Hippo Holdings Inc. (NYSE:HIPO) Receives $38.33 Average Price Target from Brokerages

Shares of Hippo Holdings Inc. (NYSE:HIPO) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $38.3333.

A number of research analysts have recently weighed in on the company. B. Riley Financial assumed coverage on Hippo in a research report on Friday, April 17th. They issued a “buy” rating and a $38.00 price target for the company. Zacks Research upgraded Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods raised their price target on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th.

Hippo Trading Up 0.9%

NYSE:HIPO opened at $26.18 on Friday. The stock has a fifty day moving average price of $26.69 and a two-hundred day moving average price of $29.21. The stock has a market capitalization of $27.22 million, a price-to-earnings ratio of 6.06 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 0.99. Hippo has a 1 year low of $21.99 and a 1 year high of $38.98.

Hippo (NYSE:HIPO) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $120.40 million during the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, sell-side analysts anticipate that Hippo will post 1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard Mccathron sold 5,000 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 604,212 shares in the company, valued at $16,374,145.20. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Torben Ostergaard sold 3,667 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. This represents a 5.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 19,267 shares of company stock valued at $509,023. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several hedge funds have recently modified their holdings of HIPO. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hippo during the 4th quarter worth $26,000. Altshuler Shaham Ltd grew its position in shares of Hippo by 270.4% in the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 730 shares during the period. Quantbot Technologies LP acquired a new position in Hippo in the second quarter valued at $33,000. AlphaQuest LLC lifted its position in Hippo by 109.5% during the third quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock worth $45,000 after buying an additional 654 shares during the period. Finally, Torren Management LLC purchased a new position in Hippo during the fourth quarter worth about $55,000. 43.01% of the stock is owned by institutional investors and hedge funds.

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.