Brokerages Set Hippo Holdings Inc. (NYSE:HIPO) PT at $35.50

Hippo Holdings Inc. (NYSE:HIPO) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.50.

A number of brokerages have recently commented on HIPO. B. Riley raised their price objective on shares of Hippo from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Zacks Research cut shares of Hippo from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hippo in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Hippo from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, JMP Securities set a $45.00 price objective on shares of Hippo and gave the stock a “market outperform” rating in a research note on Tuesday, October 14th.

Insider Buying and Selling

In related news, CFO Guy Zeltser sold 5,177 shares of Hippo stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $37.48, for a total value of $194,033.96. Following the sale, the chief financial officer owned 74,861 shares of the company’s stock, valued at approximately $2,805,790.28. This trade represents a 6.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Mccathron sold 2,725 shares of Hippo stock in a transaction on Monday, September 8th. The shares were sold at an average price of $34.12, for a total transaction of $92,977.00. Following the completion of the sale, the chief executive officer directly owned 470,388 shares in the company, valued at $16,049,638.56. This represents a 0.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,177 shares of company stock valued at $364,361 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

Institutional investors have recently added to or reduced their stakes in the stock. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Hippo in the 1st quarter valued at $2,636,000. Dynamic Technology Lab Private Ltd acquired a new stake in Hippo in the 1st quarter valued at $551,000. Deutsche Bank AG boosted its stake in Hippo by 251.7% during the 1st quarter. Deutsche Bank AG now owns 60,242 shares of the company’s stock worth $1,540,000 after purchasing an additional 43,112 shares during the last quarter. Invesco Ltd. boosted its stake in Hippo by 256.4% during the 1st quarter. Invesco Ltd. now owns 127,835 shares of the company’s stock worth $3,267,000 after purchasing an additional 91,969 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Hippo by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company’s stock worth $26,697,000 after purchasing an additional 24,253 shares during the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Trading Up 0.9%

NYSE HIPO opened at $37.29 on Tuesday. The company has a market capitalization of $933.29 million, a PE ratio of -76.10 and a beta of 1.56. The company has a fifty day moving average of $35.46 and a 200 day moving average of $29.40. Hippo has a 1 year low of $19.51 and a 1 year high of $38.98. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $1.30. The company had revenue of $117.30 million during the quarter, compared to the consensus estimate of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. Research analysts forecast that Hippo will post -3.63 earnings per share for the current year.

About Hippo

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.