional 5,166 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Hippo during the fourth quarter valued at approximately $200,000. 43.01% of the stock is 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.